SPGI · Earnings call · 2026Q3T · Full report

AI Product Adoption

S&P Global Inc. · 2026-10-27 · Importance 57 · Surprise 64

Management said demand for AI products is strong, and customers using S&P solutions are increasing their spending faster than other customers. Market Intelligence ACV growth among AI customers was 1.8 times the rate for non-AI customers, while Energy was approximately three times; API call volume rose nearly 50% sequentially and more than 4,000% year over year. S&P combined MCP tools and adaptive retrieval agents into a single AI data portal and added Ratings, Energy, and Visible Alpha data to MCP. Management cited a large competitive displacement combining Market Intelligence financial data and AI portal solutions, plus a large global energy-company deal combining an upstream win-back with AI-ready data; it said customers value the data’s performance and lower error rates and that AI-rights negotiations are normalizing with pricing that protects intellectual property.

Key facts

• S&P Global said it would apply standard terms and conditions across business areas to address customer AI rights, and viewed the issue as resolved going forward.
• S&P Global Market Intelligence ACV growth among customers using its AI solutions was 1.8 times the growth rate of non-AI customers.
• S&P Global Energy ACV growth among customers using its AI solutions was approximately three times the growth rate of non-AI customers.
• S&P Global API call volume grew nearly 50% since the second quarter of 2026 and more than 4,000% year over year.
• S&P Global signed a large, multiyear competitive displacement deal combining its financial data business with Market Intelligence AI data portal solutions during the third quarter of 2026.
• S&P Global signed a very large deal with a global energy company combining an upstream win-back with AI-ready data.
• S&P Global said broader renewals for AI-ready data distribution deals have seen price increases that helped drive subscription growth, and it expects this to continue.
• S&P Global said adaptive retrieval products could support consumption-based pricing models as clients query nuanced questions across multiple S&P Global datasets.