Ramp October index: US corporate AI spending hits record high but growth slows

Ramp's October AI spending index shows that US corporate AI spending rose 1.65% month over month, with total spending hitting a new high but growth moderate. The top 1% of companies by spending had median spending of $10,200 per employee per month, up 9% month over month, while ordinary companies spent only $16.32. By AI vendor, spending by OpenAI customers rose 2.1% month over month, while spending by Anthropic customers rose only 0.5%. The index is based on payment data from more than 85,000 US business customers of Ramp, but free AI tools and usage through personal accounts may not be counted. Ramp says that separate metrics such as token usage and spending come only from companies using Ramp Token Spend Management and do not represent overall AI spending on the platform. Ramp also says its customer base skews toward growth-oriented, more technology-familiar, and larger-than-average US businesses, so the index may overstate AI adoption.

AI overview based on source reports · Updated 3 days ago