Enterprise spending on large-language-model application programming interfaces more than doubled to $8.4 billion in the first half of 2025, according to a mid-year survey of 150 corporate technology leaders by venture firm Menlo Ventures. The report shows Anthropic capturing 32% of enterprise usage, overtaking OpenAI, which now holds 25% after commanding half the market two years ago. Google’s Gemini models are third with 20%. Anthropic’s surge is tied to its Claude 3.5 and 3.7 Sonnet releases and to exploding demand for code generation, where the company controls 42% of workloads—twice OpenAI’s share. Enterprises continue to favor closed, proprietary models; only 13% of daily workloads use open-source alternatives, down from 19% six months ago, the survey found. Riding that wave of enterprise adoption, generative-infrastructure provider FAL closed a $125 million Series C round at a $1.5 billion valuation led by Meritech Capital, with existing backers such as Andreessen Horowitz re-upping. Co-founder Gorkem Yurtseven said the company ended July at roughly a $95 million annual revenue run rate, up from “a couple million” a year earlier. FAL’s Generative Media Cloud is used by more than two million developers and over 300 enterprises to create billions of AI-generated assets each month. The company plans to use the new capital to expand capacity for real-time inference—an area Menlo Ventures says now accounts for the majority of compute spend among both startups and large corporations.