Vercel hits $600M annual revenue on the back of coding AI agents

Vercel is generating $600 million in annualized revenue, or $50 million a month, up 148% year over year and from $500 million in July. Coding AI agents now account for about half of Vercel's new business, up from less than 3% at the start of the year. The company is valued at $9.3 billion and has shifted mostly to usage-based pricing.

• Annualized revenue of $600M, up 148% year over year
• Coding AI agents drive about half of new business, up from under 3%
• Company valued at $9.3B, mostly usage-based pricing
• Paying customers grew by roughly 20%