J.P. Morgan报告显示，中国AI模型每token比美国便宜50倍，Qwen、DeepSeek、Kimi施压OpenAI和Anthropic定价。到2026年4月，中国公司在OpenRouter流量占比将从不足2%升至超45%。报告还指出企业AI token将商品化，多数任务无需前沿模型；AI已驱动标普500回报的65%-80%；NVIDIA仍主导AI加速器，但定制芯片可降总成本30%-40%；中国GPU自给率提升。UBS调查发现，60%监控AI预算的企业已转向更便宜模型，通过模型路由将简单任务分流至Qwen、DeepSeek、MiniMax等开源模型，以应对最高$35K/月账单及团队超配额200%的压力。
🇨🇳🇺🇸Chinese AI models are up to 50 times cheaper than their American counterparts on a per-token basis.
Especially Qwen, DeepSeek and Kimi, which pressures OpenAI and Anthropic pricing.
- From J.P. Morgan report titled "Semiquincententacles: the US grip on global markets at 250" found that
The report said Chinese firms accounted for over 45% of all traffic on the AI aggregation platform OpenRouter by April 2026, up from under 2%in late 2024.
Some other findings from the report.
- Enterprise AI tokens may become commoditized, because many business tasks do not need frontier models and can run on smaller open models.
- AI has driven 65%-80% of S&P 500 returns, profits and capex since ChatGPT, creating clear signs of investor overexcitement in semiconductors.
- NVIDIA still dominates AI accelerators, but custom chips from Google, Amazon, Microsoft and Meta are gaining because they can cut total cost by 30%-40%.
- China is catching up in AI, with better models, rising GPU self-sufficiency and possible chip-scaling workarounds despite export controls.
- Taiwan is the US AI system’s weak point, because TSMC supports much of the world’s advanced chip supply while Taiwan is highly exposed to energy and food blockades.
UBS says 60% of companies now watching AI budgets are moving to cheaper models and open-source Chinese models The pressure is coming from extreme bills, including users spending up to $35K/month, teams exceeding quotas by 200%, and companies cutting internal AI tools from 5 to 2. Companies are not abandoning AI, they are using model routing, which sends easy tasks to cheaper models and saves premium models for hard reasoning, code, and long-context work. Chinese open-source models such as Qwen, DeepSeek, MiniMax, GLM, and Kimi now fit the enterprise cost curve because they can be run locally or used through cloud catalogs. --- news .futunn.com/en/post/75068082/ubs-group-finds-60-have-already-started-curbing-ai-spending?level=2&data_ticket=1780870170397383在 X 查看被引用的帖子
来源：Rohan Paul · x.com