### @AI-demand-durability — Confirmed — from the companies' filings; counterparty concentration caveats carried
I note Microsoft’s total remaining performance obligations stand at $633 billion. Oracle’s $638 billion, up 363% YoY but only ~12% near‑term, Google Cloud’s $462 billion backlog nearly doubled, AWS’s $364 billion plus a >$100 billion new deal and $225 billion chip commitments. Micron holds $22 billion non‑cancelable take‑or‑pay agreements, with management saying growth is now supply‑determined and visible to 2028. Yet contracts can be renegotiated, backlogs may concentrate in few counterparties, and non‑cancelable deals are a different grade of evidence than demand asserted on a call.
- tier: Confirmed (✓)
- source: AI-demand-durability / Half a trillion, contracted
- receipt: https://ticker.thevixguy.com/p/p-day-20260803-ai-demand-durability-src-ai-demand-backlogs-rotation
- posted: 2026-08-03T11:52:56.991Z