How Much Companies Actually Spend on AI
Source: Azeem Azhar, Exponential View
Azeem Azhar's team built the first deduped, bottom-up accounting of AI spending across the full stack. The methodology cuts through marketing claims and double-counted vendor revenue. For commerce, the granular view reveals where real money flows: infrastructure vs. applications vs. implementation services. It surfaces actual winners and losers in the AI economy rather than companies with the best PR. For trend watchers, this is the baseline data layer needed to distinguish which AI bets are attracting capital from which are running on hype.