AI Value Chain
Layer 5 of 6
Cloud Platforms
Hyperscale and specialist clouds that package raw compute into APIs and managed services. The toll-booth layer — margin accrues as AI workloads scale on rented infrastructure.
Momentum
670–100 composite
Today
+0.52%cap-weighted
MTD
+8.37%month-to-date
YTD
+23.69%year trend
Tracked Cap
11.58T9 names
Price Explorer
$496.88+0.90%
Why it matters
Where compute becomes a product.
2026 capex / spend$130B
Breadth advancing67%
Cloud Platforms · Constituents
| Company | Role | Weight | Last | Change | Mkt Cap | Trend |
|---|---|---|---|---|---|---|
MSFT Microsoft Corp. | Core | $496.88 | +0.90% | |||
AMZN Amazon.com Inc. | Core | $265.13 | -0.80% | |||
GOOGL Alphabet Inc. | Core | $346.36 | +0.82% | |||
ORCL Oracle Corp. | Core | $156.22 | +1.92% | |||
NET Cloudflare Inc. | Core | $330.83 | +6.22% | |||
CRWV CoreWeave Inc. | Enabler | $106.29 | -1.34% | |||
NBIS Nebius Group | Enabler | $255.04 | -1.60% | |||
SNOW Snowflake Inc. | Adjacent | $337.38 | +1.54% | |||
DDOG Datadog Inc. | Adjacent | $252.24 | +4.70% |