Amazon vs Apple — race to US$300
In near-term valuation dynamics, Amazon has the advantage.
Apple trades with saturated device penetration and slow services uplift.
Amazon, on the other hand, is leveraging AI infrastructure demand — a theme the buyside currently prefers over smartphone cycle narratives.
Therefore: Amazon has the stronger incremental catalyst profile.
If US$300 becomes a headline first, Amazon is statistically the more probable candidate.
OpenAI × Amazon — strategic significance
This deal is not merely capex — it is lock-in.
OpenAI gains accelerated access to compute capacity
Amazon secures AI workload gravity into AWS
the data stays inside Amazon’s ecosystem, which boosts long-tail monetisation of training + inference
This is structurally similar to “Reserved Instances for AI” — multi-year revenue visibility.
Is Nvidia the ultimate winner?
In this current cycle: yes.
No matter which hyperscaler wins the AI platform turf war — the near-term value accrues first to the silicon layer.
This AWS–OpenAI alignment still means NVIDIA silicon consumption upstream increases.
Simply put:
whether Microsoft wins → NVIDIA sells
whether Amazon wins → NVIDIA sells
even if AMD improves → NVIDIA still sells more today
Therefore — the meta-play remains NVIDIA.
The hyperscalers are fighting over platform share; NVIDIA continues compounding economic share.
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