Ramp data shows AI spending stalling just as Anthropic nears its IPO
Data from the financial platform Ramp indicates that corporate spending on AI has flatlined despite an increase in usage volume. This trend suggests that price competition and market saturation may be limiting revenue growth for major AI firms like OpenAI and Anthropic.
Why it matters
This data challenges the assumption of perpetual hypergrowth in the AI sector, potentially impacting investor confidence ahead of upcoming IPOs.
Companies are using more AI than ever, but they’re not spending more on it.
A new report from Ramp shows AI spending flatlined over late summer even as token volumes rose, a sign that price competition and savvier customers may be capping revenue for OpenAI and Anthropic. According to Ramp’s data, token spend only grew 1.5% across August and September. To compare, in July, it grew 42% from the previous month.
As Anthropic gears up for its IPO , the data suggests investors might be wrong to assume AI companies will keep growing at breakneck speed.
Also covering this story
2 other newsrooms covered this event. We read each version separately.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in