Amazon

• Total revenue · FY2025 revenue $716.9B · latest quarter Q1 FY2026 $181.5B (+17% YoY), AWS $37.6B (+28% YoY, ~$150B annualized)
• Customer concentration · Demand sink for AI infrastructure. Cash capex $131.8B (FY2025, up 59% from $83.0B), ~$200B guided for 2026. Its own Trainium (2/3) chips are made at TSMC 5nm/3nm; GPUs from Nvidia (196k Hopper units in 2024). Project Rainier runs ~500k Trainium2 chips to train Anthropic’s Claude.
• Segments · AWS · North America · International

• e-commerce · consumers (North America · International) High confidence· Revenue $716.9B · FY2025 · 10-K annual total revenue
  The demand end of the chain: e-commerce, ads and subscriptions make up most revenue. FY2025 total revenue $716.9B (+12%).
  Confirms EN SEC EDGAR Published Feb 6, 2026: Amazon FY2025 Form 10-K (year ended Dec 31, 2025)
• AWS customers (Anthropic et al.) High confidence· Revenue $129B · FY2025 · AWS segment revenue
  Sells AWS cloud and Trainium compute to enterprise and AI customers. Anthropic trains Claude on ~500k Trainium2 chips (Project Rainier). FY2025 AWS $129B (+20%).
  Confirms EN SEC EDGAR Published Feb 6, 2026: Amazon FY2025 Form 10-K (year ended Dec 31, 2025)

  Confirms EN Introl Accessed Jun 20, 2026: AWS Trainium and Inferentia silicon ecosystem (Project Rainier)
• Anthropic High confidence
  Supplies 5GW of AWS Trainium to Anthropic plus up to $25B investment.
  Confirms EN SEC EDGAR Published Apr 30, 2026: Amazon Form 10-Q (Q1 FY2026)

  Confirms EN Anthropic Published Apr 19, 2026: Anthropic and Amazon expand to up to 5GW of Trainium
• Illumina High confidence
  Runs Illumina Connected Analytics and BaseSpace on AWS infrastructure (S3, Glacier), storing and computing petabyte-scale genomic data.
  Confirms EN Illumina Published Jun 1, 2024: Illumina AWS partnership
• Intuit Inc. High confidence
  Intuit's 10-K names Amazon Web Services as one of the public cloud providers it uses to run its online offerings. Intuit's FY2025 total purchase obligations of $4.892 billion are disclosed as being "primarily related to a cloud services agreement," but the split between AWS and Google Cloud is not disclosed.
  Confirms EN SEC EDGAR Published Sep 3, 2025: INTUIT INC. 10-K (2025-09-03)
• Salesforce, Inc. High confidence
  Amazon was named Salesforce's 'preferred public cloud infrastructure provider' in 2016. A 2025 Korean-language media report states that Salesforce's Hyperforce currently still runs Salesforce's service on hyperscale data-center infrastructure including Amazon Web Services (AWS) and Google Cloud. Separately, Salesforce's 10-K discloses, without naming specific vendors, that total contractual commitments to 'infrastructure service providers' were $16.7 billion as of January 31, 2026, including $3.7 billion due within the next 12 months.
  Mentions EN SEC EDGAR Published Mar 2, 2026: Salesforce, Inc. 10-K (2026-03-02)

  Confirms KO Electronic Times (etnews) Published Jun 18, 2025: Salesforce Korea CEO: 'We will safely provide our data and AI agent platform from a Korean data center'

  Confirms EN Salesforce Published May 25, 2016: Salesforce Selects AWS as Preferred Public Cloud Infrastructure Provider
• DoorDash, Inc. High confidence
  Amazon provides AWS, which DoorDash directly identifies as a third-party vendor it relies on, and a co-authored AWS technical article confirms DoorDash's use of Amazon Connect, Bedrock, and Lex for customer support, although vendor-specific spending is not disclosed.
  Confirms EN SEC EDGAR Published Feb 18, 2026: DoorDash, Inc. 10-K (2026-02-18)

