Answer. The reference point buyers use is ICONIQ’s July 2026 figure: AI product gross margins of 52 percent on average, up from 41 percent in 2024, with two thirds reporting improved per-query unit economics. The Index does not yet collect margins; a gross margin band goes on every founder form from October. What the rooms do show is the pricing model behind the margin: usage 43 percent, outcome 24, flat 24 (base 148).
Source. YC Founder AI Report, September 2026 refresh; founder margin band from October. Open Future Forum, Enterprise AI Buying and Budget Index. Dataset DOI 10.5281/zenodo.21576019. Bases are unique people per instrument; bases under 40 are directional.
External comparator. ICONIQ State of AI, July 2026. External figures are context only; the source is not affiliated with this page and does not endorse it.
Questions to ask.
- Ask for margin by pricing model, not blended
- Separate inference cost from talent cost in COGS
- Check model-provider count and routing
- Compare to 52 percent, then ask why
Last refreshed September 2026. First-party data for this seat is collected from October 2026; until then this page interprets the September editions and contains no new survey data. Part of The Sept Reports for dealmakers.
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