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Fortune

Sheryl Estrada

Fortune 500 companies continue to beef up AI budgets: Wedbush analysis

Wedbush Dan Ives Fortune Nvidia Jensen Huang

Businesswoman pressing AI button on hologram virtual screen (Credit: Getty Images)

Good morning. CFOs are keen on determining the use cases for AI that deliver business value. And the process for doing so could be becoming less complicated.

Wedbush Securities has been monitoring dozens of large firms, including Fortune 500 companies over the past few weeks, according to a Monday industry note. Of the companies analyzed, overall, the firm estimates that AI now comprises roughly 12% of many IT budgets for 2025, up from 10% in January. In some cases, AI takes up to 15% of the budget, reflecting how many CIOs plan to accelerate their AI strategies over the next six to nine months. The companies analyzed were across verticals such as financial services, health care, transportation, logistics, manufacturing, software, and the services industry.

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