Deepseek led Ramp's fastest-growing software vendors in June 2026. The category tracks breakout growth relative to size.
Ramp chief economist Ara Kharazian says US companies are paying Deepseek directly and sending data through its platform, so this isn't about the benefits of self-hosted open-source usage. Kharazian warns about security and competitive risks of using Chinese models directly and doubts the trend will last.
Deepseek launched Deepseek V4 at the end of April. It doesn't match the best Western models in total performance but costs a fraction of the price. The performance gap certainly is far smaller than the price gap.
Ramp's top software vendors for June 2026: Deepseek leads the trending category, Anthropic tops fastest-growing. | Image: Ramp
Deepseek had a brief hype cycle in January 2025, hitting 0.3 percent adoption among US companies per the Ramp AI Index, then quickly falling to 0.1 percent. The data covers real transactions from over 50,000 companies.