OpenAI’s finance chief said that cutting the price of its Luna model by 80 percent produced ten times the usage, and that Luna now undercuts China’s GLM 5.3. Ramp’s corporate-card data shows the other side of the trade: the average price of a million tokens has fallen from $1.15 in March to $0.68, and AI spending per employee at the heaviest-using firms dropped almost 10 percent in August. Ramp’s conclusion is that the labs have not yet made up for the price cuts with extra volume. On OpenRouter, the share of traffic going to closed models has fallen from about 60 percent to a quarter this year.
