Ramp data: 80% of OpenAI and Anthropic enterprise revenue comes from just 1% of customers
iamtrask · x · 2026-10-10
An analysis based on Ramp corporate payment data shows AI revenue is extraordinarily concentrated: just 1% of customers account for 80% of OpenAI and Anthropic's enterprise revenue and usage, with no sign of improvement — a level of concentration risk unseen in any other software category.
- Customer profile: The top 1% skew heavily toward tech-sector and AI product companies, which are highly correlated — a serious systemic risk heading into blockbuster OpenAI/Anthropic IPOs if the market corrects.
- Nathan Benaich's take: Codex and token usage is growing far faster among legal professionals, recruiters, and marketers than developers — "it's just a case of, what do I put in my text box?"
- Adoption gap: Tools are built by the 1%, while the 99% lack the education to use them; he calls for a "Genius Bar / Geek Squad for AI."
- Context: Not long ago Sam Altman said on a panel "we have no idea how this AI's gonna make money" — the data now offers a partial answer.
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