The cost of running a top-tier AI query dropped 280-fold in roughly 18 months — from $20 per million tokens in late 2022 to seven cents by late 2024, a price collapse with no real parallel in the history of computing
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The most important AI chart for startups may not be the one showing larger models, higher benchmark scores or billion-dollar training runs. It may be the one showing something quieter: the price of asking a capable model a question has collapsed.
Stanford’s 2025 AI Index Report, working with data from Epoch AI and Artificial Analysis, estimates that the cost of querying an AI model at roughly GPT-3.5-level performance on MMLU fell from $20 per million tokens in November 2022 to just $0.07
Stanford’s 2025 AI Index Report, working with data from Epoch AI and Artificial Analysis, estimates that the cost of querying an AI model at roughly GPT-3.5-level performance on MMLU fell from $20 per million tokens in November 2022 to just $0.07
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