Enterprise AI spending pivots from APIs to custom agent building

Prime Intellect, founded in 2024, has reached $100 million annualized revenue by providing enterprises compute access, reinforcement-learning frameworks, and evaluation tooling to build task-specific AI agents. The company raised $130 million at a $1 billion valuation on 8 July 2026, with backing from Nvidia Ventures, Intel Capital, and Dell Technologies Capital. Customer Ramp built an agent that queries spreadsheets faster, cheaper, and more accurately than frontier models—suggesting a genuine shift in how enterprises allocate AI budgets.