Explore AI Themes Across The Five-Layer Stack

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%.

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.

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.

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.

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.