  Confirms EN AWS Blog Published Sep 24, 2024: Deploy Generative AI Agents in Your Contact Center for Voice and Chat Using Amazon Connect, Amazon Lex, and Amazon Bedrock Knowledge Bases
• Corteva, Inc. High confidence
  Amazon provides AWS infrastructure, data-lake, and API services to Corteva's European precision-agriculture app Granular Link, while Corteva's AWS spending has not been disclosed.
  Confirms EN AWS Startups Blog Published Feb 9, 2022: Improving the Sustainability of Crop Farming Using a Data-driven Approach
• Veeva Systems High confidence
  Amazon provides the AWS computing infrastructure that Veeva uses for Veeva Vault applications, including Vault CRM, while AWS expenses are included in subscription cost of revenue but vendor-specific spending was not disclosed.
  Confirms EN SEC EDGAR Published Mar 20, 2026: Veeva Systems Inc. FY2026 Form 10-K

  Confirms EN Amazon Published Jun 25, 2025: Veeva and AWS Expand 10-Year Relationship
• Autodesk, Inc. High confidence
  Amazon provides the AWS infrastructure that Autodesk increasingly uses for certain cloud products and relies on for operational and technical services, while the FY2026 10-K and a 2026 strategic collaboration announcement cross-check the relationship but Autodesk does not disclose AWS-specific spending.
  Confirms EN Autodesk Investor Relations Published Jun 3, 2026: Autodesk signs strategic collaboration agreement with Amazon Web Services

  Confirms EN SEC EDGAR Published Mar 3, 2026: Autodesk, Inc. 10-K (2026-03-03)
• Snowflake Medium confidence
  AWS cloud for Snowflake workloads.
  Confirms EN Snowflake Published Dec 1, 2025: Snowflake doubles AWS Marketplace growth, $2B
• CrowdStrike Medium confidence
  AWS cloud for CrowdStrike Falcon.
  Confirms EN MLQ Published Dec 1, 2025: CrowdStrike results, subscription +31%
• Datadog Medium confidence
  AWS cloud for Datadog SaaS.
  Confirms EN SEC/StockTitan Published Feb 1, 2026: Datadog FY2025 10-K ($3.43B, +28%)
• Schrodinger Medium confidence
  AWS compute for Schrodinger simulation.
  Confirms EN Business Wire Published Nov 5, 2025: Schrodinger Q3 2025 results
• Coupang Medium confidence
  Amazon, through its cloud arm AWS, hosts Coupang's e-commerce infrastructure and is paid for it; Coupang's cloud spend is revenue for Amazon (AWS).
  Confirms EN Coupang Form 10-K Published Feb 25, 2025: 2024 Annual Report on Form 10-K
• MercadoLibre, Inc. Medium confidence
  AWS counts MercadoLibre as a cloud customer and is named as its largest cloud provider in the 10-K.
  Confirms EN MercadoLibre FY2025 Form 10-K Published Feb 25, 2026: MercadoLibre, Inc. Annual Report on Form 10-K (FY2025)
• Uber Medium confidence
  Amazon hosts Uber's ride-sharing infrastructure on AWS (expanded in 2026), including growing use of Graviton and Trainium chips, and is paid for it; Uber's AWS spend is revenue for Amazon.
  Confirms EN TechCrunch Published Apr 7, 2026: Uber is the latest to be won over by Amazon's AI chips
• Airbnb Inc Medium confidence
  Amazon (AWS) earns revenue supplying the cloud infrastructure that runs all of Airbnb's service.
  Confirms EN Amazon Web Services (Case Study) Published Jan 1, 2023: Airbnb Case Study
• The Walt Disney Company Medium confidence
  Amazon (AWS) is Disney+'s preferred cloud provider, supplying content delivery, storage and machine learning infrastructure and earning cloud revenue from Disney.
  Confirms EN Data Center Dynamics Published Apr 29, 2021: AWS is the preferred cloud provider for Disney+
• Netflix Medium confidence
  Amazon's AWS supplies Netflix with compute, storage and infrastructure. Netflix runs entirely on AWS with no data centers of its own, a flagship AWS customer.
  Confirms EN Amazon Web Services Published Jan 1, 2025: Netflix on AWS: Case Studies
• Palo Alto Networks Medium confidence
  Palo Alto Networks runs Cloud NGFW and cloud-delivered security services on AWS, procuring cloud infrastructure.
  Confirms EN SEC EDGAR Published Aug 29, 2025: Palo Alto Networks FY2025 Form 10-K (fiscal year ended July 31, 2025)
• Workday, Inc. Medium confidence
  Workday's 10-K names AWS as a public cloud provider it uses. Workday's applications have run on AWS infrastructure since a 2016 multi-year partnership, and in 2024 the companies expanded the partnership to use Amazon Bedrock and SageMaker for generative-AI feature development. However, Workday's 10-K does not disclose vendor-specific spend. Separately, Workday's 10-K discloses $1,056 million in aggregate FY2027-2029 purchase obligations for "third-party hosted infrastructure platforms" without naming a vendor, so whether any of that figure is attributable to AWS is unconfirmed (see open_questions).
  Confirms EN SEC EDGAR Published Mar 6, 2026: Workday, Inc. 10-K (2026-03-06)

