Technology
Ramp report says AI spending flatlined as token volumes kept rising
TechCrunch reports, citing Ramp data, that AI spending flatlined over late summer even as token volumes rose.
The short version
- A Ramp report cited by TechCrunch says corporate AI spending flatlined in late summer while token volumes rose.[TechCrunch]
- Token spend grew just 1.5% across August and September, compared with 42% growth in July.[TechCrunch]
- Bloomberg reports Anthropic's potential valuation fell to $1.2 to $1.3 trillion, and OpenAI cut its proposed valuation to $1.25 trillion.[TechCrunch]
- Whether October's 8.9% rebound signals a durable recovery remains unclear, according to Ramp's economist.[TechCrunch]
Key facts
- A Ramp report shows token spend grew only 1.5% across August and September.[TechCrunch]
- Token spend grew 42% from the previous month in July, according to the same Ramp data.[TechCrunch]
- Almost the entire AI spend comes from venture-backed, high-growth tech companies, according to Ramp lead economist Ara Kharazian.[TechCrunch]
- Token spend rose 8.9% from September 23 to October 23, a re-acceleration Kharazian said faces strong headwinds.[TechCrunch]
- OpenAI cut API prices in half in September for GPT-6 Sol and GPT-6 Luna.[TechCrunch]
- Anthropic reduced pricing for Fable 5.1 and Opus 5.5, a decision the company said in a recent filing cut revenue growth by about $600 million.[TechCrunch]
- Bloomberg reported that Anthropic's potential valuation fell from an estimated $2 trillion in early October to $1.2 to $1.3 trillion.[TechCrunch]
- OpenAI lowered its proposed valuation to $1.25 trillion from $1.4 trillion and cut its latest fundraising goals by about $10 billion.[TechCrunch]
What remains uncertain
- Bloomberg's reported Anthropic valuation range and expected high junk credit rating are reported, not confirmed, and TechCrunch does not independently verify them.[TechCrunch]
- It is unclear whether October's re-acceleration will persist, since Ramp's economist said headwinds on spend growth are strong.[TechCrunch]
Sources
Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.