116 Trillion Tokens a Week, Yet Revenue Share Falls

OpenRouter data for 2–8 November, reported on 15 November, put Chinese models at 116.18 trillion tokens for the week, up 16.71% and the 28th consecutive week ahead of US models, which fell 32.4% to 13.98 trillion. Menlo Ventures’ 2026 enterprise AI report supplies the awkward half: open-weight models now carry 19% of enterprise token volume, up from 11%, but only 4% of enterprise spend, down from 6%, even as 89% of US enterprise open-source spend goes to Chinese models — Kimi at 61%, DeepSeek at 15%, GLM at 11%, Qwen at 3%. Average open-source token price fell from $0.45 to $0.13 per million.