Compute SiliconSEC filings

NVIDIA (NVDA)

H100/H200/B100/GB200/GB300 datacenter GPUs and NVL networking

Modeled AI capex flow

$111.8B

from Big 5 forward AI-attributable spend

Hyperscaler exposure

50.0%

of revenue (latest 10-K)

Top hyperscaler customer

AMZN

modeled $30.9B flow

Purchase obligations

$32.0B

FY25 10-K (Jan 2026)

Forward visibility: Purchase obligations

The leading indicator AM analysts read as capex commitments convert to supplier revenue.

Non-cancellable inventory + supply commitments, a proxy for forward shipment volume. Growing each quarter on tighter HBM allocation.

As of: FY25 10-K (Jan 2026)Source filing

Flow attribution by hyperscaler

Modeled dollars from each hyperscaler's AI-attributable forward capex.

Customer	Modeled flow	% of total
Amazon (AMZN)	$30.9B	27.6%
Microsoft (MSFT)	$27.2B	24.3%
Meta Platforms (META)	$26.4B	23.6%
Alphabet (GOOGL)	$14.5B	13.0%
Oracle (ORCL)	$12.8B	11.4%

Computed from disclosed customer concentration and per-hyperscaler accelerator preferences. Per-edge values can be reconstructed from the Methodology page.

Notes & source

10-K F2025 disclosed two 10%+ customers (‘Customer A’ 16%, ‘Customer B’ 14%) plus several mid-single-digit hyperscaler exposures. Most concentrated AI capex beneficiary.

View SEC filings page