Ramp data: enterprise token usage +65% but spend +1.5%; Anthropic IPO valuation talk falls to $1.2–1.3T
dotey · x · 2026-11-07
Ramp's AI index (via chief economist Ara Kharazian, reported by TechCrunch) shows enterprise AI usage and spending decoupling: tokens consumed rose 65% from early August to mid-October while spend rose just 1.5%, as OpenAI's GPT-6 price cuts and Anthropic's Fable 5.1/Opus 5.5 efficiency drove blended prices down 27% in a month. The top 1% of spenders ($9,568/employee/month) drive 80% of enterprise spend and haven't returned to July peaks. With Anthropic preparing an IPO, valuation expectations have slid from $2T to $1.2–1.3T, threatening investor assumptions of AI hypergrowth.
Related event: Ramp data: enterprise token usage up 65% while spending grows just 1.5%(3 posts)→
More from Venture
- AI supplier multiples fall ~15% post-selloff, below analyst growth forecasts — BenBajarin · 2026-11-07
- AI labs pay up to $2M for corporate work files and emails, data trade may rival compute — pmddomingos · 2026-11-07
- VC says an 11.6x exit left him unhappy — 'barely moves the needle' for seed funds — DesireeCachette · 2026-11-07
- Musk: 20-30M humanoid robots could match entire US output; Tesla may rent Optimus instead of selling — XFreeze · 2026-11-07
- Musk says SpaceX on track for $100B annualized revenue in December, $500B next year — XFreeze · 2026-11-07
- OpenAI revenue grew 70% in Q3, CFO says, targeting IPO next year — timshi_ai · 2026-11-07