AI data

Economics

Token, API, model, training, and compute pricing across the AI stack.

Model Pricing

Historical Frontier Model Pricing (Closed Weights)

Historical Frontier Model Pricing (Closed Weights)

  • GPT-5.5 output
  • Claude 4.5 output
  • Gemini 3 output
Historical Frontier Model Pricing (Closed Weights)Demo preview through July 2026 (USD per 1M tokens).$80$60$40$20$0Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26GPT-5.5 output: $23.2 on Jul '26. Claude 4.5 output: $30.9 on Jul '26. Gemini 3 output: $15.5 on Jul '26
SOURCE: The LatentUPDATED: Jul 1, 2026

Historical Frontier Model Pricing (Open Weights)

Historical Frontier Model Pricing (Open Weights)

  • Llama 4 405B
  • DeepSeek V4
  • Qwen3-Max
Historical Frontier Model Pricing (Open Weights)Demo preview through July 2026 (USD per 1M tokens).$10$7.5$5$2.5$0Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Llama 4 405B: $4.4 on Jul '26. DeepSeek V4: $2.2 on Jul '26. Qwen3-Max: $2.9 on Jul '26
SOURCE: The LatentUPDATED: Jul 1, 2026

Historical API Pricing

Historical API Pricing

  • OpenAI
  • Anthropic
  • Google
  • Mistral
Historical API PricingDemo preview through July 2026 (USD per 1M tokens).$30$20$10$0Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26OpenAI: $12 on Jul '26. Anthropic: $14 on Jul '26. Google: $9 on Jul '26. Mistral: $6 on Jul '26
SOURCE: The LatentUPDATED: Jul 1, 2026

Output Price per Million Tokens Across Frontier Models

Output Price per Million Tokens Across Frontier Models

  • GPT-5.5
  • Claude 4.5
  • Gemini 3
  • Grok 4
Output Price per Million Tokens Across Frontier ModelsDemo preview through July 2026 (USD per 1M output tokens).$80$60$40$20$0Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26GPT-5.5: $25.1 on Jul '26. Claude 4.5: $34.5 on Jul '26. Gemini 3: $18.9 on Jul '26. Grok 4: $21 on Jul '26
SOURCE: The LatentUPDATED: Jul 1, 2026

Infrastructure Cost

Historical Compute Cost

Historical Compute Cost

  • H100 on-demand
  • H100 reserved
  • B200 on-demand
Historical Compute CostDemo preview through July 2026 (USD per accelerator-hour).$6$4$2$0Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26H100 on-demand: $2.1 on Jul '26. H100 reserved: $1.3 on Jul '26. B200 on-demand: $3.5 on Jul '26
SOURCE: The LatentUPDATED: Jul 1, 2026

Estimated Frontier Model Training Costs

Estimated Frontier Model Training Costs

  • Frontier maximum
  • Frontier median
Estimated Frontier Model Training CostsDemo preview through July 2026 (USD millions).$3K$2K$1K$0Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Frontier maximum: $2.5K on Jul '26. Frontier median: $765.9 on Jul '26
SOURCE: The LatentUPDATED: Jul 1, 2026