Fable 5 Expenditure at 11.4%, Changes in AI Adoption

Anthropic's AI model, Claude Fable 5, accounted for 11.4% of corporate spending in July. According to Ramp's AI index, Fable 5 recorded 6% of the tokens purchased for the Anthropic model. The expenditure share for Fable 5 remained around 11% even two months after its launch, while the lower-cost model, Claude Opus 5, surpassed Fable 5 in corporate spending following its release at the end of July. Companies are showing a tendency to consider cost-effectiveness rather than applying high-performance models to all tasks. OpenAI's GPT-5.6 contributed to revenue recovery at a lower price, with this quarter's annualized revenue increasing by 35%, surpassing $40 billion. The low expenditure share of Fable 5 is putting pressure on the revenue structure of AI companies, and there is a growing preference among corporate clients for lower-cost models. Ramp reported that in July, Anthropic accounted for 43.5% of paid usage among U.S. companies, surpassing OpenAI's 39.7%. The top 1% of companies in AI spending spent a median of $7,400 per employee.

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