Chainfir Capital flags plateau in AI spending as growth concentrates among largest customers

• Chainfir Capital’s analysis favors AI spending-management businesses with measurable revenue over companies selling intelligence at a loss to gain market share.
• Ramp’s US$ 1.85 billion funding round valued it at US$ 60 billion, roughly 30 times annualized revenue.
• Annualized revenue exceeded US$ 2 billion; annualized purchase volume topped US$ 275 billion.
• Ramp’s October AI Index showed paid AI adoption at 55.9%; token spending was flat for two consecutive months.
• Roughly 80% of Anthropic’s and OpenAI’s revenue came from 1% of firms, highlighting concentrated demand.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Chainfir Capital published the original content used to generate this news brief on October 18, 2026, and is solely responsible for the information contained therein.