🤖 AI pricing meets capex math
OpenAI cut GPT-5.6 Luna by 80%, from $1 to $0.20 per 1 million input tokens. Anthropic launched Claude Opus 5 at half the price of its top model.
Across leading US models, prices are down almost 25% since mid-July. Chinese open models are forcing the move, with DeepSeek V4 Flash matching OpenAI's Luna on performance at half the cost per task.
Customers are already acting on it. DoorDash and Airbnb have switched to cut their AI bills.
The valuation issue is simple. AI companies are expected to eventually charge enough to cover what they are spending. Nvidia alone just arranged $500 billion in financing for AI infrastructure.
Prices falling 80% in a month do not support that math. OpenAI and Anthropic are planning IPOs at trillion-dollar valuations while cutting prices.
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🤖 AI pricing meets capex math OpenAI cut GPT-5.
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