Corporate AI spending estimated at $176.8 billion... Anthropic and 2 other companies account for 69

Enterprise spending on AI reached an estimated $176.8 billion annualized as of September 2026, with Anthropic, OpenAI, and Alphabet’s Google capturing 69% of that outlay, according to a Menlo Ventures “2026 State of Enterprise AI” report drawing on a Morning Consult survey of about 400 U.S. corporate AI spending decision-makers conducted September 8–26, 2026. Respondents alone controlled more than $4 billion in AI spending. The $176.8 billion figure is an annualized September run rate, not a year-to-date total, and was derived from public disclosures and outside reports rather than a simple sum of surveyed budgets. The concentration underscores how three model providers dominate enterprise AI budgets, making their pricing, product cycles, and capacity allocation the key variables for the broader AI infrastructure and software supply chain.