On August 24, Beijing time, according to the Financial Times, Anthropic's U.S. clients are shifting towards lower-cost alternatives to its most powerful AI tool, Fable 5, raising questions about its high-investment business model. Data from payment group Ramp shows that over two months after Fable 5's release, corporate spending accounted for only about 11% of total spending on Anthropic's tools, with a trend towards stabilization, breaking the trend of enterprise users defaulting to the most powerful models. Analysts say this shift is primarily due to Fable's high cost, as older models already meet most business needs. If this trend continues, it could fundamentally alter the business models of leading AI labs. Currently, Anthropic is preparing for an initial public offering (IPO), which is expected to be one of the largest listings in history, with investors projecting a valuation of $2 trillion or more, potentially happening as early as next month.