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
690–100 composite
Today
+1.20%cap-weighted
MTD
+4.75%month-to-date
YTD
+15.29%year trend
Tracked Cap
12.02T9 names
Price Explorer
$548.35+1.33%
Why it matters
Where compute becomes a product.
2026 capex / spend$130B
Breadth advancing78%
Cloud Platforms · Constituents
| Company | Role | Weight | Last | Change | Mkt Cap | Trend |
|---|---|---|---|---|---|---|
MSFT Microsoft Corp. | Core | $548.35 | +1.33% | |||
AMZN Amazon.com Inc. | Core | $262.29 | +1.06% | |||
GOOGL Alphabet Inc. | Core | $356.89 | +1.18% | |||
ORCL Oracle Corp. | Core | $139.60 | +1.61% | |||
NET Cloudflare Inc. | Core | $353.26 | +0.68% | |||
CRWV CoreWeave Inc. | Enabler | $77.33 | -3.65% | |||
NBIS Nebius Group | Enabler | $200.36 | -4.62% | |||
SNOW Snowflake Inc. | Adjacent | $364.81 | +1.23% | |||
DDOG Datadog Inc. | Adjacent | $291.23 | +1.37% |