Leading Indicators

The data behind tomorrow’s business headlines.
Powered by transaction data from 70k+ companies on @tryramp

[Leading Indicators @leadinginds]

The most widely adopted AI support bots among companies buying them on Ramp, September 2026:

1. @intercom
2. @Zendesk
3. @Gorgias
4. @FreshworksInc
5. Drift

[Leading Indicators @leadinginds]

The share of companies paying for @AnthropicAI but not @OpenAI rose from 4.5% last year to 23.1% this year.

The share of companies paying for OpenAI but not Anthropic fell from 60.6% to 19.2%.

The single-vendor default flipped.

[Leading Indicators @leadinginds]

The number of companies buying AEO tools tripled in a year.

Adoption rate as of September 2026, share of AEO buyers on Ramp:

1. @profound - 52%
2. @peec_ai - 18%
3. @AirOpsHQ - 17%
4. @clearscope - 11%
5. @ScrunchAI - 9%

[Leading Indicators @leadinginds]

The rumors were true.

We looked at what employees are putting on the company card: pain on one side, pleasure on the other.

Endurance races doubled their share of company card transactions. Gyms and studios rose 37%.

Bars fell 8%. Entertainment fell 13%. Recovery and sauna also fell.

[Leading Indicators @leadinginds]

AI token prices have fallen 41% since their March peak, dropping from $1.15 to $0.68 per million tokens.

Businesses are shifting toward cheaper standard models, raising a crucial question for AI companies:

Can rising usage offset rapidly falling prices?

Source: https://t.co/dF3xxB8Y4X

[Sar Haribhakti @sarthakgh]

Are people in SF not putting post work happy hour drinks on company card??

(via @leadinginds)

[Leading Indicators @leadinginds]

If you were wondering whether SF is getting more social, the numbers say not yet.

Across 10 major US metros, San Francisco companies put the smallest share of their card spend on bars and entertainment.

Miami's put 2.2× as much.

[Leading Indicators @leadinginds]

Somewhere between “AGI is here” and “define AGI,” the adoption lead changed hands.

@AnthropicAI passed @OpenAI in paid adoption among US businesses for the first time in April. By July, Anthropic reached 43.5% adoption and OpenAI stood at 39.7%

Source: https://t.co/kclef6PEdt