AI stocks sank for five weeks while usage exploded: Anthropic run-rate hits $81B
demian_ai · x · 2026-11-13
The author pushes back on the "AI trade is dead" panic with data:
- On Oct 6, 114 of 149 AI bottleneck stocks tracked were above their 200-day average; a month later only 8 were. The chip index had its worst day since March 2020.
- Yet usage kept climbing: Anthropic's run-rate went from $71B to $81B in October alone; OpenRouter served 37% more tokens than September; Google now processes 32B tokens per minute, 4x a year ago.
- Charts show all 16 AI bottleneck baskets sold off but all except Rare Earths still beat the S&P 500 YTD, with the whole book up +56% (peak +128%).
Core argument: even if model capabilities froze today and prices kept falling, usage growth alone sustains the demand story — the selloff is decoupled from actual adoption.
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