Business spending on AI surged 500% this year to $13.8 billion, says Menlo Ventures
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Business spending on generative AI increased by 500% this year, reaching $13.8 billion, according to Menlo Ventures. OpenAI's market share in enterprise AI dropped from 50% to 34%.
November 20, 2024 | 8:00 pm
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Amazon (AMZN) may benefit from the surge in AI spending as it is a major player in cloud services, which are essential for AI deployment.
Amazon's cloud services are integral to AI deployment, and the significant increase in AI spending could lead to higher demand for its services, potentially boosting revenues.
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