Top 10% of customers account for 99.5% of model-serving spend, Ramp data shows

rohanpaul_ai · x · 2026-09-28

Ramp data shared by Apollo's chief economist Torsten Slok shows the top 10% of customers account for 99.5% of model-serving spend and 99% of neocloud spend, leaving the bottom 90% of firms with just 0.5% and 1%.

Rohan Paul points out a structural reason this is misleading: many small companies never pay a model vendor directly — they get AI inside a CRM, help-desk tool or code editor, with the software company paying the AI bill and folding it into the subscription. Part of that top 10% is likely software companies paying on behalf of thousands of smaller customers, so the long tail is probably using far more AI than its own bills show.

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