Top 1% of US businesses spent $7,400 per employee on AI in July

The Ramp AI Index August 2026 update, authored by Ramp economist Ara Kharazian, explicitly reports July median AI spend per employee of $7,400 for the top 1%, $650 for the top 10%, and $11.95 for the median firm — matching all three figures in the claim precisely. These figures are independently reproduced by the-decoder.com and other outlets, and the originating Kobeissi Letter X post attributes them to Ramp. The Ramp AI Index page confirms the data source and authorship. The only minor caveat is the claim's phrasing 'per employee' where the primary source specifies 'per employee/month,' but the underlying figures and attribution are accurate.