Anthropic and OpenAI appear to have found product-market fit with their AI coding agents, with Anthropic reportedly approaching its first profitable quarter. Both companies shifted from seat-based pricing to API token pricing in April 2026, locking enterprise customers into year-long deals at the new rates and signaling a fundamental change in their business models.

The value proposition is clear: one developer using Claude Code and OpenAI Codex consumed $2,180 worth of tokens for just $200 in subscription fees. Enterprise plans now cost $20/seat/month plus API pricing, reflecting how these tools have become daily drivers for well-compensated professionals who are willing to pay for significant productivity gains.

The pricing shift coincides with new frontier model releases and significant enterprise-focused hiring at both companies. Stories about AI cost failures appear overblown, suggesting these companies have finally developed products that justify their pricing through tangible productivity gains for developers.