Ramp: Anthropic's Fable 5 Plateaus at 11% as Opus 5 Overtakes

Two months after launch, Anthropic's flagship Fable 5 accounts for about 11% of what customers spend on Anthropic tools, according to payments company Ramp, which analyzed 70,000 businesses. Ramp puts GPT-5.6 Sol at 23% of OpenAI dollar spend and 25% of tokens, while Fable 5 sits at 11.4% of dollars and just 6% of tokens.

The gap has a price tag. Fable 5 costs roughly $10 per million tokens, about double GPT-5.6 Sol, and in July it generated only 75% as much revenue as OpenAI's flagship. "With Fable 5, we've found a new upper bound for how much businesses are willing to spend on AI," Ramp writes in its August index.

Claude Opus 5, launched in late July at a price below Fable 5, has already overtaken the flagship in enterprise spending, Ramp told the FT. Anthropic's Fable also carries a 30-day data-retention requirement that Ramp economist Ara Kharazian flagged as a drag: "GPT-5.6 Sol is really good, increasingly the choice for developers. Fable 5, meanwhile, disappointed both in adoption and real-world application given price + data retention requirements."

Anthropic still leads OpenAI on Ramp's broader adoption count, at 43.5% of tracked U.S. businesses versus 39.7% in July, and its annualized revenue run rate reached $65 billion that month, up from $47 billion in May. But Accel partner Miles Clements told the FT that the period when customers reached first for flagship models "was not a sustainable era." "Most people don't need to operate at the frontier," he said.

The alert slots into a run of cost-pressure Anthropic stories we've been tracking on the Anthropic feed, including this week's Fractile chip talks.