1/ China Challenge: Believe It or Not*
Taking the Lead in Token Consumption
2/ Measured by token consumption, which is the most popular AI model in the world?
3/ Answer: China’s MiniMax M2.5.
4/ Bonus: of the top 4 models by token consumption, how many were Chinese? How many were American?
5/ Answer: 3 are Chinese (MiniMax, Deepseek, and Step). 1 is American (Gemini).
6/ As the Financial Times (@FT) reported this week, “cheaper energy and more efficient models” permit Chinese companies to charge about $3 per million output tokens. Anthropic charges five times more—$15 per million output tokens.
]ft.com/content/256787…
7/ The result is that developers are using cheaper Chinese models for most of their work, reserving complicated tasks for more expensive and capable American models.
8/ *As part of an effort to improve our understanding of China, I will continue to offer another “Believe It or Not” about China each week. Readers are invited to send along candidates for the list.
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