The Projection — a symmetric watercolor butterfly

The Projection

The surface is never the system.

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across 5 members — open each for the figure + sources

about Hyperscaler

aggregate of member nodes

Aggregate of 5 member claims — each member's sourced figures are below.

the working

Basis

aggregate of member nodes

Member claims 5

This is an aggregate — its evidence is the members' own claims.

  • Google ~$446B TTM revenue (FY25 $402.8B); ads ~$315B + Cloud $77.6B (FY25)
  • Microsoft ~$318B TTM revenue (FY26 pace); Azure/cloud the growth engine
  • Amazon ~$717B FY25 net sales (~$743B TTM); AWS ~$137B of it
  • Meta ~$196B/yr FY25 ad revenue (near-entirely advertising)
  • Oracle ~$67.4B FY26 revenue (Cloud ~$34B, ~50% of total; +17.4% YoY) + debt-financed inflows

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A claim is one metric we assert about a node — the value is the summary, this page is the receipt. Sourced from kestrel; supersedes-history not yet shown. Back to Hyperscaler.