Ramp's corporate card and token spend data for July 2026 shows Anthropic still leading business AI adoption while OpenAI's growth slowed. One month after launch, Anthropic's most capable and most expensive model, Fable 5, accounted for a small fraction of the tokens and dollars businesses bought from Anthropic. Ramp's economist reads this as a ceiling on what firms will pay for extra model performance, and notes the sample skews toward technology companies.
What changed
Earlier readings showed businesses steadily broadening spend with the leading American AI labs, with top-end model releases assumed to pull adoption upward.
What it unlocks
A benchmark for what share of AI budget the most expensive frontier model actually captures, useful when negotiating or budgeting model spend.
- 43.5% of businesses pay Anthropic
- 39.7% pay OpenAI
- Fable 5: 6% of Anthropic tokens
- ~$10 per 1M tokens for Fable 5
Sources