Ramp AI Index: US business AI spending rises 1.65% in October as OpenAI and Anthropic growth slows
Ramp's payment data from more than 85,000 US companies shows AI spending at a new high but barely growing, with OpenAI up 2.1% and Anthropic up 0.5% month over month; the sample skews towards tech-savvy firms.
Why it matters
The Ramp AI Index is one of the few monthly readings on whether US corporate AI spending is still accelerating, drawn from payment data at more than 85,000 companies. October's slowdown arrives as Anthropic markets its IPO on growth and as OpenAI reports $10 billion in quarterly revenue. The Decoder notes that Ramp's customers skew towards larger, tech-savvy firms, so adoption is probably overstated, and that free tools and personal accounts are missed. Watch whether customer-support spending becomes the next growth driver and whether falling token prices keep squeezing revenue.
Key facts
- October AI spend up 1.65% month over month
- Top 1% of companies: median $10,200 per employee per month, up 9%
- Typical company: $16.32, up less than $1
- Spending on OpenAI up 2.1%; on Anthropic up 0.5%
- 1% of companies drive 80% of OpenAI and Anthropic revenue on Ramp
- Average price per million text tokens fell 21%