Business spending on AI surged 500% this year to $13.8 billion, says Menlo Ventures

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Enterprise spending on generative AI surged 500% this year, hitting $13.8 billion — up from just $2.3 billion in 2023, according to a new Menlo Ventures report.

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Category: Technology

Markets: United States

Topics: Articles Artificial intelligence Meta Platforms Inc Cnbc Generative AI US: News Source:tagname:CNBC US Source Breaking News: Technology Alphabet Class C AI - Artificial Intelligence Alphabet Inc Technology AI Effect Sam Altman Microsoft Corp Mobile Amazon.com Inc

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-20 @ 19:41:24 (1 days ago)

News Timezone: GMT -5:00

News Source URL: cnbc.com

Language: English

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CNBC

News ID: 23724417

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