AI gross margin: how AI spend hits SaaS profitability
AI gross margin is what remains of SaaS profitability after inference, model routing, and AI infrastructure land in cost of revenue. The numbers have moved. AI products averaged 45% gross margin in 2025 and are projected near 53% in 2026, against the 70% to 85% that SaaS built its valuations on. The compression is real, measurable, and manageable for companies that can see their cost to serve.