The Projection — a symmetric watercolor butterfly

The Projection

The surface is never the system.

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Capital · operating

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 ~$186B/yr operating cash flow (TTM ended Jun-2026); $164.7B FY25
  • Microsoft ~$170B/yr operating cash flow (TTM ended Mar-2026)
  • Amazon ~$140-149B/yr operating cash flow ($139.5B FY25; $148.5B TTM)
  • Meta ~$116-124B/yr operating cash flow ($115.8B FY25; $124.0B TTM)
  • Oracle ~$32B/yr operating cash flow (FY26, +53.6% YoY)

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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.