OpenRouter token use up 25,000% — but is it real?

OpenRouter's data shows a dramatic rise in token consumption, but this trend is tied to how modern AI models operate. Reasoning models, which generate extensive 'thinking' tokens before answering, can inflate counts without a proportional increase in user activity. Similarly, unoptimized agentic systems may consume tokens inefficiently, further skewing the numbers.

The article notes that OpenAI's GPT 5.6 Luna recently dominated token consumption, but this may simply mean it generates more tokens per prompt, not that more people are using it. Meanwhile, Chinese models like Kimi, GLM, and DeepSeek are growing rapidly in spending, albeit from a smaller base.

The key takeaway is that token metrics alone may not reliably indicate AI adoption or business value. The real test is whether these consumption trends translate into tangible outcomes, which remains uncertain as the industry continues to evolve.