1% of firms drive 80% of AI spending as growth nearly stalls

Ramp data shows that just 1% of firms account for 80% of AI spending on OpenAI and Anthropic, and growth in that spending has nearly stalled. The extreme concentration means the AI boom is fragile, since a pullback by a handful of large buyers could sharply cut revenue. Crypto traders care because AI-linked tokens and datacenter-adjacent crypto narratives have been priced on continued AI spending growth.