According to Menlo Ventures, enterprise AI spending reached $176.8 billion by September 2026, compared with $33 billion in 2025. This represents a 4.7-fold increase, while companies had projected only a 1.9-fold increase. Adoption is concentrated around a small group of heavy users, while AI agents account for 80% of tokens generated on OpenRouter. Investors will closely monitor Anthropic’s valuation, which could be affected by new funding rounds or strategic partnerships with Amazon and Google.
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