Vercel reports falling token prices as AI Gateway spending rises

Vercel's October production index shows September spending through its AI Gateway increased 1,180% from December while the average price per token fell 47%. Open-weight models processed more than seven in ten tokens, and their share of spending more than quadrupled from June. Almost one in three qualifying teams changed their most-used model provider in September, an index record. The switching measure covers paid teams with at least 10 million paid tokens in both months. Spending estimates use published list prices rather than actual bills, and the report uses a broader definition of open-weight models than earlier editions.