Ramp data shows AI spending stalling just as Anthropic nears its IPO
RebeccaBellan · x · 2026-11-07
Per TechCrunch, a new Ramp report shows corporate AI spend flatlined even as token volumes kept rising: token spend grew just 1.5% across August and September, versus 42% month-over-month in July. Price wars, competition and savvier customers may be capping revenue for OpenAI and Anthropic.
Ramp lead economist Ara Kharazian notes almost all AI spend comes from venture-backed, high-growth tech companies; if it slows, they all slow simultaneously with possible cascading effects. He suggests "the era of hypergrowth may be over" — challenging investor assumptions just as Anthropic approaches its IPO.
Related event: Ramp Data Shows Corporate AI Spending Growth Stalling(2 posts)→
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