  Confirms EN Amazon (AWS) Published Jul 11, 2024: AWS and Workday Expand Partnership to Help Organizations Drive Productivity, Improve Decision-Making, and Develop Generative AI Solutions

  Confirms EN itbrief.com.au Published Nov 14, 2018: Workday customers start deployments to AWS infrastructure
• Abbott Laboratories Medium confidence
  Amazon (AWS) provides HealthOmics, S3, EventBridge and CloudWatch for the genomic analysis pipelines of Abbott's acquired Cancer Diagnostics business. Service fees are not disclosed.
  Confirms EN Amazon Web Services Published Apr 17, 2026: Exact Sciences Transforms Bioinformatics Infrastructure with AWS HealthOmics

  Mentions EN SEC EDGAR Published Mar 23, 2026: ABBOTT LABORATORIES 8-K (2026-03-23)
• Automatic Data Processing, Inc. Medium confidence
  Amazon (AWS) is ADP's strategic cloud provider. ADP has migrated its payroll and HCM applications to AWS, but the contract value is not disclosed.
  Confirms EN Amazon Published Sep 8, 2026: ADP Partners with AWS to Accelerate AI-Powered Innovation in Human Capital Management

  Confirms KO Amazon Web Services Published Jul 17, 2023: Evolving ADP's Single Global Experience in MyADP and ADP Mobile Applications
• Stryker Corporation Medium confidence
  Amazon (AWS) provides the infrastructure on which Vocera Edge and Vocera Ease, services of Stryker's wholly owned Vocera subsidiary, run. Stryker does not disclose its AWS spending.
  Confirms EN Stryker Published Mar 13, 2026: Customer Updates: Stryker Network Disruption
• Adobe Inc. Medium confidence
  Amazon provides hosting in Amazon Web Services data centers where Adobe operates Acrobat, PDF services, and other Document Cloud functions, and Adobe's SEC filing confirms the importance of third-party hosting purchases but does not disclose amounts by vendor.
  Confirms EN Adobe Trust Center Published Feb 12, 2026: Adobe Document Cloud Data Centers

  Mentions EN SEC EDGAR Published Jan 15, 2026: ADOBE INC. 10-K (2026-01-15)
• Schlumberger Medium confidence
  Amazon provides the AWS cloud infrastructure that Schlumberger uses to deliver Delfi applications and connect AWS Energy Data Insights with the Lumi platform, and this infrastructure is classified as a technology input, but payments were not disclosed.
  Mentions KO Mirae Asset Securities Research Published Oct 21, 2024: Schlumberger 3Q24 Review: Results In Line with AI Forecast

  Confirms EN SEC EDGAR Published Oct 18, 2024: SLB Announces Third-Quarter 2024 Results

