Amazon (AWS)
AMZNpublicBackers
No backer on file. That means no tracked fund's portfolio or Form D names this company — not that it is unbacked.
Thesis
Anthropic anchor + Trainium ramp; largest cloud workload base.
Risk: Like most of the hyperscalers layer, the AI narrative is additive rather than core — if AI capex slows, the stock trades on its legacy business, not the theme.
Contracts as provider
2 disclosures · 2.00 GW · $200.00B| Filed | Customer | Kind | Site | MW | GPUs | Term | Total | Status | Source |
|---|---|---|---|---|---|---|---|---|---|
| Apr 9, 2026 | OpenAI | GPU cloud capacity | — | — | — | — | $100.00B | Completedverified | 8-K |
excerptWe have customer commitments that make our capex investments predictable. We're not investing approximately $200 billion in capex in 2026 on a hunch. The recent OpenAI commitment (over $100 billion) is an example of this, but there are several other customer agreements completed (and unannounced), or deep in process.Report an issue with this row | |||||||||
| Feb 27, 2026 | OpenAI | GPU cloud capacity | — | 2.00 GW | — | 8 yr | $100.00B | Expandedverified | 8-K |
excerptOpenAI and AWS are expanding their existing $38 billion multi-year agreement by $100 billion over 8 years. The expansion includes OpenAI committing to consume approximately 2 gigawatts of Trainium capacity through AWS infrastructure, which will support demand for Stateful Runtime, Frontier, and other advanced workloads.Report an issue with this row | |||||||||
Concentration over time
2 filing datesContracts as customer
3 disclosures · 586 MW · $13.00B| Filed | Provider | Kind | Site | MW | GPUs | Term | Total | Status | Source |
|---|---|---|---|---|---|---|---|---|---|
| Jun 8, 2026 | Cipher Stingray LLC backstop: Amazon.com, Inc. | Colocation lease | Stingray, Andrews, TX | 70 MW | — | 15 yr | $2.00B | Definitiveverified | 8-K |
excerpt · extension termsCipher Digital has executed a second data center lease with Amazon Data Services, Inc. (“AWS”) for 100 Gross MW / 70 IT MW at its Stingray site ... Purpose-built HPC data center located in Andrews, TX with 70 MW of Critical IT load under contract, with initial rent targeted to start on April 1st, 2027 ... 15 + Three 5-Year Tenant Extension Options ... ~$2.0 - $5.7 Bn Contracted Lease Payments ... 3.0 % Annual Rent Escalator ... Tenant Lease Guarantee: Amazon.com, Inc. (public parent) fully guarantees all base rent and operating expenses Extension: Three 5-year tenant extension options; if all exercised at ceiling rental rate, total contracted lease payments would be approximately $5.7 billion. Report an issue with this row | |||||||||
| Feb 3, 2026 | Cipher Black Pearl LLC backstop: Amazon.com, Inc. | Colocation lease | Black Pearl, Wink, TX | 216 MW | — | 15 yr | $5.50B | Definitiveverified | 8-K |
excerpt · extension terms~$5.5Bn of Contracted Revenue with Long-Term AWS Lease ... 216 MW Critical IT Load Under Contract ... 15 Years Base Lease Term + Three 5-Year Subtenant Extension Options ... Developing Black Pearl (300 Gross MW / 216 MW Critical IT Load), leased to Amazon Data Services, Inc. ... ~$5.5 Bn Contracted Lease Payments October 2026 Targeted Initial Rent Commencement Date ... 3.0% Annual Rent Escalator Triple Net Lease Extension: Three 5-year tenant extension options. Report an issue with this row | |||||||||
| Nov 3, 2025 | Cipher Mining Inc. | Colocation lease | — | 300 MW | — | 15 yr | $5.50B | Amendedverified | 8-K |
excerptCipher today announced an approximately $5.5 billion, 15-year lease agreement with Amazon Web Services to provide turnkey space and power for AI workloads. Under the terms of this lease agreement, Cipher will deliver 300 MW of capacity in 2026, including both air and liquid cooling to the racks. The capacity will be delivered in two phases, expected to begin in July 2026 and complete in the fourth quarter of 2026, with rent commencing in August 2026.Report an issue with this row | |||||||||