This story is from October 1, 2026. For the latest, see today's news.
A new analysis from SemiAnalysis, cited by the Financial Times, estimates that roughly 90% of Anthropic's business comes from AI tools rather than simple use. Sources told the Financial Times that nearly a quarter of Anthropic's 2025 revenue came from just two customers, highlighting how concentrated its client base remains.
The report notes that agentic AI systems, which can complete multi-step tasks autonomously, consume far more computing power than standard chat-based AI, driving up costs for both providers and customers. This is prompting rethinking of how AI companies price their products, especially as frontier labs like Anthropic consider eventual public offerings.
The findings underscore broader questions about sustainability and revenue diversification in the AI industry as costs rise alongside adoption of agentic tools.
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