Companies used more AI over late summer but spent almost the same amount on it, according to payment company Ramp. AI token spending grew 1.5% across August and September, down from 42% growth in July.
Ramp economist Ara Kharazian said price cuts from OpenAI and Anthropic, along with companies’ efforts to use cheaper models, are lowering costs even as usage rises. Spending grew 8.9% from September 23 to October 23, but Kharazian said it is unclear whether new products will restore the rapid growth investors expect.
Why it matters
For companies buying AI, rising usage without rising bills may mean lower costs; for OpenAI and Anthropic, it raises questions about revenue growth, though the data does not establish how their future earnings will change.
