AWS grew 39.3% YoY, its fastest in ~5 years, and its commit backlog jumped $82B in one quarter to $578B. That’s 3+ years of AWS revenue, already under contract.

$1.6T+ is now committed to AWS, Azure and Google Cloud, 3x as much as 12 months ago. Each cloud has 3+ years of its revenue already under contract. Google has 4.6.

Cloud commitments grew ~5X in the last three years to ~1.5T. Publicly disclosed Marketplace milestones grew to more than $30B. We mapped every public $1B+ Marketplace milestone against our Cloud Commitment Tracker. Two curves. Together they show how fast the commercial system around cloud marketplaces matured.

Tomorrow, Nov 10, we're hosting our largest AWS online event of the year: "AWS Marketplace 2027 Playbook: Win AI Buyers, Co-Sell and Partners." 12 speakers from AWS, OpenAI, Okta, CrowdStrike, Drata and more. Free online, 9–11:30 AM PT. Meet two of them: Courtney McShane from OpenAI and Josh Greene from Okta.

Two weeks ago, Amazon CEO Andy Jassy said AWS can become a $1T revenue business in 5–10 years. What would it take? I modeled it. Even at half today's growth rate, AWS gets there in about 10 years.

Azure accelerated to 48% and guided higher: 49–50% next quarter. Satya Nadella is steering toward broad enterprise AI adoption, away from a few giant capacity deals: “that’s not a business as far as I’m concerned.”

Co-sell ≠ “cloud sells for you.” In plain English: Co-sell is when you (ISV) + cloud seller team up on a live deal. You bring the opportunity and problem you solve. They bring account insight, relationships, trust - and a faster way to buy via marketplace.

LangChain’s marketplace playbook started with one seller, one account and one win. Then it scaled: LangChain became an AWS Marketplace AI Agents and Tools launch partner and won a 2026 Google Cloud Partner of the Year award. Earlier this summer, we hosted a workshop for AI-natives on how to build marketplace revenue. It brought together Karan Singh, who leads Cloud GTM at LangChain; Rob Weidner, who leads alliances at Grafana Labs; Nate Stecz from AWS; and Trunal Bhanse from Clazar. 5 insights you can apply from it:

Microsoft made its strategic direction explicit: “Co-sell is now Microsoft Marketplace-first.” Microsoft is moving from partner-reported impact (PRACR) toward verified Marketplace Billed Sales (MBS). In FY27, Partner Reported Azure Consumed Revenue (PRACR) no longer operates as a broad co-sell mechanism. Marketplace becomes the primary path for co-sell at scale, with transaction credit recognized through MBS.

Last week Oracle committed $1B to its partner ecosystem. The same day, it opened more of its customers’ cloud budgets to partner software on Oracle Marketplace. It’s the cloud marketplace playbook, copied line by line. The question: does Oracle have enough commits to make it spin?

The time to reach $1B on cloud marketplaces compressed from 8–10 years to roughly 2. What changed? Salesforce listed on AWS Marketplace in 2023 and passed $2B in 18 months - faster than any security or infrastructure vendor on our list reached $1B.

Arrow Electronics stock is up more than 90% year to date. TD SYNNEX is up more than 70%. Ingram Micro, 33%. The 3 biggest IT distributors are among 2026's strongest tech performers. Here is what stood out from their Q2 reports.

Anthropic sold ~$14.6B through AWS, Google Cloud and Azure marketplaces in nine months. Now it has $13.8B in customer commits of its own, and partners can sell into part of them on Claude Marketplace.

It's official. Anthropic's S-1 shows 48% of its H1 2026 revenue went through AWS, Google Cloud and Azure marketplaces. That's ~$7.8B in six months. Marketplace sales grew 15x.

Databricks today: $7B+ revenue run-rate, $190B valuation. Yet for its first 3 years, it struggled to sell to enterprises. It broke into the enterprise on Microsoft’s playbook.

In 10 months, AWS put AI into almost every step of the Marketplace deal. One AI helps the seller write the listing. Another helps the buyer compare it, understand pricing and take it to approval.

From models to apps, AI is scaling into the enterprise through cloud marketplaces. $2B+ of Anthropic's 2025 revenue. 6 of Glean's 10 largest FY25 deals. Tens of millions on Mistral's very first marketplace win.

OpenAI is nearing a $70B revenue run rate. Now it’s turning AI commits into software distribution. Last week it launched OpenAI Marketplace in beta with 32 partners. Salesforce, ServiceNow, Adobe, CrowdStrike, Figma, Harvey, Replit, and Lovable are already listed. Eligible enterprises can apply part of their existing OpenAI commitment toward qualifying partner software.