  Confirms EN Amazon Published Sep 23, 2024: Amazon and AWS Expand Partnership with SLB to Accelerate Digital and Decarbonization
• 3M Company Medium confidence
  Amazon provides AWS, to which 3M moved its enterprise IT infrastructure and applications for ERP, supply chain, manufacturing, and e-commerce, but cloud fees and contract value were not disclosed.
  Confirms EN Amazon Published Feb 17, 2020: 3M Selects AWS as Its Preferred Cloud Provider for Enterprise IT
• Hilton Worldwide Holdings Inc. Medium confidence
  Amazon offers products that Hilton Honors members can purchase with points, and Hilton's filing recognizes expected payments to third parties when points are redeemed but does not disclose the amount paid to Amazon.
  Confirms EN SEC EDGAR Published Feb 11, 2026: Hilton Worldwide Holdings Inc. 10-K (2026-02-11)

  Confirms EN TechCrunch Published Sep 19, 2017: Amazon now lets Hilton Honors members shop with Points
• Boston Scientific Corporation Medium confidence
  Amazon provides Amazon Web Services, on which Boston Scientific's corporate infrastructure relies heavily according to TechCrunch's reporting based on public internet records, although AWS spending was not disclosed.
  Mentions EN TechCrunch Published Aug 26, 2026: Medical device maker Boston Scientific says a cyberattack is causing a 'global disruption' to its operations
• Becton, Dickinson and Company Medium confidence
  Amazon provided AWS services including SageMaker, AppFlow, QuickSight and CloudWatch for medical-device maintenance analytics used by BD Medication Management Solutions, but the related spending was not disclosed.
  Confirms EN Amazon Web Services Published May 12, 2022: Reducing Device Downtime Using Actionable Intelligence on AWS
• Rockwell Automation, Inc. Medium confidence
  Amazon provides the AWS infrastructure that Rockwell uses to expand FactoryTalk Hub SaaS products and operate Fiix CMMS and AI-powered production logistics, while Rockwell's AWS spending was not disclosed.
  Confirms KO ZDNet Korea Published Apr 4, 2025: Rockwell Automation and AWS Join Forces to Accelerate Factory Innovation with AI and Data

  Confirms EN Rockwell Automation Published Apr 2, 2025: Rockwell Automation and AWS Collaborate to Transform Manufacturing Through Advanced Industrial Automation Solutions at Hannover Messe 2025
• Carrier Global Corporation Medium confidence
  Amazon provides the AWS services that Carrier uses for migrated legacy systems and digital operations spanning factories and product initiatives, while contract spending has not been disclosed.
  Confirms EN Amazon Web Services Published Jul 20, 2021: Amazon Web Services-led Hackathon Sparks Innovation at Carrier
• Live Nation Entertainment, Inc. Medium confidence
  Amazon supplies AWS cloud infrastructure to Ticketmaster, Live Nation's corporate IT, and selected festival operations, and an AWS 2024 session revisited Live Nation's completed migration and reported a reduction in total cost of ownership.
  Confirms EN Amazon Web Services Published Dec 3, 2024: Accelerate Your Cloud Migration: A Leader's Guide to Going Fast

  Confirms EN Amazon Newsroom Published Feb 8, 2017: Live Nation Selects Amazon Web Services as Cloud Infrastructure Provider
• IDEXX Laboratories, Inc. Medium confidence
  Amazon provides AWS cloud infrastructure and hosting for IDEXX veterinary software services including Animana, ezyVet, and VetConnect Plus, while AWS-specific spending was not disclosed.
  Confirms EN IDEXX Laboratories Published Oct 22, 2025: IDEXX DPA Subprocessors
• Waters Corporation Medium confidence
  Amazon provides AWS EC2, RDS, S3, and IoT Greengrass for Waters' waters_connect System Monitoring software, while cloud spending and contract terms were not disclosed.
  Confirms EN Waters Corporation Published Sep 12, 2024: Increasing Lab Efficiency with Amazon Web Services to Enable Real-Time Remote Access to Lab Information
• Agilent Technologies, Inc. Medium confidence
  Amazon provides EC2 G5g instances for Agilent's genomic variant-calling workflows in its cloud-native Alissa Reporter software, while AWS spending and contract terms were not disclosed.
  Confirms EN Agilent Technologies Published Jun 7, 2022: Agilent Leverages NVIDIA and AWS Technology to Improve Analysis Speeds of Genomics Bioinformatics Pipelines
• Comcast Corporation Low confidence
  According to AWS's own case study, NBCUniversal used AWS (Amazon) cloud infrastructure (EC2, CloudFront, Elemental MediaTailor, etc.) for major live-streaming events including Super Bowl LVI and the 2022 Winter Olympics. This reflects a 2022-era case study; whether the same relationship holds as of 2025 was not independently reconfirmed, so this is flagged as unverified.
  Confirms EN Amazon Web Services Published Feb 13, 2022: NBCUniversal Case Study

