[sameer_singh17]

That's a publicly reported number and widely cited. It includes all revenue from the labs and hyperscalers. Menlo Ventures themselves reported that all enterprise AI spend in 2025 totaled $37B.

Yes, hyperscalers claim there's a lot of demand. A lot of that demand isn't actually priced, e.g. demand for Nano Banana.

[aurareturn]

Microsoft, Google, Amazon, and software companies like Adobe, Figma, Salesforce do not break down AI-only revenue.

How can they know?

How do they know how much revenue some viral AI app on iOS is generating?