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
Making Sense Of AI
Explore AI Themes Across The Five-Layer Stack
7 Themes
38 Charts
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All Themes
Explore unbiased, data-driven AI themes across the five-layer stack: applications, models, infrastructure, chips, and energy.
Meet Compute
OpenAI's compute spend increased by $10.2B, or 176%, in 2025. Over the same period, annualized revenue increased by $15.9B, or 289%.
5 Charts
•Models
When Revenue Met Compute
Anthropic's compute spend increased by $4.3B, or 172%, in 2025. Over the same period, annualized revenue increased by $8B, or 800%.
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.
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•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.
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•Models
Hyperscalers Outspend Apollo
Since ChatGPT launched in 2022, hyperscaler capital expenditure as a share of US GDP has more than doubled. At 1.46%, it eclipses the Apollo Program.
5 Charts
•Infrastructure
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.
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•Other