Anthropic breaks even on its two lower plans (Claude Pro and Claude Max 5x) at 20% utilization, while OpenAI starts losing money if utilization on its base plans (ChatGPT Plus and ChatGPT Pro 5x) exceed 11.4%. Things are much worse for the two companies’ top-end offerings, with Anthropic hitting 0% gross margin if utilization reaches 10%, while OpenAI is in the red if usage exceeds 5.7%. This is certainly unsustainable, but cutting features or raising subscription prices is likely off the table for these companies as well.
It’s not all bad news, though — as new models arrive and more data centers go online, the cost of serving existing models is bound to decrease, with SemiAnalysis predicting that serving Opus 4.8-level models at $20 a month could become profitable soon. On the other hand, frontier models, like Mythos, will still be much more expensive to run, so it’s likely that the latest, most advanced features could be reserved for API access only, meaning you’ll need to pay for it on a per-token basis.
Recently, we purchased one of each Anthropic/OpenAI subscription plan and randomly ran long horizon coding tasks until we exhausted the weekly limit. It's widely believed that a $200/month plan maxes out at ~$2000/month worth of tokens (assuming API pricing). However, we found… pic.twitter.com/1e0zFhbFuo June 10, 2026
As SemiAnalysis showed, subscription tiers are more affordable than API access. However, you’d still need the latter if you want to access the full capabilities of these AI models, and this is where budgets start breaking. Powerful agentic AI uses up to a thousand times more tokens than the average model, and big firms like Microsoft , Meta, and Amazon are backing off “tokenmaxxing” as costs spiral out of control . One unnamed company even blew through $500 million in one month after failing to impose a usage limit on its employee licenses.
Because of this, some firms have started using tools that switch these expensive frontier models for cheaper, more affordable ones, including Chinese open-source models like DeepSeek. A Wall Street Journal report says costs could be reduced by up to 95% by allowing agents to switch between AI models as needed. “You don’t need a model that knows quantum gravity,” Columbia University vice dean Vishal Misra told the publication. “These open-source models are very capable, and the ability to charge a big premium for AI is going to diminish.”
Talent over tokens: AI models are becoming more expensive to run, and productivity gains are limited
AI costs begin to bite as agents may increase token demand by 24 times, says Goldman Sachs report
OpenAI CEO Sam Altman admits AI token costs are becoming 'a huge issue.'
Key considerations
- Investor positioning can change fast
- Volatility remains possible near catalysts
- Macro rates and liquidity can dominate flows
Reference reading
- https://www.tomshardware.com/tech-industry/artificial-intelligence/SPONSORED_LINK_URL
- https://www.tomshardware.com/tech-industry/artificial-intelligence/ai-costs-spike-as-subscriptions-hit-pricing-wall-firms-turn-towards-chinese-llms-open-source-models-to-extend-budget#main
- https://www.tomshardware.com/subscription
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Informational only. No financial advice. Do your own research.