Peter Berezin: Ramp AI reports rising token volumes but stagnating token spending

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Mikhail Vnuchkov

14.10.2026

Peter Berezin: Ramp AI reports rising token volumes but stagnating token spending — Ramp AI sees flat token spending

Token volumes continue to increase but spending on tokens is stagnating due to declining token prices, according to Ramp AI.

Peter Berezin highlighted these findings in a recent post.

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Berezin has previously highlighted that Nvidia’s profit gains are supported by accounting for GPU purchases as capital spending. He also observed that earnings estimates outside of technology and energy sectors have remained flat this year. These observations provide additional context to Ramp AI’s analysis of token volumes and spending.

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