Anthropic's flagship Fable 5 stalls: cheaper models win enterprise spend
Two-plus months after launch, Anthropic's most capable model pulls in only about 11% of companies' spending on the lab's tools, per Ramp data across 70,000 businesses. Corporate buyers are trading frontier capability for cheaper rivals like DeepSeek that are "good enough." It is a sobering signal for an IPO the market could value at $2 trillion or more.