The Leaky Token Bucket · Jun 2025 → May 2026
Growing enormously. Losing badly. At the same time.
Annualised revenue against share of AI-coding spend and workplace adoption, over the same eleven months.
Cursor ARR · left axis · reported
Ramp · share of spend · right
JetBrains · adoption · right
Claude Code · adoption · right
Revenue up 6×. The slice shrank by a third.
BOARDROOM WIRE
@BoardroomWire
R replay · F final · ?t=cross+0.4