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6 November 2026

AI token spending flattened in late summer, as Anthropic nears its IPO

First reported

TechCrunch and The Verge ran this on , all on the same day.

  • Ramp, a company that tracks business card and expense spending, found AI token spend grew only 1.5% across August and September.
  • Ramp's lead economist Ara Kharazian blames price cuts from OpenAI and Anthropic, plus firms getting better at controlling AI costs.
  • Bloomberg reports Anthropic's potential valuation fell from $2 trillion to $1.2-1.3 trillion, while OpenAI's valuation was cut to $1.25 trillion.

Our read

Earlier on this story

Written by Newskeryx from which newsletters covered this story and from our own archive.

Reported by TechCrunch, The Verge