Anthropic’s best AI model struggles to attract users as cheaper tools thrive
Anthropic's Fable 5 captures only 8% of enterprise spend, far behind cheaper Opus 4.8 at 28%.
“It also told investors that it had 6,000 customers that spend $100,000 annually or more.”
Ramp billing data from 70,000 companies shows Anthropic's flagship Fable 5 at just 8% of spend versus Opus 4.8's 28%, indicating its premium cost is suppressing adoption despite being the best-performing model. Anthropic's overall annualized revenue nonetheless surged from $47bn in May to $65bn in July 2026, with Q3 expected to be profitable and 6,000 customers spending $100k+ annually. Meanwhile OpenAI crossed $40bn annualized revenue, driven by a strong GPT 5.6 launch in July.