• NVIDIA High confidence· Units 196,000 (est.) · CY2024 · Omdia estimate
  Buys Nvidia GPUs in volume for AWS: about 196k Hopper units in 2024 (Omdia). One of Nvidia’s top-4 customers.
  Mentions EN SEC EDGAR Published Feb 6, 2026: Amazon FY2025 Form 10-K (year ended Dec 31, 2025)

  Confirms EN heise online Published Dec 19, 2024: Microsoft buys most Nvidia accelerators (Omdia estimate)
• TSMC High confidence
  Has its own Trainium2 (5nm) and Trainium3 (3nm) AI chips fabricated by TSMC, which is expanding capacity for Amazon (75k to 90-100k wafers/month).
  Mentions KO Global Economic Published Jun 19, 2026: Amazon weighs selling its Trainium AI chip externally

  Confirms KO Global Economic Published Dec 3, 2025: Amazon launches its own AI chip to counter Nvidia, 4.4x performance
• Alchip Technologies High confidence
  Purchases AI custom ASIC design and production from Alchip.
  Confirms EN SemiWiki Published Feb 1, 2026: Alchip financial results

  Confirms EN Alchip Published Jan 1, 2025: Alchip on the AI ASIC value chain
• Vistra High confidence
  Sources datacenter power from Vistra nuclear via PPA.
  Confirms EN SEC EDGAR Published Jan 1, 2026: Vistra results/guidance (8-K)

  Confirms EN DCD Published Sep 1, 2025: Vistra nuclear PPAs with AWS/Meta; datacenter power talks
• Talen Energy High confidence
  Sources AI-datacenter power from Talen nuclear via PPA.
  Confirms EN DCD Published Jun 11, 2025: AWS and Talen: nuclear datacenter campus and 1,920MW PPA

  Confirms EN SEC EDGAR Published Jun 11, 2025: Talen Energy expands Amazon nuclear PPA (8-K)
• Nike High confidence
  Nike resumed selling directly on Amazon in 2025, reaching consumers through the channel. For Amazon, Nike is a first-party goods supplier.
  Confirms EN Retail Dive Published May 27, 2025: Nike to return to Amazon, expanding digital wholesale accounts
• Amorepacific High confidence
  Laneige is a top beauty seller on Amazon US (Lip Sleeping Mask 34,000+ five-star reviews; Glowy Lip Balm a #1 category bestseller), a Prime Day mainstay and the channel behind the Americas becoming its largest market.
  Confirms EN Amorepacific Published Feb 6, 2025: Amorepacific Group FY2024 earnings

  Confirms EN Amazon Published Jul 17, 2024: LANEIGE Lip Sleeping Mask, Amazon US listing
• ArianeGroup High confidence
  In April 2022 Arianespace signed 18 Ariane 6 launches for Amazon's Kuiper constellation, its largest contract ever; 16 use the uprated Ariane 64, with the first flight lofting 32 Leo satellites in February 2026. Value undisclosed.
  Confirms KO ET News Published Apr 6, 2022: Amazon secures 83 satellite launches over 5 years

  Confirms EN Arianespace Published Apr 5, 2022: Arianespace signs unprecedented contract with Amazon for 18 Ariane 6 launches
• 패브리넷 High confidence
  Outsourced precision manufacturing for AI/HPC infrastructure (Mar 2025 commercial agreement plus warrant).
  Confirms EN FinancialContent Published Apr 10, 2026: Fabrinet shatters records as AWS partnership ignites HPC surge

