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Companies are tightening their AI budgets and redirecting spending toward measurable return on investment, a structural shift that threatens to slow growth rates at OpenAI and Anthropic.
The pivot — from what insiders call "tokenmaxxing," the unconstrained consumption of AI tokens, to a discipline of efficiency — marks a maturation point in enterprise AI adoption with direct implications for the two companies most exposed to that spending.
The End of Tokenmaxxing The tokenmaxxing era was defined by experimentation: companies integrating AI broadly, accepting high inference costs as a feature of moving fast.
Budget holders are now asking what each deployment actually returns, and whether the volume of AI usage justifies the line item.
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