Anthropic Leads Enterprise AI Spending with 73% Market Share, Mizuho Lists Stocks Worth Watching

Investing.com - According to client data cited by Mizuho TMT analyst Jordan Klein, Anthropic is rapidly becoming the preferred AI service provider for enterprises, accounting for over 73% of spending among companies making their first AI tool purchase.

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Klein, citing Axios, noted that just 10 weeks ago, the market share between Anthropic and OpenAI was evenly split at 50/50, and by early December 2025, OpenAI still led with a 60/40 ratio.

Mizuho stated that this shift is “extremely favorable” for Amazon, as most of Anthropic’s inference workloads run on Amazon.

Klein also pointed out potential beneficiaries, including Marvell Technology, Astera Labs, Fabrinet, and Credo Technology.

This trend reinforces Mizuho’s view that enterprise AI applications are “generating real value and return on investment as usage increases, showing an accelerating upward trend.” Klein emphasized Anthropic’s advantages in AI coding tools, calling them “a key advantage for AI usage and monetization.”

Mizuho said that inference demand is accelerating, which will “drive capital expenditure and investments by hyperscale cloud service providers through 2027/28.”

This includes building new intelligent agent systems and applications, such as OpenClaw. The company added that memory consumption will rise, and as applications scale up, power constraints could become a bottleneck.

Klein also stated that Microsoft, Oracle Financial Software, Nvidia, AMD, Micron Technology, Seagate Technology, and Western Digital will benefit from OpenAI’s strategic shift toward enterprise and coding sectors.

“This is a smart move and beneficial for key suppliers,” Klein wrote.

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