OpenAI’s ChatGPT remains the dominant generative AI platform, but rivals Alphabet Inc.’s (NASDAQ:GOOGL) Google Gemini and Anthropic’s Claude continued to gain market share in May, according to a new BNP Paribas research report released Monday.

Jones Says Gemini And Claude Gained Share

Analyst Nick Jones said BNP Paribas’ AI tracker showed Gemini’s share of visits rose to 29.9% from 29.4% in April, while its average monthly daily active user share increased to 18.9% from 17.9%.

He said Claude also gained share, with visits rising to 9.8% from 8.8% and average monthly daily active user share increasing to 2.9% from 2.5%. Jones said ChatGPT remained dominant but continued to lose share during the month.

Jones Sees AI Demand Supporting Compute Spending

Jones said Alphabet’s agreement with SpaceX to secure 200 megawatts of compute capacity for about $920 million per month may raise near-term capital intensity concerns.

However, he viewed the investment as strategically prudent because of strong cloud backlog growth, accelerating AI adoption, and long-term revenue opportunities across Search, Cloud, and AI-driven products.

Jones said the structure and economics of the SpaceX agreement could also make it more likely that Meta Platforms Inc. (NASDAQ:META) accelerates plans to commercialize its infrastructure through a cloud offering.

AI Adoption Still Looks Enterprise-Friendly

Jones said Claude generated about 80% of the code merged into Anthropic’s product codebase in May, showing AI models can meaningfully improve developer productivity and support higher enterprise AI spending over time.

He also cited Apollo’s chief economist, who said he saw no evidence of AI-related job losses to date. Jones said that supports the view that AI is currently augmenting worker productivity rather than causing broad labor displacement.

Jones said SpaceX’s plans to deploy orbital AI compute satellites as early as 2028, with a long-term goal of launching up to 100 gigawatts of compute capacity into orbit annually, underscore the scale of expected AI compute demand and the industry’s willingness to explore alternative infrastructure.

GOOGL Price Action: Alphabet shares were down 0.16% at $362.74 at the time of publication on Tuesday, according to Benzinga Pro data.

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