AI PROFITABILITY TRACKER

Is AI profitable?
Follow the reported numbers.

Explore revenue and operating profit across six major businesses building AI. See what their latest quarterly disclosures tell us—and where AI’s own economics remain unclear.

Explore the results Sources & dates ↗

6Companies · latest reported quarter

GAAPConsolidated operating results

USDBillions · no cross-company total

23 Sep 2026Sources reviewed · editorial snapshot

THE FINANCIAL PICTURE

What the companies report.

Scope matters. Every headline figure below covers the whole company, including businesses beyond AI. Fiscal quarter dates differ. These are financial snapshots, not an AI profitability ranking.

GOOGL / GOOG

Alphabet

Company-wide

Q2 2026 · Quarter ended 30 Jun 2026

Revenue$119.80B

Operating income$40.77B

Operating margin calculated34.0%

Google Cloud reported $24.768B revenue and $8.814B operating income. Shared AI research costs also sit in Alphabet-level activities, so Cloud profit is not a complete measure of AI profitability.

Source & scope Published 22 Jul 2026 ↗

AMZN

Amazon

Company-wide

Q2 2026 · Quarter ended 30 Jun 2026

Revenue$200.60B

Operating income$27.50B

Operating margin calculated13.7%

AWS reported $42.2B revenue and $16.6B operating income. Amazon also disclosed an AI revenue run rate above $25B; that annualized indicator is separate from the quarterly results shown here.

Source & scope Published 30 Jul 2026 ↗

Microsoft

Company-wide

Q4 FY2026 · Quarter ended 30 Jun 2026

Revenue$90.00B

Operating income$40.60B

Operating margin calculated45.1%

Intelligent Cloud reported $39.3B revenue, with Azure and other cloud services growing 43% year over year. The figures above cover all Microsoft businesses, rather than Azure or Copilot alone.

Source & scope Published 29 Jul 2026 ↗

NVDA

NVIDIA

Company-wide

Q2 FY2027 · Quarter ended 26 Jul 2026

Revenue$96.22B

Operating income$63.73B

Operating margin calculated66.2%

Data Center generated $89.0B of the company’s quarterly revenue. The 75.0% reported gross margin is a different metric from the operating margin calculated above, which includes operating expenses.

Source & scope Published 26 Aug 2026 ↗

ORCL

Oracle

Company-wide

Q1 FY2027 · Quarter ended 31 Aug 2026

Revenue$19.30B

Operating income$6.70B

Operating margin calculated34.7%

Cloud infrastructure revenue reached $7.4B. Oracle reported $23B operating cash flow and negative $5B free cash flow for the quarter, illustrating how a profitable business can still invest more cash than it generates after capital spending.

Source & scope Published 10 Sep 2026 ↗

Operating margin = operating income ÷ revenue. Figures are rounded for display; margins use the values transcribed from each release. Results are not inflation-adjusted.

READING THE SIGNALS

Three distinctions that matter.

Profit is not free cash flow.

Operating income includes expenses such as depreciation. Capital spending is a cash investment, often recognized as an expense over time. Subtracting capex again does not produce operating profit.

A run rate is not a year of revenue.

Annualizing a recent month or quarter describes a pace. It does not mean the business has earned that amount over a year, and it cannot be subtracted from cumulative investment to measure payback.

AI revenue has no common boundary.

Chips, cloud services, subscriptions, and advertising are different businesses. The same money can appear as one company’s cost and another’s revenue. Adding them together would double count parts of the ecosystem.

METHOD & COVERAGE

Keep the comparison honest.

A dated view of disclosed results, with the limits made visible.

What does this tracker measure?

The latest quarterly consolidated revenue and GAAP operating income available in the six linked company releases as of 23 September 2026. It calculates operating margin within each company and period. It does not calculate AI-only net profit, cumulative return on investment, or an industry-wide total.

Where are OpenAI, Anthropic, and other model labs?

This edition does not score OpenAI, Anthropic, xAI, Mistral, Cohere, DeepSeek, or Perplexity. A comparable quarterly operating income statement is not established for those businesses in this dataset. Funding, valuations, revenue run rates, and spending forecasts cannot fill that gap. Absence from the comparison does not mean a business is unprofitable.

How current is the information?

This is an editorial snapshot, not a live financial feed. Each company has a reporting-period end date and a source publication date. Review dates record when the linked disclosures were checked; they do not make all fiscal quarters identical. Refresh the dataset after new earnings releases or corrections.

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