Enterprise AI Spending Reaches $177 Billion

A Menlo Ventures report puts enterprise AI deployment spending at $177 billion, up from $33 billion a year earlier, roughly 5.4 times, with 69% flowing to Anthropic, OpenAI and Google against 50% previously, and Anthropic holding 55% of the API segment. Both halves of that sentence matter: the market is growing fast and concentrating at the same time. A pie that narrow is not a market of applications, it is a toll road with three booths.