US corporate AI spending hits a new high in October, but growth slows to 1.65 percent

According to the Ramp AI Index, US corporate AI spending rose just 1.65 percent in October 2026. One percent of companies still drive 80 percent of revenue for OpenAI and Anthropic. Customer support is emerging as a new growth driver, but it may bring lower margins than the coding business that has fueled spending so far.