Amazon.com, Inc. (AMZN): Who It Depends On
Amazon's overall business - dominated by its diversified e-commerce operation - has no meaningful customer concentration. But its fast-growing AWS cloud and custom-silicon business (Trainium, Inferentia, Graviton, designed by Amazon's Annapurna Labs division) depends heavily on outside foundries and chipmakers to build, and is increasingly concentrated around a small number of very large AI-lab customers.
Supply-chain dependency
Companies AMZN relies on to design, manufacture, package, and assemble its hardware.
Fabricates Amazon's in-house Trainium, Inferentia, and Graviton chips designed by its Annapurna Labs division.
Supplies the GPUs AWS uses alongside its own custom chips for cloud AI compute.
A major memory supplier to AWS's server infrastructure. Trades primarily on the Korea Exchange with no proper US-listed ticker.
A major memory supplier to AWS. Trades primarily on the Korea Exchange with no proper US-listed ticker.
Supplies power and cooling infrastructure across AWS's rapidly expanding data centers.
Customer concentration
Amazon's overall revenue is dominated by its highly diversified retail business, which has no meaningful customer concentration. The chart below instead focuses on AWS's AI compute business - particularly its custom Trainium chips - where a small number of large AI labs represent an unusually concentrated and strategically important customer base.
Reported as one of the very largest customers of Amazon's own Trainium AI chips, training its Claude models on AWS infrastructure. A private company with no public ticker.
Uses AWS compute capacity alongside its other cloud partners. A private company with no public ticker.
One of AWS's longest-standing and largest enterprise cloud customers.
Runs significant infrastructure on AWS to support its enterprise software products.
Relies on AWS for a substantial share of its cloud infrastructure.
Runs core infrastructure on AWS to support its crypto exchange platform.
Runs Fortnite and other game infrastructure substantially on AWS. A private company with no public ticker.
AWS GovCloud serves federal agencies as large, long-standing customers. Not a publicly traded company.
The percentages shown are editorial estimates based on public research (company disclosures, earnings commentary, and industry reporting) meant to illustrate relative reliance, not precise or audited figures. Companies without a proper, reliably tradable ticker on this site are shown without stock/earnings links. This is not financial advice.