Status of AI Business Adoption

By Brian Wang

Dr Alan Thompson reports that OpenAI says 92% of Fortune 500 companies are subscribed to GPT, and the average spend by each organization has now hit US$18,000,000 per year.

In 2023, the average spend across foundation model APIs, self-hosting, and fine-tuning models was $7M across the dozens of companies that megaVC Andressen Horowitz spoke to. Nearly every single enterprise they spoke with saw promising early results of genAI experiments and planned to increase their spend anywhere from 2x to 5x in 2024 to support deploying more workloads to production.