Menlo Ventures: Enterprise AI spend hits $177B in 2026

Menlo Ventures reports that enterprise AI deployment spending surged to $177 billion in 2026, driven largely by the rise of AI agents that have become the dominant consumers of model usage. Frontier labs such as Anthropic and OpenAI captured the vast majority of API spend and deployment dollars, while open-source models gained significant usage share despite commanding a small fraction of spending. Open article →