Fable 5 Slow Adoption Signals AI Spending Ceiling

Anthropic's Fable 5, priced at $10 per million input tokens and $50 per million output tokens, captured only 6% of Anthropic's tokens and 11.4% of spending in its first month. Ramp data shows it generated 75% of GPT-5.6 Sol's revenue, indicating a plateau in willingness to pay for premium AI.