  Confirms EN SEC EDGAR Published Aug 19, 2025: Fabrinet 10-K FY2025
• United Parcel Service, Inc. High confidence
  Amazon and its affiliates remain UPS's largest customer and accounted for 10.6% of consolidated revenue in 2025 even as UPS pursued its strategy of reducing lower-yield Amazon volume.
  Confirms EN SEC EDGAR Published Feb 17, 2026: United Parcel Service 2025 Form 10-K

  Confirms KO Newspim Published Nov 5, 2025: [GAM] Has UPS Bottomed? Part 1: Higher-Margin Strategy Takes Hold as Amazon Volume Is Cut
• Norfolk Southern High confidence
  Amazon was identified by Norfolk Southern as its largest intermodal customer at the company's investor day and continued to be described in later merger coverage as a shipper affected by changes to the two railroads' service.
  Mentions EN Associated Press Published Jul 29, 2025: Union Pacific and Norfolk Seek First Transcontinental Railroad Through a Massive Merger

  Confirms EN FactSet CallStreet and Railway Age Published Dec 6, 2022: Norfolk Southern Corp. Investor Day Raw Transcript
• Occidental Petroleum Medium confidence· Count 250,000 metric_tonnes_CO2 · ten years · Volume of DAC carbon removal credits Amazon agreed to purchase from 1PointFive
  Amazon agreed to buy 250,000 metric tons of direct-air-capture carbon removal credits generated by STRATOS over 10 years, but the contract value was not disclosed.
  Confirms EN Amazon Published Sep 12, 2023: Amazon Supports the World's Largest Deployment of Direct Air Capture Technology

  Confirms EN Occidental Petroleum Published Sep 12, 2023: 1PointFive and Amazon Announce 10-year Carbon Removal Credit Purchase Agreement

  Confirms KO The Korea Economic Daily Published Sep 12, 2023: Amazon Follows Microsoft in Backing Direct Air Capture Technology
• Quanta Computer Medium confidence
  Sources GB200 AI servers from Quanta.
  Confirms EN TweakTown Published Aug 1, 2024: NVIDIA GB200 AI servers: Foxconn 40%, Quanta 30%
• Seagate Technology Medium confidence
  Seagate HDDs for datacenter mass storage.
  Confirms EN VDURA Published May 4, 2026: Hyperscaler HDD demand (WDC, Seagate)
• Credo Technology Medium confidence
  Purchases AI interconnect (AEC, PAM4) from Credo.
  Confirms EN Quartz Published Jan 1, 2025: Credo growth in AI interconnects

  Confirms EN SEC EDGAR Published Jun 1, 2024: Credo Technology Form 10-K
• Marvell Medium confidence
  A design partner on earlier Trainium generations (estimated to be its largest direct customer); its role may shrink in the next generation (kept cautious).
  Mentions KO Global Economic Published Jun 19, 2026: Amazon weighs selling its Trainium AI chip externally
• SK hynix Medium confidence
  Supplies HBM3e for Trainium3 (144GB) and data-center memory (supplier/volume undisclosed).
  Confirms KO Global Economic Published Dec 3, 2025: Amazon launches its own AI chip to counter Nvidia, 4.4x performance
• Astera Labs Medium confidence
  A key hyperscaler customer buying retimers and fabric connectivity directly.
  Confirms EN SEC EDGAR Published Feb 10, 2026: Astera Labs Form 10-K (FY2025)
• SanDisk Medium confidence
  Purchases enterprise SSDs from SanDisk.
  Confirms KO Business Post Published Nov 1, 2025: SanDisk and Kioxia ride the NAND boom

