AI Token Costs: Will Valuations Drive Prices Up? #shorts

3 Jul 2026 · 1 min

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Charles Cormier and a co-host debate whether AI companies' sky-high valuations will push token prices up. Anthropic is valued at $1 trillion, yet at least one major AI firm reports negative gross margins exceeding 100 percent, meaning token sales lose money. The question: can these companies ever charge enough to break even?

I can't see the cost of tokens going up if Anthropic is being valued at $1 trillion in the public markets.
Who's to say they would? But if they're subsidizing the cost of tokens and they have to start actually, I mean, is it OpenAI or Anthropic that has 100+ percent negative gross margins? I mean, that must be OpenAI.
That must be OpenAI. Yeah.
Yeah. It's like, this is problematic. And so at some point, capital becomes discerning. When capital becomes discerning, you have an issue and you have to push pricing up. And then people have to say, is this what they really want? And again, we're not there. Everyone knows however good it is today, it's going to get better. But they don't know however good it is today, it's going to get cheaper. What I don't know for Anthropic and for OpenAI is if they can get their economics in place where they can sell the volume of tokens they want to sell? At the moment, they are supply constrained, not demand constrained. Can they sell the volume of tokens at the price they need to sell them at in order to generate the cash flows to justify their valuation? And that I don't know.