The adoption of AI tools by businesses slowed in August, according to spending data from 70,000 companies collected by payments company Ramp. The survey shows that 56% of Ramp customers paid for AI products in August, up only 0.4% from July.

While this isn’t the first time Ramp’s metrics have shown a slowdown, the extreme pace of the AI buildout means even small dips can be concerning. Large tech companies like OpenAI and Anthropic have cut prices, leading to falling token costs and employees opting for older, cheaper models.

However, the data also suggests that the labs have yet to make up for these price cuts with increased volume. Slower adoption could threaten the dynamic of recouping costs in the first weeks of a new model’s release. For now, the focus is on winning over non-technical users for AI co-working tools.

This data point – a potential blip – could be a bad sign for model-builders and hyperscalers with big chip orders. But, as Ara Kharazian, an economist at Ramp, notes, ‘it depends on who you are in the market. If your company is using AI, it’s great.’