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AI Gross Margins Are Up, R&D Spend Is Way Up, AI Pricing is a Mess: 5 Key Takeaways from ICONIQ’s State of AI Report

ICONIQ Capital just released their January 2026 “State of AI: Bi-Annual Snapshot” report, surveying approximately 300 executives at software companies building AI products. The respondents include CEOs, Heads of Engineering, Heads of AI, Heads of Product, CROs, and CFOs. The companies span a wide range: from sub-$5M to $1B+ in ARR, with growth rates from…
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