AI’s Token Economy Revolution Creates New China Tech Winners

China’s cheap artificial intelligence models are rapidly attracting global users and creating new winners in the nation’s stock market.

As AI development increasingly focuses on performing a diverse array of tasks, an economy is emerging around demand for “tokens,” the basic units of data in large language models. Surging token consumption globally has given China a distinct advantage thanks to its abundant supply of low-cost electricity and a legion of competing AI model developers.