AI economics
What does a dollar of GPU compute earn, who captures it, and does supply match guided demand?
Companies
| Company | Layer | Period | Revenue | Revenue YoY | Capex | Capex YoY | Capex / revenue | Model |
|---|---|---|---|---|---|---|---|---|
| CRWV CoreWeave, Inc. | neocloud | 2026Q2 | $2.6bn | +112.5% | $6.4bn | +161.8% | 249.4% | model |
| NBIS Nebius Group N.V. | neocloud | 2025 | $530m | +479.0% | $4.1bn | +403.5% | 767.5% | model |
| NVDA NVIDIA Corp | chip | 2026Q2 | $96.2bn | +105.9% | $2.7bn | +41.3% | 2.8% | reported data |
| AMZN Amazon.com, Inc. | hyperscaler | 2026Q2 | $200.6bn | +19.6% | $54.2bn | +68.4% | 27.0% | reported data |
| GOOGL Alphabet Inc. | hyperscaler | 2026Q2 | $119.8bn | +24.2% | $44.9bn | +100.1% | 37.5% | reported data |
| META Meta Platforms, Inc. | hyperscaler | 2026Q2 | $60.8bn | +28.0% | $30.1bn | +82.1% | 49.5% | reported data |
| MSFT Microsoft Corp | hyperscaler | 2026Q2 | $90.0bn | +17.7% | $35.8bn | +109.6% | 39.8% | reported data |