Explorer/Supply chain/Operators
11

Operators

The companies that own and operate data centers and cloud platforms — hyperscalers, colocation REITs, GPU cloud operators (NeoClouds), crypto miners pivoting to HPC, and edge/CDN platforms.

33companies
5sub-roles

Hyperscalers

5 companies
AMZNAmazon.com, Inc.Cloud computing servicesGOOGLAlphabet Inc.Cloud computing servicesMETAMeta Platforms, Inc.Cloud and AI infrastructureMSFTMicrosoft CorporationCloud computing servicesORCLOracle CorporationCloud and database services

Data Center REITs & Colocation

6 companies
CCOICogent Communications Holdings, Inc.Data center colocationDLRDigital Realty Trust, Inc.Data center colocationEQIXEquinix, Inc.Data center colocationGDSGDS Holdings LimitedData center colocationIRMIron Mountain IncorporatedData center colocationVNETVNET Group, Inc.Data center colocation

NeoClouds / GPU Cloud

11 companies
AGPUAxe Compute Inc.GPU cloud servicesAPLDApplied Digital Corp.GPU cloud servicesCHRNChronoScale CorporationGPU cloud servicesCIFRCipher Mining Inc.GPU cloud servicesCORZCore Scientific, Inc.GPU cloud servicesCRWVCoreWeave, Inc. Class A Common StockGPU cloud servicesIRENIREN LimitedGPU cloud servicesKEELKeel Infrastructure Corp.GPU cloud operatorMOVECorvex, Inc.GPU cloud operatorNBISNebius Group N.V.GPU cloud operatorWYFIWhiteFiber, Inc. Ordinary SharesGPU cloud operator

Crypto-to-HPC Pivots

8 companies
BTBTBit Digital, Inc.Crypto-to-HPC pivotBTDRBitdeer Technologies GroupCrypto-to-HPC pivotCLSKCleanSpark, Inc.Crypto-to-HPC pivotHIVEHIVE Digital Technologies Ltd.Crypto-to-HPC pivotHUTHut 8 Corp.Crypto-to-HPC pivotMARAMarathon Digital Holdings, Inc.Crypto-to-HPC pivotRIOTRiot Platforms, Inc.Crypto-to-HPC pivotWULFTeraWulf Inc.Crypto-to-HPC pivot

Edge & Managed Cloud

3 companies
AKAMAkamai Technologies, Inc.Edge cloud servicesDOCNDigitalOcean Holdings, Inc.Managed cloud hostingNETCloudflare, Inc.Edge cloud services
Deep teardownComing soon
Inside the operators layer
A full physical decomposition of this layer of the buildout — what goes where, who makes it, and where the bottlenecks are. Links here when the teardown publishes under Learn.
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