Google, Amazon, Meta, Apple, and Microsoft (GAMAM) statistics & facts

Five companies at the center of the economy

GAMAM is shorthand for Google, Amazon, Meta, Apple and Microsoft, the five American technology companies whose products shape how billions of people search, shop, communicate, work and entertain themselves. The acronym replaced the older FAANG, which included Netflix, after Facebook renamed itself Meta and Google reorganised under its parent company, Alphabet. Together these five firms touch almost every part of daily digital life, from the phone in a pocket to the servers that run much of the internet.

Their scale is hard to overstate. In their latest fiscal years the five earned about 2.07 trillion US dollars in revenue, larger than the economic output of all but a handful of countries, and roughly 516 billion dollars in net income. On 24 September 2026 they were worth about 17.4 trillion dollars combined on the stock market. This report sets out the data behind that dominance, building on our wider coverage of big tech revenue comparisons and the top companies in the world by market capitalization. It covers revenue, profit, market value, the race to spend on artificial intelligence, cloud computing, each company in turn, their workforces and the regulators circling them.

Revenue: a combined $2 trillion

All five companies grew their revenue in their latest fiscal year, several at double-digit rates. The chart compares each with its previous year.

Growth across the board: every GAMAM company grew its revenue, led in size by Amazon at about 717 billion dollars and in pace by Meta and Microsoft.

Amazon is by far the largest by revenue, with net sales of about 716.9 billion dollars in 2025, up 12 percent from 638.0 billion. Apple follows with about 416.2 billion dollars in fiscal 2025, up from 391.0 billion, and Alphabet with about 402.8 billion, up 15 percent from 350.0 billion. Microsoft earned about 331.8 billion dollars in fiscal 2026, an 18 percent rise, and Meta about 201.0 billion in 2025, a 22 percent jump that made it the fastest grower of the group. Revenue size reflects business model as much as success: Amazon records the full price of the goods it sells, so its revenue is enormous but its margins are thin, while Meta and Alphabet earn almost all their revenue from high-margin advertising. The long-run growth of these companies is traced in our reports on Alphabet annual revenue and Apple net sales since 2004.

Profit: more than half a trillion dollars

Revenue tells only half the story. The chart ranks the five by net income, the profit left after all costs and taxes.

A profit race at the top: Microsoft and Alphabet each earned more than 130 billion dollars, with Apple close behind.

Microsoft was the most profitable of the five, with net income of about 133.7 billion dollars in fiscal 2026, up 31 percent, helped by an operating margin of close to 47 percent and some gains on its investments in AI firms. Alphabet was a near tie at about 132.2 billion dollars in 2025, up 32 percent. Apple earned about 112.0 billion dollars in fiscal 2025. Amazon, despite having the largest revenue, earned about 77.7 billion, up 31 percent as its cloud and advertising businesses lifted margins. Meta earned about 60.5 billion dollars, slightly down on the year as heavy spending on AI infrastructure and talent weighed on costs. Combined, the five earned roughly 516 billion dollars in profit, an extraordinary concentration of corporate earnings in just five firms, set out further in our analysis of the largest revenue sources of leading tech companies.

Market value: $17 trillion

Investors value these companies at levels without precedent in market history. The chart shows each market capitalization on 24 September 2026.

Trillion-dollar club: all five were worth more than 1.9 trillion dollars, and Apple, Alphabet and Microsoft more than 3.7 trillion each.

On 24 September 2026, Apple was the most valuable GAMAM company at about 4.92 trillion US dollars, followed by Alphabet at about 4.13 trillion, Microsoft at 3.72 trillion, Amazon at 2.69 trillion and Meta at 1.90 trillion. Together they were worth about 17.4 trillion dollars, more than the entire stock markets of most countries combined. The one company worth more than any of them was Nvidia, at about 5.45 trillion dollars, whose chips power the AI boom that GAMAM firms are paying for. Market values move daily with share prices, and the ranking between Apple, Alphabet and Microsoft has changed several times in recent years. The broader league table of the world most valuable firms is tracked in our report on the biggest companies in the world by market value, and the chipmaker behind the boom is profiled in our Nvidia statistics and facts.

The AI spending race

The defining story of big tech in the mid-2020s is capital spending on artificial intelligence. The chart compares each company latest annual capital expenditure with its plan for 2026.

An unprecedented build-out: Amazon plans about 200 billion dollars of capital spending in 2026 and Alphabet about 180 billion, roughly double their already record levels.

Amazon spent about 131.8 billion dollars on capital projects in 2025 and plans about 200 billion in 2026, most of it for AWS data centers and AI chips. Alphabet spent about 91.4 billion in 2025, up 74 percent, and guided to 175 to 185 billion for 2026. Microsoft spent about 115.9 billion dollars in fiscal 2026, up 79 percent, and has signalled further increases. Meta spent about 72.2 billion in 2025 and plans 115 to 135 billion in 2026 as it pursues what it calls superintelligence. Apple, which relies more on partners for AI computing, spends a small fraction of these sums. Taken together, the four biggest spenders plan well over 600 billion dollars of capital investment in a single year, far more than the annual budgets of most governments.

