Ara Kharazian
NEW from Ramp AI Index: AI spend *declined* among the top 1% of businesses spending on AI. In August, the top 1% of businesses spent $7.2K per employee per month, down 10% from a July peak ($8K). We're seeing more cracks in the AI thesis as a number of drivers show spend topping out. My take: it's not because of open Chinese models. It's model wars. Price cuts + a growing share of spend is shifting to standard and lite models (which are already cheaper) over the frontier.
