Ramp

Harvey, Abridge, Ramp, Rogo, and other AI startups are embracing open-weight models or training their own models to reduce expensive reliance on frontier labs

The $15.6 billion legal startup Harvey built its business around training AI models like OpenAI's GPT-4 to do specialized work for lawyers.

Some startups, like Harvey, Abridge, Ramp, and Rogo, are embracing open-weight models or training their own models to reduce expensive reliance on frontier labs

Sources: Ramp is in early talks to raise ~$1B at a ~$60B valuation, up from $750M at a $44B valuation in June; founded in 2019, Ramp has raised $3B to date

Ramp is in early talks with investors for a new round of funding at a roughly $60 billion valuation, according to people familiar with the efforts …

Sources: Ramp is in early talks to raise ~$1B at a ~$60B valuation, up from $750M at a $44B valuation in June; founded in 2019, Ramp has raised $3B to date

Ramp's July AI index: Anthropic's market share hit 43.5%, widening its lead over OpenAI; Fable 5 is only 6% of tokens businesses bought, likely due to high cost

Ramp's July AI index: Anthropic's market share hit 43.5%, widening its lead over OpenAI; Fable 5 is only 6% of tokens businesses bought, likely due to high cost

Dear Colleagues: Today's letter includes my monthly update of Ramp AI Index, our flagship research using spend data from Ramp to track how American businesses are using AI.

Investor docs: Anthropic's revenue run rate is on track to hit $50B by the end of June; Ramp says more of its customers now use Anthropic than OpenAI, a first

Investor docs: Anthropic's revenue run rate is on track to hit $50B by the end of June; Ramp says more of its customers now use Anthropic than OpenAI, a first

Kate Clark /Wall Street Journal:

Sources: Ramp has told investors it is raising $750M co-led by Iconiq Capital and GIC at a $40B+ valuation before the investment, up from $32B in November 2025

Sources: Ramp told investors it is raising $750M co-led by Iconiq Capital and GIC at a valuation of $40B+ before the investment, up from $32B in November 2025

The financing target represents a more than 30% increase from six months ago  —  The corporate card and expense management startup Ramp …