This spending is reshaping entire industries. It is driving record demand for chips, electricity and land, and it underpins the rapid growth of the data center sector covered in our report on data center statistics. The bet is that AI will generate enough new revenue, from cloud services, advertising and software subscriptions, to justify the outlay. Investors have so far largely rewarded the spending, but the scale has also raised concerns about overbuilding. The size of the opportunity is set out in our coverage of the AI market size worldwide.

The cloud race

Three GAMAM companies run the world largest public cloud platforms, renting computing power to businesses of every size. The chart compares their annual cloud revenue.

Three giants, one market: AWS leads with about 128.7 billion dollars of revenue, Azure has passed 100 billion, and Google Cloud has reached about 58.7 billion.

Amazon Web Services, the pioneer of cloud computing, earned about 128.7 billion dollars in 2025, up 20 percent, and remains the largest platform. Microsoft Azure passed 100 billion dollars of annual revenue for the first time in fiscal 2026, growing 43 percent in the final quarter as AI workloads surged; Microsoft does not report an exact Azure figure, but its wider Intelligent Cloud segment brought in about 137.8 billion dollars. Google Cloud reached about 58.7 billion dollars in 2025, up 36 percent, and is now solidly profitable. Together these three dominate the global cloud infrastructure market, as detailed in our report on how the big three hold a dominant lead in the cloud market. AI has turned cloud into the main growth engine for all three, and their order backlogs, hundreds of billions of dollars of contracted future revenue, suggest the race is far from over.

Apple: the iPhone and the ecosystem

Apple is the only GAMAM company that earns most of its money from selling hardware. The chart shows how its fiscal 2025 revenue divides.

The iPhone still rules: the iPhone brought in about half of Apple revenue, with Services now larger than all other hardware combined.

Apple earned about 416.2 billion dollars in fiscal 2025, of which about 209.6 billion, roughly half, came from the iPhone. Services, including the App Store, iCloud, Apple Music, Apple Pay and the payments Google makes to be the default search engine, brought in about 109.2 billion dollars, now more than the Mac, iPad and wearables combined. Services matter because their margins are far higher than hardware, and their steady growth has made Apple less dependent on the annual iPhone cycle. The shift is tracked in our report on services revenue as a share of Apple total revenue. Apple has more than 2 billion active devices worldwide, an installed base that underpins both its hardware sales and its services income, and it remains the most profitable hardware company in history.

Amazon: retail, cloud and advertising

Amazon combines the world largest online store with the largest cloud business. The chart splits its 2025 net sales by segment.

Retail by revenue, cloud by profit: North America retail brought in most of the sales, but AWS generates a large share of the profit.

Of Amazon 716.9 billion dollars in 2025 net sales, about 426.3 billion came from North America, 161.9 billion from international markets and 128.7 billion from AWS. The segment chart understates AWS, however, because cloud is far more profitable than retail and has for years provided a large share of operating income. Advertising has become the third pillar: Amazon sold more than 21 billion dollars of ads in the fourth quarter of 2025 alone, growing more than 20 percent, as brands pay to appear in front of shoppers at the moment of purchase. Amazon also runs a vast logistics network, a streaming service and the Prime membership programme, all of which are covered in our Amazon statistics and facts and the breakdown of Amazon revenue by segment.

Alphabet: search, YouTube and cloud

Alphabet, the parent company of Google, remains an advertising giant at heart, but it is rapidly becoming an AI and cloud company too. Of its roughly 402.8 billion dollars of revenue in 2025, Google Search and related services brought in about 224.6 billion, up 13 percent, showing that search advertising has so far held up despite the rise of AI chatbots. YouTube advertising contributed about 40.4 billion dollars, and Google Cloud about 58.7 billion, growing at more than a third a year. The rest came from network advertising, subscriptions such as YouTube Premium and Google One, devices such as Pixel phones, and early-stage ventures including the self-driving car company Waymo.

Alphabet net income rose 32 percent to about 132.2 billion dollars in 2025, and its Gemini family of AI models has become one of the leading challengers to OpenAI. Its challenge is to weave AI into search without undermining the advertising that funds it. Its cloud business had a backlog of about 240 billion dollars of contracted future revenue at the end of 2025, more than double a year earlier, a sign of how strongly AI demand is flowing into its data centers. The company is profiled in more depth in our report on Google.

