S&P Global owns the S&P 500 index (licensed to every ETF that tracks it), S&P credit ratings (used on $100T+ in debt issuance), and Platts (energy commodities data). Its merger with IHS Markit created the world's largest financial data company. When companies issue bonds, they pay S&P for a rating. When fund managers benchmark performance, they pay S&P for index data.
Key relationships in depth
S&P Global integrated its AI-ready commodities data directly into Microsoft 365 Copilot, allowing enterprise users to query S&P Global Commodity Insights data without coding through natural language prompts in Outlook, Teams, and Excel. The integration uses Microsoft's AI Ready Data connector framework and extends S&P's Platts price assessments and energy market analysis into the Microsoft productivity ecosystem used by energy and financial firms.
Why it matters: S&P Global Commodity Insights serves the global energy, metals, and agriculture trading community. Embedding Platts data into Microsoft 365 Copilot reaches traders, analysts, and risk managers directly in the tools they already use, expanding S&P's addressable market beyond dedicated financial terminals. Microsoft's 400M+ Microsoft 365 commercial users represent a distribution network S&P cannot replicate independently.
S&P Global and Google Cloud formed a multi-year strategic partnership in December 2025 to accelerate enterprise AI transformation. The deal unifies S&P Global's proprietary financial datasets on BigQuery and expands agentic AI offerings through Gemini Enterprise. S&P Global's Kensho AI lab deployed a Data Retrieval Agent on Google Cloud infrastructure, enabling financial professionals to interact with S&P's indices, ratings, and commodity data through natural language.
Why it matters: S&P Global's core competitive advantage is its proprietary data covering 150+ countries, 64,000+ issuers, and 1.5M+ securities. Google Cloud's BigQuery and Vertex AI platform allows S&P to commercialize this data at scale through AI-native interfaces, replacing legacy terminal products with agentic workflows. The December 2025 deal reflects S&P's recognition that data distribution via AI agents is the next competitive battleground in financial information.
S&P Global & Amazon
S&P Global uses AWS as a primary cloud infrastructure provider for its Market Intelligence, Ratings, and Commodity Insights platforms, migrating large-scale financial data processing and analytics workloads to AWS as part of its digital transformation following the IHS Markit merger. S&P Global's datasets covering over 135 million publicly and privately traded companies are hosted on AWS infrastructure and delivered to financial professionals through cloud-native APIs.
Why it matters: S&P Global's data products require the storage and compute scale to process petabytes of financial, market, and commodity data in real-time, and AWS's global infrastructure provides the necessary performance and reliability for mission-critical financial data services. AWS gains a marquee data company customer in financial services, where S&P Global's cloud deployment validates AWS for regulated financial data workloads.
JPMorgan Chase is one of S&P Global's largest data and ratings clients. S&P Ratings provides credit ratings for JPMorgan's debt issuances, structured finance products, and securitizations. S&P Global Market Intelligence delivers data feeds, analytics, and KYC/compliance data to JPMorgan's trading desks, risk management teams, and research divisions. S&P's Visible Alpha platform, acquired in 2023, serves JPMorgan's equity research analysts.
Why it matters: JPMorgan's capital markets business requires credit ratings from recognized NRSROs (Nationally Recognized Statistical Rating Organizations) to issue bonds globally. S&P's investment-grade or speculative-grade ratings directly determine JPMorgan's borrowing costs, investor eligibility, and regulatory capital treatment. With JPMorgan issuing hundreds of billions in debt annually, S&P's ratings services are a non-negotiable operational dependency.
Relationships are compiled by VexMap from company filings, announcements and reporting, and last reviewed September 2026. Spotted something wrong? Tell us. Not investment advice.