NEA’s Tiffany Luck says enterprises are still figuring out their AI ROI

The article says Silicon Valley’s early-year push to maximize AI usage, dubbed tokenmaxxing, has run into budget pressure. Examples include Uber reportedly burning through its annual AI budget in months, some companies reducing Claude licenses, and Meta ending an internal AI usage leaderboard.

The shift suggests enterprises are moving from experimentation toward AI cost discipline, with usage alone no longer treated as proof of value. Vendors may face more scrutiny as buyers demand clearer ROI, governance tools, and pricing models that align AI spending with business outcomes.