Anthropic Surpasses OpenAI in Business Spending as Government Ban Rattles IPO Prospects

Anthropic Surpasses OpenAI in Business Spending as Government Ban Rattles IPO Prospects

San Francisco, June 18, 2026 — Anthropic has overtaken OpenAI in the share of business spending on AI tools for the first time, according to new data from corporate spend management platform Ramp, even as fresh U.S. government restrictions on its most advanced models create fresh uncertainty around the company’s planned IPO.

In May 2026, Anthropic captured 41% of AI-related subscription spending by businesses tracked by Ramp across more than 70,000 companies. OpenAI followed closely at 39.5%, marking the first month Anthropic has led in the enterprise segment.

Strong Momentum Despite Regulatory Headwinds

The milestone comes as Anthropic continues its aggressive push toward a public listing. The company recently raised $65 billion in a funding round that valued it at $965 billion — surpassing OpenAI’s valuation at the time — and confidentially filed paperwork for an IPO. It has also reported reaching or approaching its first profitable quarter.

However, Anthropic’s IPO timeline now faces complications from escalating tensions with the Trump administration. Last week, the government demanded that the company block non-Americans — including some of its own employees — from accessing its cutting-edge models, including the limited-release Mythos 5 and the more widely available Fable 5.

The move is part of broader U.S. efforts to restrict access to advanced AI systems amid national security concerns. Anthropic has been fighting related restrictions in court after being placed on a federal “supply chain risk” list earlier this year.

Irony: Restrictions May Be Boosting Business Demand

Interestingly, the regulatory pressure appears to be having the opposite effect on commercial sales. Ramp’s data shows Anthropic’s business market share rising 2.5 percentage points in May, while OpenAI’s remained essentially flat.

Ramp lead economist Ara Kharazian noted that the high-profile feud with the administration may be reinforcing perceptions of Anthropic’s models as particularly powerful, driving enterprise interest.

“While OpenAI continues to dominate overall consumer usage, businesses are increasingly choosing Anthropic for their AI workloads,” Ramp’s analysis concluded.

The AI Arms Race Intensifies

The shift highlights the intensifying competition between the two AI leaders:

• Anthropic (backed by Amazon and Google) has positioned itself as a more safety-focused alternative with its Claude models.
• OpenAI (backed by Microsoft) maintains a strong lead in consumer applications through ChatGPT but is facing growing pressure in the higher-value enterprise segment.

Both companies are burning through enormous amounts of capital on compute and talent while racing to reach public markets. Wall Street is watching closely to see which business model proves more sustainable once they face quarterly scrutiny as public companies.

What’s Next for Anthropic’s IPO

The government restrictions add a layer of complexity to Anthropic’s IPO preparations. Potential investors will likely scrutinize how the company navigates regulatory risks, international access restrictions, and its heavy infrastructure spending.

Despite the challenges, Anthropic’s strong momentum in the business market and recent valuation gains have positioned it as one of the most valuable private companies in the world.

Industry observers say the coming months will be critical as both Anthropic and OpenAI prepare for what could be among the largest and most watched IPOs in tech history.

Mark Smith
Follow us on X @realnewshubs and subscribe for push notifications