{"data":{"slug":"ai-economics","etype":"concept","name":"The Economics of AI","cat":"Economics & Society","subtitle":"Trillion-dollar capex against fast-falling token prices.","summary":"The industry's core tension: infrastructure spending measured in hundreds of billions per year, against inference prices that fall roughly tenfold per capability tier per year and open models pressing margins from below. Bulls point to genuine revenue curves (OpenAI and Anthropic reached multi-billion run-rates at record speed) and productivity gains; bears to depreciation schedules on GPUs and circular vendor-financing deals. Every stock on the Stocks page is a position in this argument.","attrs":null,"kf":null,"aliases":["AI capex","token economics","unit economics"],"ticker":null,"exchange":null,"hq":null,"founded":null,"website":null,"status":null,"region":null,"asof":"2026-01-15","sources":[{"url":"https://epoch.ai/data","label":"Epoch AI — data on AI economics"},{"url":"/trends","label":"Sourced figures on this site's Trends page"}]},"meta":{"found":true,"count":1,"served_from":"site cache (no live upstream calls)","as_of":"2026-10-14T06:53:28+00:00","disclaimer":"Research and information only — not investment advice. Structured records carry basis labels (vendor spec / reported / estimate); market quotes are delayed/indicative.","attribution":"Records compiled from vendor documentation, official filings and reputable public reporting; market quotes via financial data providers. See /data-sources."}}