US AI Spending Surges, Concentrated Among Top Firms
Ramp data shows the top 1% of US businesses spent a record median $7,400 per employee per month on AI in July, far above the median firm's $11.95.
US corporate AI spending is accelerating rapidly, but the gains are highly uneven, according to spending data from Ramp.
In July, the top 1% of US businesses spent a record median of $7,400 per employee per month on AI. That compares with $650 for the top 10% and just $11.95 for the median firm. Spending per employee has more than tripled across all three groups over the past several months.
The gap between the heaviest AI spenders and typical companies is widening. The top 1% now spends more than 600 times as much per employee as the median business. In early 2024, that top group was spending less than $1,000 per employee per month.
The data suggests AI investment is becoming increasingly concentrated among a small number of companies.
Source: The Kobeissi Letter