Hi all,

Here’s our Monday roundup of data signals across AI, energy & markets.

Enjoy!

The state of the AI Economy – the latest by Exponential View

Every week, we will share the latest updates on the state of the AI economy based on our own latest research and tracking.

Since our report in June, revenues have continued to grow, with this July sitting three times higher year-over-year. The annualized run-rate is now over $210 billion.

1. The frontier races ahead. The top 10% of companies using OpenAI’s products use 8.3x more tokens than the typical firm.

   

2. Reaching the ceiling. Fable 5 token usage at businesses has been flat, making up only 6% of all their tokens (11% of spend) — businesses appear to have reached their limit on willingness to spend for the best model.

   

3. Agentic AI needs CPUs. BofA expects the server CPU market to grow from $61 billion in 2026 to $211 billion in 2030, a 36% compound annual growth rate, as agentic workflows shift the ratio of CPUs to GPUs towards parity.