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The internet is dominated by a small number of players, the GAFAM, who share common characteristics: Google, Apple, Facebook, Amazon and Microsoft are US-based but globalized in their activities, strongly financialized, and carriers of the “Californian ideology.” They form a global oligopoly against the public interest. This article explains how the GAFAM rely on a neo-liberal hegemony and on the evolution of the global economy (technological convergence, financialization, deregulation) to extend their grip on the internet and generate exceptional profitability. It then analyzes the integration strategies implemented by GAFAM, operating both a vertical and horizontal concentration in order to control the totality of software and hardware infrastructure necessary for the delivery of content and services to internet users.