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The Public Company AI Adoption Tracker

A live research project that tracks and analyzes real-time AI adoption disclosure across the S&P 500.

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Curious who?

S&P 500 ranked by disclosed AI exposure.

The Public Company AI Adoption Index scores every S&P 500 company on three dimensions — how mature the deployment is (Depth), how willing management is to put numbers on impact (Disclosure), and how pervasive AI is across the company’s operations (Breadth). The composite reads at a glance; the pillar mix tells you why.

392 non-tech companies ranked. Every score ties back to verbatim quotes from the company's earnings call.

See the full Index
Public Company AI Adoption Index · Top 5 Non-Tech
1SPGI85
S&P Global Inc.Financials
2EQIX84
Equinix, Inc.Real Estate
3ETN83
Eaton Corporation plcIndustrials
4CBRE83
CBRE Group, Inc.Real Estate
5BX79
Blackstone Inc.Financials
Depth · 40%Disclosure · 40%Breadth · 20%
Findings

Who actually reports AI revenue? 42 companies, 8 outside tech.

79% of the S&P 500 talk AI on earnings calls. We graded all 42 revenue disclosures by how hard the evidence is, with the verbatim quote for each.

See the full list →
79%
talk AI on earnings calls
42
disclosed AI revenue
8
are outside tech
4
reported a segment figure
What "disclosed AI revenue" actually means
4
15
1
6
16
Live
AI Adoption Tracker · S&P 500 · Q1 2026 · n = 463
61 of 463 report AI monetization. Outside tech, just 15.
AI Adoption Level
Silent
Exploring
Piloting
Scaling
Monetizing
S&P 500 Overall
n = 463
99
70
88
145
61
Information Technology
n = 71
Financials
n = 70
Communication Services
n = 16
Consumer Discretionary
n = 40
Health Care
n = 54
Industrials
n = 77
Real Estate
n = 30
Utilities
n = 29
Energy
n = 21
Consumer Staples
n = 29
Materials
n = 26

Tap any segment to see the companies and their verbatim quotes.

Outside tech, just 15
Only 15 monetizers are non-tech, split two ways. Nine are AI-infrastructure plays: Equinix, Eaton, Johnson Controls, Jacobs, Alliant Energy, Evergy (utilities powering hyperscalers), Williams, Blackstone ($150B+ AI-infra portfolio), Apollo ($8B+ AI-infra financings). Six monetize AI inside their own products: S&P Global, IQVIA (iqvia.ai), Welltower (welltower.ai), Axon (Draft One report drafting + AI evidence analysis), News Corp (content licensing to LLMs), and Walmart (Sparky shopping agent — weekly active users up 100%+ in a quarter).
The silent
99 companies (21%) said nothing about AI on their earnings call. Over half of Consumer Staples were silent (Coca-Cola, Philip Morris, Hershey, General Mills) — and 15 Industrials skipped AI too (UPS, Honeywell, Norfolk Southern, Delta).
WireSift Research · 463 of 503 S&P 500 reported · as of 2026-05-25Editorial: Tesla as Tech (FSD, Optimus, robotaxi); Amazon as Tech (AWS dominates AI commentary); Alphabet as Tech (Cloud, Search, Workspace); Meta as Tech (AI infra, Llama, AR/VR); Airbnb as Tech (platform business, AI personalization); DoorDash as Tech (platform business, ML-driven logistics); Alphabet Class A (GOOGL) consolidated into Class C (GOOG); News Corp Class A (NWS) consolidated into Class B (NWSA) — same legal entity, same call; Fox Corp Class B (FOX) consolidated into Class A (FOXA) — same legal entity, same call.
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Live
AI Supplier Leaderboard · S&P 500 · Q1 2026 · n = 463
Google commands the hyperscalers. OpenAI and Anthropic neck-and-neck.

Across 463 S&P 500 earnings calls, Google leads at 39, over 2x Microsoft (19) and nearly 3x AWS (14). OpenAI (37) and Anthropic (35) sit within two companies for the model-provider lead; NVIDIA (36) between them in third.

Tap any supplier to see the companies and the source data.

WireSift Research · 463 of 503 S&P 500 reported · as of 2026-05-25Counts the number of distinct S&P 500 companies that named each supplier on their Q1 2026 earnings call. Top 8 shown.
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Live
Hyperscaler AI Mention Inversion · S&P 500 · Q1 2026 · n = 463
Google leads AWS 2.8x in S&P 500 AI partner mentions. Inverse of cloud market share.

Across 463 S&P 500 earnings calls, Google is the most-named hyperscaler AI partner at 39 companies. Microsoft sits at 19. AWS — the largest cloud provider by revenue — trails at 14.

Tap any bar to see the companies and the verbatim quotes.

WireSift Research · 463 of 503 S&P 500 reported · as of 2026-05-25Counts the number of distinct S&P 500 companies that named each hyperscaler on their Q1 2026 earnings call. Brand variants merged: Amazon includes AWS, Bedrock, Amazon Web Services, Amazon Ads. Microsoft includes Azure. Google includes Google Cloud, GCP, Vertex.
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The question

Everyone says AI is transformative.
What are companies actually telling investors under oath, and how specific are they?

AI commentary on earnings calls is dense, narrative-heavy, and hard to compare across companies. This project runs every S&P 500 earnings transcript through a structured extraction pipeline, producing a comparable dataset of every AI claim management makes — speaker, role, section, specificity score (1–5), and the verbatim quote.

The dataset answers questions the headlines can't: who is quantifying real AI revenue (vs. forward-looking metrics), what analysts ask that management refuses to answer, and how AI exposure varies sector to sector. Updated as new calls land.

The framework

Three buckets of AI exposure.

Across 463 companies, the AI conversation splits cleanly along the dominant type of exposure: who's supplying the buildout, who's using AI internally, and who's selling AI as part of their product. Each bucket maps to a distinct set of sectors.

customer_demand_signal

Suppliers to the buildout

Mostly suppliers to the buildout — selling power, real estate, fuel, and physical materials. A few in this cohort sell AI itself (Welltower, CoStar).

Dominant in
  • Real Estate
  • Energy
  • Utilities
  • Materials
internal_use

Internal productivity

Mostly using AI inside the company for productivity — banks, telecom, packaged-goods. A few build AI into their products (S&P Global, MSCI).

Dominant in
  • Communication Services
  • Consumer Staples
  • Financials
product_embedded · product_standalone

AI in products

AI inside the products being sold — software, medtech, industrial automation. The cohort with the most quantified revenue.

Dominant in
  • Information Technology
  • Health Care
  • Industrials
Methodology · v2.2

Auditable. Cross-validated. Versioned.

  • Single-pass extraction via Claude Sonnet 4.6. Every claim must be backed by a verbatim quote that exists in the source transcript.
  • Cross-model validation on a 10% random sample using Claude Opus 4.6. Aggregate agreement: 80% on substantive judgments.
  • Schema versioned with semver. Old extractions are never deleted; methodology changes are logged in the public changelog.
  • Quality gates run on every extraction — quote integrity, scope coherence, and schema compliance. Flags surface for manual review.
Open methodology — schema and prompts published at github.com/adjdunn/ai-earnings-research
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