Menlo Ventures: enterprise AI deployment spending reaches $177 billion
According to Menlo Ventures, enterprise AI deployment spending reached $177 billion by September 2026, up from $33 billion a year earlier.
By GennnAi··1 min read
Anthropic, OpenAI and Google capture 69% of the spending, versus 50% a year earlier. Anthropic's share of enterprise API spend rose from 40% to 55%, OpenAI's from 27% to 31%, while Google's fell from 21% to 9%. Agents account for 80% of tokens on OpenRouter. Open-source models represent 4% of spend but 19% of usage. Coding is the largest application category, at $34 billion, ahead of chatbots at $25 billion.
Source: Menlo Ventures, published on November 3, 2026.