Anthropic’s best AI model struggles to attract users as cheaper tools thrive

Ramp's AI index, based on billing data from 70,000 companies, shows Opus 4.8 accounted for 28.0% of Anthropic model spend in July 2026. An FT report citing people with knowledge of the matter put Anthropic's annualized revenue at $65bn, up from $47bn in May, with 6,000 customers spending $100,000 or more annually. OpenAI's annualized revenue exceeded $40bn, boosted by GPT-5.6's July launch. Fable 5's spend share was 8.0%.