Ramp data shows AI spending stalling just as Anthropic nears its IPO

Ramp data shows AI spending has stalled even as usage continues to climb, with price cuts and tighter cost controls among the largest spenders undercutting assumptions of AI hypergrowth. The timing matters because Anthropic is nearing its IPO, and investors will be weighing whether rising adoption translates into revenue. Watch whether spending resumes as new models launch or whether cheaper inference and budget discipline keep outlays flat.