DeepSeek overtakes Google on volume, cost per token falls 13.6%

In July 2026, DeepSeek surpassed Google to become the second-largest AI lab by token volume on AI Gateway, while the average cost per token dropped 13.6% despite a 37% increase in spending. Moonshot's Kimi K3 agent model saw rapid adoption, contributing to significant growth in open-weight model usage and spending.