08Companies Explore at your pace
What do companies say about AI?
Explore the IC 100, a fixed 2026 cohort of 100 public companies. Choose a company to read its annual filing passages beside reported financial figures, or compare all 100 companies side by side.
1 Choose a company
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2 What the 10-K says
AI mentions per 10,000 words, by section Measured
Counts of "artificial intelligence" and the standalone acronym "AI" per 10,000 words in each section. Each point is one 10-K, labeled by the month its fiscal year ended.
In what context? Passages in the latest 10-K Model-classified
3 Read the passages
Each passage is quoted from the filing. The link opens its source filing on SEC EDGAR.
4 What the financial statements show
Total capex (all purposes) as a share of revenue Reported
Which firms capture the returns from AI investment is a central question in Intelligence Capitalism by Bharat Rao.
5 All 100 side by side
Latest 10-K for each company. Select a company to open its record. There is no combined score: talking about AI more is not the same as investing more.
Sources and method
Selection. The IC 100 is a fixed annual reading list, not an investment index. Five groups contain 20 companies each. Revenue determines 99 seats; one published editorial anchor occupies the remaining seat. Inspect the eligibility rules, group overrides and complete roster.
- SEC EDGAR: Form 10-K filings from 2016 through the September 27, 2026 snapshot, plus Exhibit 13 where the annual report is filed there.
- SEC XBRL company facts: revenue, operating cash flow and total capital expenditure from each filing's fiscal year. Capital expenditure covers all purposes, not only AI.
Mentions and passages. The tool counts "artificial intelligence" and standalone "AI" in Item 1, Item 1A and Item 7 and shows mentions per 10,000 words. If sections cannot be separated reliably, it labels and uses the whole filing. Every shown passage links to its original filing.
Context labels. Language models classify passages as company AI activity, risk disclosure or other. Company AI activity includes offerings, internal use and infrastructure. These are estimates, not company statements. In a 505-passage comparison sample, the two models agreed on 73.5% of the three labels. A label should not be read as a precise measure of spending or intent.
Deeper filing-language study. The separate topic scan publishes its term dictionary, source coverage and text-pattern limitations.
Financial figures. Revenue, operating cash flow and total capex are reported or derived from SEC XBRL for the same 10-K. Headcount is taken from a company-wide filing statement where available. "Explicit AI investment" is shown only for a specific AI-only amount; mixed-purpose amounts remain notes. There is no combined or synthetic score.