Ramp data: AI token spend grew just 1.5% across August and September

Per TechCrunch's read of Ramp data, token spend grew 1.5% across August and September after 42% in July, then rose 8.9% from Sept. 23 to Oct. 23, while token volumes kept climbing. Ramp's economist attributes the stall mainly to price cuts and cost controls, not weaker demand, and notes the data skews to venture-backed tech firms.

HEAT

OUTLETS

1

FIRST SEEN

Nov 6, 2026, 10:54 ET

LAST SIGNAL

1d ago