Chinese AI Labs Beat OpenAI Spend on Vercel With 78.4% Open Model Share

AI31 days ago

Proprietary AI systems now account for only 21.6% of traffic on the Vercel AI Gateway. Combined inference spending for Chinese labs DeepSeek, Moonshot, and Z.ai has moved past the totals for OpenAI on the platform, reflecting a preference for cheaper, open-weight models. These open alternatives now drive 78.4% of the gateway's token volume, nearly doubling their share since June.

Corporate revenue remains concentrated in the U.S., with OpenAI and Anthropic posting estimated annual recurring revenues of $40 billion and $65 billion. Major Chinese AI developers combined generate roughly $10.7 billion, including $4 billion from ByteDance and $500 million from DeepSeek. Third-party providers including Together, Fireworks, and Baseten capture the inference spending for these open models by hosting them on their own infrastructure.

Mapped to your portfolio

Possible scenarios

38%Open Models Accelerate+0.3%
27%US Labs Counter+0.2%
20%Policy Backlash Builds-0.3%

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.

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Chinese AI Labs Beat OpenAI Spend on Vercel With 78.4% Open Model Share

In this story

Vercel DeepSeek Moonshot AI Zhipu AI OpenAI Anthropic ByteDance United States

Portfolio

SPY
State Street SPDR S&P 500 ETF Trust
100%

Portfolio

SPY
State Street SPDR S&P 500 ETF Trust
100%

Mapped to your portfolio

Possible scenarios

38%Open Models Accelerate+0.3%
27%US Labs Counter+0.2%
20%Policy Backlash Builds-0.3%

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.