Economics Of AI

Explore AI Themes Across The Five-Layer Stack

8 Themes
48 Charts

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All Themes

Explore unbiased, data-driven AI themes across the five-layer stack: applications, models, infrastructure, chips, and energy.

ChatGPT Leads AI Apps In MAUs

In April 2026, OpenAI's ChatGPT app had 482.94 million monthly active users. It led AI apps in MAUs – social apps (shown for context) still set the scale.

7 Charts

Models


Claude MAUs Trail ChatGPT

In April 2026, Anthropic's Claude app had 11.31 million monthly active users. OpenAI's ChatGPT led AI apps in MAUs – social apps provide scale context.

7 Charts

Models


Hyperscalers RPE Ranked

Based on the last-twelve-months revenue, the five hyperscalers generated $787,000 per employee on average. Meta led at $2.76M per employee.

7 Charts

Infrastructure


Z.ai Revenue Mix

Z.ai hit ¥724.33M in revenue in 2025 – up 132% YoY. Open Platform & API was the fastest-growing segment hitting ¥190.38M in revenue – up 293% YoY.

5 Charts

Models


MiniMax Alibaba Cloud Spend

MiniMax spent $75.88M on Alibaba Cloud in 2025 – up 7x from 2024. Its cap under the Alibaba Cloud Services agreement rises to $135M in 2028.

5 Charts

Models


Premium AI Still Gets Used

American models in OpenRouter's top ten averaged $9.20 per million output tokens. Despite their premium, five of the most-used models were American.

5 Charts

Models


Price Shapes AI Token Usage

Chinese models in OpenRouter's top ten averaged $1.34 per million output tokens. American models averaged $9.20 – nearly seven times more.

5 Charts

Models


Where America Researches AI

The top ten institutions for AI research in America include universities, agencies, and corporations. Not one Ivy League school makes the list.

5 Charts

Other