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Token spend is the new cloud bill

Victoria1 min read

Ramp — the corporate spend platform that's become one of the better real-world data sources on how businesses actually spend money — just launched Ramp AI Spend Intelligence, a tool to help companies track their AI costs across model subscriptions, API spend, and tool sprawl. The pitch is simple: most finance teams have no idea what they're actually spending on AI right now.

The more interesting thing is what Ramp's data shows. Across 50,000+ businesses on their platform, average monthly token spend has grown 13x since January 2025. Not ARR, not valuation — actual tokens purchased by actual companies. The curve goes nearly vertical from January 2026 onwards.

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