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Spending & investment

What companies spend on AI, where the budget comes from, what it costs to run, and where investment is flowing.

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Average AI contract size has grown more than tenfold since 2023Average contract value for AI software products on Ramp, US$ thousands (2025 covers contracts effective through Q3)
$39K2023$143K2024$530K2025Source: Air Street Capital, State of AI Report 2025 (Ramp Economics Lab data), 2025, Slide 101.

Reports on spending & investment

Ramp · Sep 2026Ramp AI Index, September 2026: Cracks in the AI Thesis, Part 2
Business AI adoption keeps rising but more slowly; heavy spenders cut per-employee AI spend as token prices fell 41% from their 2026 peak.Usage data
DX · Jul 2026State of AI Impact in Engineering: Q2 2026 Report
AI now writes 52.7% of code and AI spend rose ~28x in tech, but time on new features stayed flat and change confidence fell 6.1%.Usage data
Ramp · Jun 2026A New Look at AI's Impact on Jobs: Firm-Level AI Spending and Workforce Adjustment
Linking real AI spending to headcount, Ramp and Revelio Labs find heavy AI spenders grew staff, including entry-level roles, after a 6–12 month lag.Usage data
Menlo Ventures · Dec 20252025: The State of Generative AI in the Enterprise
Enterprise generative AI spend reached an estimated $37B in 2025, split roughly evenly between applications and infrastructure.Executive survey

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17 reportsBeyond usage: what AI actually doesExperiments, payroll data and spending records that measure outcomes, not whether people say they use AI.

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