AWS hits $46B/quarter — more than all 199 internet stocks made in 1999

BenBajarin · x · 2026-11-01

• The quoted post compares today's AI boom to the dot-com bubble: in Oct 1999, the 199 internet stocks tracked by Morgan Stanley had a combined $450B market cap but only $21B in total revenue — roughly what AWS now makes in a single quarter ($46B).
• The attached chart lines up Anthropic vs AWS by years since launch on a log scale: AWS reached $129B annual revenue in 2025 after 20 years, while Anthropic hit $4.6B in year 3 and an estimated $46B run-rate in year 4 (Q2'26 × 4) — matching what AWS only achieved in year 15 (2020).
• The takeaway: by revenue standards, top AI companies already dwarf 1999-era internet stocks, but Anthropic's slope implies far more aggressive expectations. AWS was called "probably more of a distraction" at launch in 2006.

Original post →

More from Venture

• Wispr Flow grew revenue 30x with a creator-ads playbook — now valued at $2B — lennysan · 2026-11-02
• $100M Neolab tries to sublease its GPUs; compute glut's debt risk called 'tip of the iceberg' — himanshustwts · 2026-11-02
• Ares won't lend against AI chips as Wall Street stacks $100B in GPU financing deals — BenBajarin · 2026-11-01
• Bittensor ships 18 updates across 16 subnets: $2.1M Targon burn, $4/hr B300s — bittingthembits · 2026-11-01
• AI bubble debate: dot-com bust as cycle start, not the top — RachelVT42 · 2026-11-01
• YC F26 startup VirajAero repurposes aircraft turbines to power data centers with 40% more output per fuel — ycombinator · 2026-11-01

Venture channel →