Tokenmaxxing may be ending: Anthropic's S-1 shows ~80% of revenue billed per token
HarperSCarroll · x · 2026-10-31
Harper Carroll argues the era of "tokenmaxxing" may be winding down. Token-heavy agentic loops remain the dominant coding paradigm, but token minimization is entering the conversation. Evidence: Anthropic's recent S-1 filing shows about 80% of revenue is billed per token (API developers plus employees using Claude apps) rather than flat subscriptions, making token consumption central to the business model. Reposter Ray Fernando is bullish on Nemotron and other small models as a counterweight.
Related event: Commentary: the era of tokenmaxxing may be coming to an end(2 posts)→
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