  Confirms EN SEC EDGAR Published Aug 1, 2025: SanDisk Form 10-K
• Foxconn (Hon Hai) Medium confidence
  Orders GB200 AI racks for AWS (Foxconn-assembled).
  Confirms EN CNBC Published Dec 5, 2025: NVIDIA partner Foxconn reports 26% revenue spike on AI boom
• Arista Networks Medium confidence
  Buys AI datacenter Ethernet switches from Arista Networks.
  Confirms KO ITWorld Published Aug 1, 2025: Meta builds high-speed Ethernet AI clusters with Arista

  Confirms EN SEC EDGAR Published Feb 18, 2025: Arista Networks Form 10-K

  Confirms EN Arista Published Feb 18, 2025: Arista Q4 and full-year 2024 results ($7B)
• Wiwynn Medium confidence
  Supplies cloud servers to Amazon (AWS) (Wiwynn ODM).
  Confirms EN TrendForce Published May 5, 2025: MS/Meta AI spend lifts NVIDIA ODM Wiwynn
• IonQ Medium confidence
  Hosts IonQ QPUs on AWS Braket.
  Confirms EN Quantum Zeitgeist Published Jan 1, 2026: Trapped-ion quantum (IonQ AWS, Azure, NVIDIA)
• Rigetti Computing Medium confidence
  Hosts Rigetti QPUs on AWS Braket.
  Confirms EN Quantum Computing Report Published Nov 11, 2025: Rigetti 1000+ qubit roadmap and government orders
• D-Wave Quantum Medium confidence
  Hosts D-Wave annealing on cloud.
  Confirms EN The Quantum Insider Published Feb 26, 2026: D-Wave 179% revenue jump as bookings accelerate
• Eaton Medium confidence
  Sources datacenter power/UPS from Eaton.
  Confirms EN SEC EDGAR Published Oct 30, 2025: Eaton quarterly results (8-K)

  Confirms KO TheElec Published Jan 1, 2024: Eaton targets Korean datacenter market with power solutions
• Schneider Electric Medium confidence
  Sources datacenter power/cooling from Schneider.
  Confirms EN Schneider Electric Published Apr 30, 2026: Schneider Electric Q1 revenue release

  Confirms EN DCD Published Sep 1, 2025: Schneider co-develops GB200 NVL72 reference design with NVIDIA
• GE Vernova Medium confidence
  Sources datacenter power/grid gear from GE Vernova.
  Confirms EN SEC EDGAR Published Feb 1, 2026: GE Vernova 2025 annual report (ARS/10-K)

  Confirms KO ValueDeepDive Published Jan 1, 2026: You can buy GPUs but not electricity — GE Vernova analysis
• Ciena Medium confidence
  Sources inter-datacenter optical (DCI) from Ciena.
  Confirms KO Ciena KR Published Jan 1, 2026: Ciena global DCI (datacenter interconnect)
• Corning Medium confidence
  Sources datacenter fiber/connectivity from Corning.
  Confirms EN RCR Wireless Published Jun 11, 2026: Corning emerges as key AI-infra supplier on hyperscaler fiber
• Cerebras Systems Medium confidence
  Integrates Cerebras CS-3 into AWS Bedrock inference.
  Confirms EN Futurum Published Apr 17, 2026: Cerebras S-1 teardown (wafer-scale, OpenAI $20B)
• Cummins Medium confidence
  Backup gensets to AWS datacenters.
  Confirms KO Global Economic Published Jun 19, 2026: Amazon weighs selling its Trainium AI chip externally
• ABB Medium confidence
  Datacenter electrification to AWS.
  Confirms KO Global Economic Published Jun 19, 2026: Amazon weighs selling its Trainium AI chip externally
• Caterpillar Medium confidence
  Gensets to AWS datacenters.
  Confirms KO Global Economic Published Jun 19, 2026: Amazon weighs selling its Trainium AI chip externally
• Celestica Medium confidence
  Networking/AI systems to AWS.
  Confirms KO Global Economic Published Jun 19, 2026: Amazon weighs selling its Trainium AI chip externally
• Digital Realty Medium confidence
  Leases datacenters from Digital Realty.
  Confirms EN Global Data Center Hub Published Aug 1, 2025: Digital Realty $9B pipeline and hyperscale fund
• 프록터앤갬블 (P&G) Medium confidence
  Amazon's Vendor Flex places fulfillment staff inside P&G warehouses to pack and ship P&G staples on site, anchoring a 1P vendor relationship.
  Confirms KO LoTIS (Korea) Published Nov 25, 2014: Why did Amazon move into P&G's warehouses?

