Hyperscaler Duopoly

“google and amazon”

hyperscalersai infrastructurecloud capexsemiconductorsby anon · last month

Google and Amazon are the two companies most directly positioned to monetize the AI buildout through their cloud platforms, custom silicon, and massive data center footprints. Both are spending at historic levels on capex, which flows directly to the picks-and-shovels suppliers in this basket. The thesis is that these two hyperscalers keep winning enterprise AI workloads, and the companies enabling their infrastructure capture the spillover. This is a concentrated bet on two buyers and their supply chain, not a broad tech basket.

Holdings: 8
Largest: 22%
Pillars: 3
Revisions: 1

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How it breaks down

The Two Hyperscalers

44%

The named companies themselves, capturing cloud and AI platform economics directly.

Compute Silicon

42%

The chip designers and foundries whose AI accelerators and memory fill Google and Amazon data centers.

Data Center Buildout

14%

Power, cooling, and networking suppliers that scale with every hyperscaler facility.

Holdings

Every position, why it is here, and its token on chain. Weights sum to exactly 100%.

Weight	Ticker	Company	Why it is here	Token
22%	GOOGL	Alphabet Class A	Google is one of the two named hyperscalers, and its TPU and cloud AI strategy is the core of the thesis.	0x2e08…4FE3
22%	AMZN	Amazon	Amazon is the other named hyperscaler, with AWS as the dominant cloud platform absorbing enterprise AI demand.	0x12f1…bF54
16%	NVDA	NVIDIA	NVIDIA is the primary GPU supplier to both Google and Amazon data centers, making it the purest read on their combined AI capex.	0xd060…9EEC
12%	AVGO	Broadcom	Broadcom designs custom AI accelerators for hyperscalers including Google, tying its revenue directly to their silicon roadmaps.	0x156E…fbcF
10%	TSM	Taiwan Semiconductor Manufacturing	TSMC fabricates the custom chips Google and Amazon design, so their AI silicon ambitions run through its fabs.	0x58Ff…e7AA
8%	VRT	Vertiv Holdings Co	Vertiv supplies the power and cooling infrastructure that Google and Amazon need for every new AI data center they build.	0xFA78…5fB7
6%	ANET	Arista Networks	Arista's high-speed networking gear is a direct beneficiary of hyperscaler data center expansion at Google and Amazon.	0x28bA…d1Bf
4%	MU	Micron Technology	Micron's HBM and memory chips are consumed in volume by the AI servers Google and Amazon deploy.	0xfF08…4afD

GOOGLAlphabet Class A22%
Google is one of the two named hyperscalers, and its TPU and cloud AI strategy is the core of the thesis.
0x2e08…4FE3
AMZNAmazon22%
Amazon is the other named hyperscaler, with AWS as the dominant cloud platform absorbing enterprise AI demand.
0x12f1…bF54
NVDANVIDIA16%
NVIDIA is the primary GPU supplier to both Google and Amazon data centers, making it the purest read on their combined AI capex.
0xd060…9EEC
AVGOBroadcom12%
Broadcom designs custom AI accelerators for hyperscalers including Google, tying its revenue directly to their silicon roadmaps.
0x156E…fbcF
TSMTaiwan Semiconductor Manufacturing10%
TSMC fabricates the custom chips Google and Amazon design, so their AI silicon ambitions run through its fabs.
0x58Ff…e7AA
VRTVertiv Holdings Co8%
Vertiv supplies the power and cooling infrastructure that Google and Amazon need for every new AI data center they build.
0xFA78…5fB7
ANETArista Networks6%
Arista's high-speed networking gear is a direct beneficiary of hyperscaler data center expansion at Google and Amazon.
0x28bA…d1Bf
MUMicron Technology4%
Micron's HBM and memory chips are consumed in volume by the AI servers Google and Amazon deploy.
0xfF08…4afD

What breaks this

Written by the same model that built the basket, and not edited to sound better.

01Concentration in just two buyers means any capex slowdown at Google or Amazon hits nearly every holding at once.
02Custom silicon from Broadcom and Google's TPUs could displace NVIDIA GPU demand faster than expected, hurting the largest silicon position.
03A broader AI spending correction would compress valuations across the entire supply chain simultaneously.
04Export controls or Taiwan geopolitical tension could disrupt TSMC fabrication and choke the whole basket.
05Hyperscaler capex is already at record levels, so the marginal upside from here may be smaller than the market assumes.

Changelog

Every revision to this basket, who made it, and when. A theory is allowed to change its mind in public.

by the modelSep 19, 2026
Basket created from the thesis. 8 holdings.

How this basket was made

Source: Generated
Model: deepseek-chat
Chain: Robinhood Chain · 4663
Created: Sep 19, 2026

The model was given the full list of equities tokenized on Robinhood Chain and could only pick from it. Token addresses were attached afterwards from that same list, so a ticker the model invented would have been dropped rather than shown here. This is not investment advice and it has not been backtested.