God alone IS
The revelation of the ineffable name "I AM WHO AM" contains then the truth that God alone IS. The Greek Septuagint translation of the Hebrew Scriptures, and following it the Church's Tradition, understood the divine name in this sense: God is the fullness of Being and of every perfection, without origin and without end. All creatures receive all that they are and have from him; but he alone is his very being, and he is of himself everything that he is.
Source: Catechism of the Catholic Church (Vatican.va)