Token Elasticity

Is AI use growing, is it getting cheaper, and how fast are people and businesses adopting it? Token volume and prices from OpenRouter; adoption from Microsoft, the US Census, Gallup and Pew.

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Token usage, price and spend

All three lines start at 100 so they share one axis. If volume rises faster than price falls, spend grows. Only traffic that goes through OpenRouter is counted, so read this as a signal of the direction things are moving.

Volume, price and spend (index, first week = 100, log scale)

Weekly tokens · average price per 1M tokens across tracked models · implied spend (volume × price)

Price elasticity of token demand

12-week rolling slope of Δln(tokens) on Δln(price). Below −1: price cuts grow total spend. Shows correlation, not cause.

Growth momentum

Week-over-week token growth (bars) and 4-week growth of the moving average (line), %

Average price vs same-model price

Average price reflects both price cuts and the shift to cheaper models. The same-model index keeps last week's model mix fixed, so it moves only with real price changes.

Token share by model maker

Share of weekly tokens, % — shifts here explain moves in the average price

Adoption

The solid line is the world: the share of working-age people who used generative AI. Dashed lines are US industries: the share of businesses that used AI in the last two weeks.

AI adoption: world (solid) vs US industries (dashed)

World: Microsoft AI Diffusion (% of people aged 15–64). US: Census BTOS (% of businesses using AI in last 2 weeks).

Adoption speed: US businesses

Current use vs expected use in 6 months, with a fitted S-curve projection (dotted)

AI user share by country

% of working-age population using generative AI (Microsoft AI Diffusion, via Our World in Data)

How actively do adopters use AI?

Having tried AI is not the same as using it every day. These survey series split users by how often they use it.

US workers: how often they use AI at work (Gallup)

% of US employees · daily · a few times a week or more · a few times a year or more

US adults using chatbots (Pew) and tokens per AI user

% of US adults who use chatbots, and the share who use them daily