COTW: AWS Revenue

February 13, 2024COTW: AWS Revenue

  • Most stock market gains over the past year have been driven by a few mega-cap companies, notably the ‘Magnificent Seven’: Microsoft, Amazon, Apple, Alphabet, Meta, Nvidia, and Tesla. Nvidia, leading the way, is up nearly 50% year-to-date, followed by Meta, which is up 35% year-to-date, and Amazon, up 16%.
  • Amazon Web Services (AWS), a subsidiary of Amazon that offers cloud services such as computing power, storage, and databases, generated $91 billion in revenue in 2023, higher than the revenue of 468 companies in the S&P 500.
  • Over the past 12 months, AWS revenue alone exceeded the revenue of Nvidia ($45 billion), Visa ($33 billion), Disney ($89 billion), Nike ($51 billion) and Wells Fargo ($82 billion), to name a few. Over the past decade, AWS revenue has grown by an annualized average of 40%.


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