US Corporate AI Spending Hits Record High in October with Slower Growth

On November 12, 2026, The Decoder published a report citing data from the Ramp AI Index showing that US corporate AI spending hit a new high in October 2026, even though the month-over-month growth rate slowed to 1.65%. The same report noted that the majority of revenue at OpenAI and Anthropic still comes from a very small group of large customers, with 1% of companies accounting for 80% of revenue at both companies. On the demand side, customer support is emerging as a new growth driver for AI spending, though the report cautioned that it may carry lower margins than the coding workloads that had fueled spending up to that point. The report did not provide additional details on the composition of the spending or the identity of the top buyers, and no further developments have been reported since the initial publication of the Ramp AI Index findings.