China is gaining ground in the global AI industry’s hottest commodity: tokens.
Since February, Chinese AI models made by groups such as DeepSeek and MiniMax have overtaken US rivals in token consumption, according to OpenRouter data, which tracks these units of text, code or data processed by large language models.
The shift points to a deeper change in the AI race, with Nvidia’s Jensen Huang saying this month that the production and use of the digital units will drive the AI economy. Because developers are charged per token, it doubles as both a proxy for adoption of models and a pricing battleground between AI companies.
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