Anthropic's strongest, priciest model has been live for more than two months — and enterprise customers aren't exactly stampeding to adopt it. Spending data from Ramp shows Fable 5 accounts for just 6% of Anthropic's token usage, and only 11.4% of its spending.
The most obvious culprit is the price. Fable 5 API pricing runs $10 per million input tokens and $50 per million output tokens — twice the cost of Opus 5. Anthropic itself positions Opus 5 as "frontier intelligence close to Fable 5, at half the price."
Enterprises are voting with their wallets. Opus 5 only launched at the end of July, yet it's already overtaken Fable 5 in enterprise spending. In another set of Ramp data, Fable 5 makes up just 6% of Anthropic's tokens. For comparison, GPT-5.6 Sol has already captured 25% of OpenAI's enterprise tokens.
Historically, enterprises chased the newest, most powerful model the moment it surfaced. This time, there's a clear reversal. Miles Clements, a partner at Accel, says most people simply don't need to constantly run the most frontier models. If capabilities keep growing — but prices double along with them — enterprises may decide they're not buying.
Via Financial Times