Inference Economics / Token Margins
The unit economics that decide who profits
Layers as clusters, money as arcs, brand marks on the biggest stars
AI Intelligence Graph
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Follows the graph · 1 entity
Full file coming soon. Inference Economics / Token Margins's links, deals and figures below are what the graph holds today.Not collected yet: 360, Money, Investors, Market share, People and hiring, Legal, News and events, Earnings calls. Anthropic is the first complete company file (people, investors, legal, hiring, birth to now); other companies follow one at a time. Open Anthropic's file
Overview
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L1 Cloud · Standard / protocol · chokepoint
Inference Economics / Token Margins
The unit economics that decide who profits
- Links
- 1
- Deals from filings
- 0
- Exposed if it fails
- 1
- 14 within 2 steps
- It depends on
- 0
- 0 within 2 steps
No company file yet: revenue, customers and other figures appear here once they are taken from its filings.
What it is
The shift from one-time training cost to recurring per-token inference cost is the central economic fact of the industry: reasoning models multiply tokens per query, and gross margin on inference determines whether labs, clouds, or apps capture value. Price wars (DeepSeek's disruption) collapsed token prices ~10x in 2024-25, threatening frontier-lab margins.
Key facts
from its map entry- Trend
- Token price collapse ~10x
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Connections1 link
Pulled 28 Oct 2026 · AI Systems Map links
Who depends on it
1Compare two: what Inference Economics / Token Margins shares with another entity
Pick a second entity to see their direct links, the suppliers, backers, rivals and regulators they share, and the deals with the same parties. The graph lights the same set.
Data sources1 source
| Source | Feeds | Data dated | Pulled | Pulled again | Status |
|---|---|---|---|---|---|
| AI Systems Map links1 links; built July 2026, deals re-checked against filings 27 to 28 Oct 2026 | Connections | · | 28 Oct 2026 | when the map is reviewed | hand-built; deals checked against filings |
Times are New York time. Free sources are pulled on the schedule shown by the pipeline runner (data/corpus/run_pipelines.py), which logs every run; paid sources run only with the owner's yes; filings and newsroom pages are re-read when a new document is filed.
Links come from the AI Systems Map ontology. Deals carry the filing's own wording and a quote, checked against the document; latest source 2026-10-26. Not investment advice.