Would remind everyone who says AI is a bubble: AI spending is still accelerating! I don't mean that it's simply growing. I mean the growth rate per-firm is also increasing.
In June, median firm AI spend rose 5.7% MoM, from $10.09 to $10.67 per employee. That was faster than May’s 3.8% growth. As of our latest Ramp AI Index.
The median firm in the top 10% spent $515 PEPM; the median firm in the top 1% spent $4,855.
This is an extremely nascent market with broadening adoption and spending concentrated among a small group of heavy users. Even within highly advanced firms, there are teams early in the adoption curve with room to grow spend.
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