  Confirms EN Retail Dive Published Feb 26, 2014: Amazon deal with P&G has competitors steaming
• Jabil (AI-infra contract manufacturing) Medium confidence
  Amazon has AI/cloud-infra hardware built by Jabil — strategic enough that Jabil issued warrants to an Amazon investment vehicle in Dec 2024. (A symmetric revenue edge exists on the Jabil node.)
  Confirms EN SEC EDGAR Published Oct 20, 2025: Jabil 10-K FY2025 (August fiscal year)
• 엑셀론 (PECO 데이터센터 접속) Medium confidence
  Amazon data centers draw power through a large-load interconnection agreement with Exelon subsidiary PECO's T&D grid (under PJM review).
  Confirms EN Utility Dive Published Nov 5, 2025: Exelon's advanced data center pipeline grows to 18 GW
• Abbott Laboratories Medium confidence
  Amazon is a U.S. online sales channel for Abbott's Lingo system. Abbott names Amazon as a purchase channel but channel revenue and settlement terms are not disclosed.
  Confirms EN Abbott Published Dec 8, 2025: Abbott's Lingo Now on Android, Expanding Access to Real-Time Glucose Data
• FedEx Medium confidence
  Amazon signed a multiyear agreement for FedEx to deliver select large packages to U.S. residences, while the contract value and expected volume were not disclosed.
  Mentions KO ZDNet Korea Published May 13, 2025: Amazon signs large-package delivery agreement with FedEx

  Confirms EN FreightWaves Published May 13, 2025: Amazon taps FedEx for big-and-bulky residential deliveries
• Colgate-Palmolive Company Medium confidence
  Amazon identifies Colgate as a supplier partner in its Amazon UK retail channel, and revenue attributable to Amazon has not been disclosed.
  Confirms EN Amazon UK Published Jun 1, 2025: Buy two eligible products and Amazon will donate a third to charity through ‘You Buy. We Donate’
• Entergy Medium confidence
  Amazon receives power from Entergy Mississippi for the Mississippi data-center campuses in which Amazon Web Services is investing and says it covers all costs associated with new power infrastructure and upgrades for those campuses.
  Confirms EN Amazon Published Apr 9, 2026: Amazon plans to invest $25 billion in Mississippi data centers, create 2,000 jobs
• Quantum Computing Inc Low confidence
  Some QUBT Dirac access via cloud.
  Confirms EN StockTitan Published Jan 1, 2026: QUBT revenue jump, $1.5B liquidity

• Globalstar High confidence· acquisition value $11.6B · 2026-04 합의(완료 전) · Amazon definitive merger agreement ($90.00/share)
  In April 2026 Amazon announced a definitive agreement to acquire Globalstar at $90.00 per share, about $11.6 billion, adding direct-to-device to Amazon Leo via Globalstar L- and S-band spectrum and satellites, and taking over the Apple iPhone/Watch satellite services agreement.
  Confirms KO ZDNet Korea Published Apr 19, 2026: Amazon's Globalstar acquisition puts its satellite D2D service on track

  Confirms EN U.S. SEC (EDGAR) Published Apr 14, 2026: Amazon to Acquire Globalstar and Expand Amazon Leo Satellite Network (Form 8-K Exhibit 99.1)
• Anthropic High confidence
  Amazon invests up to $25B in Anthropic (AWS).
  Confirms EN Anthropic Published Apr 19, 2026: Anthropic and Amazon expand to up to 5GW of Trainium

Consensus: Buy 4 · Hold 1 · Sell 0 · Avg. target $263 · Price $258.51 (09-04) · Upside +2%

Maintains Overweight and nudges the target to $313 from $312, implying about 29% upside on AWS reacceleration and improving retail profitability.