# Ramp data shows AI spending stalled as Anthropic prepares for its IPO

- Published: 2026-11-06T15:54:47.000Z
- Updated: 2026-11-06T22:10:49.904Z
- Section: Market
- Topics: Business
- Page: https://aidailyjournal.com/en/n/2026/11/06/ramp-data-shows-ai-spending-stalled-as-anthropic-prepares-for-its-ipo/
- Sources: [TechCrunch](https://techcrunch.com/2026/11/06/ramp-data-shows-ai-spending-stalling-just-as-anthropic-nears-its-ipo)

## Summary

Ramp data shows that companies’ token usage rose, but AI spending grew only 1.5% from August to September, compared with 42% in July. Ara Kharazian, Ramp’s lead economist, told TechCrunch that the heaviest-spending companies saw a slight pullback, enough to hold back revenue despite higher usage; in October, spending re-accelerated 8.9% from September 23 to October 23.

Kharazian said the trend does not indicate a demand problem, but a more competitive market. He pointed to price cuts by OpenAI and Anthropic, enterprise discounts, and cheaper or open-source models as factors reducing the cost of use. Anthropic said in a recent filing that its price reductions cut revenue growth by about $600 million. Kharazian said the era of hypergrowth may be over, challenging investor expectations as Anthropic prepares for its IPO.

## Why it matters (editorial interpretation)

Higher usage alongside slower spending growth could put pressure on AI companies’ revenue expectations. According to Ara Kharazian’s analysis and an Anthropic filing, price cuts and discounts are reducing revenue generated by that usage, without indicating a lack of demand.

_Summary written by AI Daily Journal in its own words, based on the sources above. For details, read the original articles._