Microsoft: cloud, software and AI

Microsoft has reinvented itself as the leading enterprise AI company. In fiscal 2026, which ended in June, it earned about 331.8 billion dollars in revenue and 133.7 billion in net income, with an operating margin of nearly 47 percent, the highest of the five. Its revenue divides into three roughly equal-sized engines: Productivity and Business Processes, which includes Office and Microsoft 365, brought in about 140.0 billion dollars; Intelligent Cloud, which includes Azure, about 137.8 billion; and More Personal Computing, which includes Windows, Xbox and search, the remainder.

The key driver is AI. Azure growth accelerated to 43 percent in the final quarter of fiscal 2026 as customers rented computing power for AI models, and Microsoft 365 Copilot, its AI assistant for office software, passed 30 million paid seats. Microsoft also holds a large stake in OpenAI, the maker of ChatGPT, which runs much of its computing on Azure. Its commercial remaining performance obligation, the value of contracted future revenue, reached about 678 billion dollars, up 84 percent. That backlog, combined with record margins, is why investors continue to value Microsoft among the most valuable companies in the world.

Meta: the attention economy

Meta owns the largest collection of social platforms on earth. In December 2025, about 3.58 billion people used at least one of Facebook, Instagram, WhatsApp or Messenger every day, up 7 percent on the year. That audience is the foundation of an advertising business that brought in about 201.0 billion dollars of revenue in 2025, up 22 percent, making Meta the fastest-growing company in the group. AI has improved how Meta targets and measures ads, raising both the number of ads shown and the price advertisers pay.

Meta net income dipped slightly to about 60.5 billion dollars in 2025 as it poured money into AI infrastructure and expensive talent, and into its Reality Labs division, which builds virtual reality headsets and smart glasses and continues to lose billions of dollars a year. The company plans capital spending of 115 to 135 billion dollars in 2026 as chief executive Mark Zuckerberg pursues what he calls personal superintelligence. The scale of the platforms behind this business is set out in our Facebook statistics.

Workforce: over 2 million people

The five companies employ more than 2.2 million people between them, but the numbers vary enormously. The chart compares their latest reported headcounts.

Amazon dwarfs the rest: with about 1.58 million employees, Amazon has several times more staff than the other four combined.

Amazon employs about 1.58 million full and part-time people, the vast majority in its fulfilment centers, delivery network and stores. Microsoft had about 228,000 employees, Alphabet about 194,700, Apple about 166,000 and Meta about 78,900. The contrast reflects business models: Amazon runs a labour-intensive physical operation, while Meta generates about 2.5 million dollars of revenue per employee from software and advertising. In recent years all five have trimmed staff in some areas while hiring aggressively in AI, and several have said AI tools will allow them to grow with fewer people. The trend is visible in our long-run report on the number of Apple employees since 2005.

The regulators close in

With great scale has come intense scrutiny. In the United States, a federal court ruled in 2024 that Google illegally maintained a monopoly in online search, and a second court found in 2025 that it had monopolised parts of the advertising technology market; the remedies imposed so far have stopped short of breaking up the company but restrict some of its exclusive deals. The Federal Trade Commission has sued Amazon, accusing it of using its marketplace power to harm sellers and shoppers, and in 2025 Amazon agreed to pay 2.5 billion dollars to settle separate claims over how it enrolled and cancelled Prime memberships. Meta won its antitrust fight with the FTC over its purchases of Instagram and WhatsApp in late 2025.

Europe has gone further with rules rather than lawsuits. Its Digital Markets Act designates the largest platforms as gatekeepers and imposes obligations on how they treat rivals and users, and in 2025 the European Commission fined Apple 500 million euros and Meta 200 million euros for breaches. Apple has been forced to allow alternative app stores and payment methods in the EU. These cases will shape how much of their dominance the five can keep, and how much they must share with competitors, as regulators worldwide try to catch up with companies that have grown faster than the rules that govern them.

Where GAMAM goes next

The next chapter for GAMAM will be written by artificial intelligence. Each company is betting that AI will open new markets large enough to justify spending that now runs to hundreds of billions of dollars a year. For Microsoft, Amazon and Alphabet, the payoff is flowing first through cloud, where demand for AI computing still outstrips supply. For Meta, AI is improving advertising and underpinning an ambition to build assistants for billions of users. For Apple, the challenge is to make AI a reason to keep buying new devices.

The risks are real. If AI revenue grows more slowly than expected, the enormous capital commitments could weigh on profits for years. Regulation could constrain the most profitable parts of their businesses, from search defaults to app store fees. And competitors, from Nvidia to OpenAI to Chinese technology firms, are fighting for the same prize. Yet with more than 2 trillion dollars of annual revenue, half a trillion in profit and balance sheets strong enough to fund almost any strategy, the five GAMAM companies enter the AI era from a position of strength no group of companies has held before. Their influence on markets, jobs and daily life will only deepen, as reflected in the fortunes charted in our report on the richest people in the US tech industry.

GAMAM in numbers

A few figures capture the scale of the five tech giants.

Together they describe the most powerful group of companies in the modern economy.

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