Menlo Ventures: Enterprise AI Spending Reaches $176.8 Billion Annualized

Global enterprise AI deployment spending reached an annualized $176.8 billion by September, up from $33 billion a year earlier, according to Menlo Ventures research cited by BlockBeats.

Model and deployment spending

Menlo’s report said paid enterprise adoption rose from 55% to 65%, while three model providers accounted for 69% of deployment spending. Anthropic’s share of enterprise API spending rose from 40% to 55%; OpenAI’s increased from 27% to 31%, while Google’s fell from 21% to 9%.

Agent and coding tools

BlockBeats said OpenRouter agents accounted for 80% of platform token consumption and that Claude Code and Codex together represented 70% of coding-tool spending. These figures are estimates in the cited Menlo Ventures report.

Source: BlockBeats English report, published Nov. 4, 2026. The Menlo Ventures report is available here.