Tempus AI (TEM) has a fairly legible dependency map: Illumina supplies the machinery and reagents, AstraZeneca is a named customer, Ares Capital provides debt, and precision-oncology competitors fill nearly every remaining seat. The filing does not describe one neat ecosystem. It describes a small operating chain surrounded by a large competitive neighborhood.
The clearest supplier relationship belongs to Illumina (ILMN). Tempus calls it the primary source for the equipment and materials behind its sequencing work, while also naming other lab vendors.
"Illumina, Inc., is our primary supplier of sequencers and laboratory reagents; however, we purchase laboratory supplies from other companies as well, such as Roche Holdings, Inc., Integrated DNA Technologies, and Tecan US, Inc."
Tempus AI / SEC filing / Feb. 24, 2026
Illumina is the main named supplier, not the only one. The filing puts other vendors in the lab supply chain, but gives Illumina the lead position.
AstraZeneca (AZN) sits on the other side of Tempus’s business, and the relationship has an equity-linked detail. Tempus says it issued AstraZeneca a warrant when the companies signed a master services agreement in 2021.
"We issued a warrant to our customer AstraZeneca in conjunction with the signing of the MSA in November 2021."
Tempus AI / SEC filing / Feb. 24, 2026
That makes AstraZeneca both a disclosed customer and a holder of a warrant issued in connection with the commercial agreement. The supplied relationship map also places AstraZeneca in the partner column, although the separate receipt provided for that label is an adjusted-EBITDA reconciliation passage, not a description of the partnership.
Tempus also has a disclosed lender relationship with Ares Capital (ARCC). The company says the credit agreement began with a $175.0 million senior secured term loan facility.
"Credit Facilities On September 22, 2022, we entered into a Credit Agreement, or the Original Credit Agreement, with Ares Capital Corporation, or Ares, for a senior secured loan, or the Term Loan Facility, in an original principal amount of $175.0 million…"
Tempus AI / SEC filing / Feb. 24, 2026
The capital structure therefore has a named institutional counterparty, not just an anonymous line called debt. The disclosed receipt identifies Ares and the original size of the facility, but does not, in the supplied sentence, describe later changes.
Competition is the broadest part of the map. Tempus names Caris Life Sciences (CAI), Guardant Health (GH), Natera (NTRA), NeoGenomics (NEO), Agilent Technologies (A), and Labcorp (LH) across its precision-oncology and legacy laboratory competitive set.
"Our primary competitors for our currently marketed precision oncology tests include Foundation Medicine, Inc., which was acquired by Roche Holdings, Inc., Caris Life Sciences, Guardant Health, Natera, Neogenomics, ResolutionBio, which was acquired by…"
Tempus AI / SEC filing / Feb. 24, 2026
"Legacy diagnostic laboratories, such as Quest and LabCorp may also pose competitive threats within the market."
Tempus AI / SEC filing / Feb. 24, 2026
Other filings widen the circle around Tempus. Personalis (PSNL) and Recursion Pharmaceuticals (RXRX) call it a partner. BillionToOne (BLLN), NeoGenomics, Guardant, Fulgent Genetics (FLGT), IQVIA (IQV), and Myriad Genetics (MYGN) call it a competitor. One company can be a partner in one filing and a rival in another. Healthcare is not famous for keeping its org chart in one column.
The disclosed map is therefore lopsided in a useful, factual way: one primary supplier, one named customer with a warrant, one lender, and a much longer list of competitors. It shows who Tempus says it buys from, sells to, owes, collaborates with, and fights. It does not, by itself, say what any of those relationships produce next.
These are relationships disclosed in SEC filings, mapped by jodie’s analytics. This is not investment advice.