When you are in the tech or AI bubble you surely heard about the big acquisitions announcement of payment infrastructure provider stripe acquiring the AI routing provider openrouter. When you are not part of this bubble the new is new and you probably also won’t ever heard of openrouter. So what makes this company special that stripe put 7 billion dollar on the table to acquire them: openrouter is currently the biggest AI gateway and router provider in the world. There service is routing request to AI models trough their infrastructure and optimize for speed, price or quality. So you don’t need your ChatGPT or Claude subscription any more, you buy credit there and can choose from hundreds of different AI models based on your needs.
So it is basically when using old economy terms a marketplace for AI tokens. Tokens is the unit in which AI compute is measured and the key underlying economic relevant unit when speaking about AI usage etc. Some say tokens are the new oil or tokens are the currency of the AI boom. So with this all be true, there is an economic effect that is all over the world and fueled our wealth gain through the process of globalization: arbitrage.
Arbitrage means buying an asset in one market and immediately selling it in another market at a higher price to make a risk-free profit
AI token arbitrage is something that is not very often spoken about already BUT it exists. In a field where I am active with faktry, there is immense competition that is fought out via extrem price dumping strategies. Competitors offer free of charge access to frontier video models that would cost them normally thousands of compute to run. Of course they are burning VC money and try to buy in user into their subscriptions, BUT there is also arbitrage happening when they buy their compute in cheap cloud regions and sell the access to it in a different country. So here is the classic form of arbitrage happening: buying the the tokens cheaper, than I sell it.
That’s the basic law of economy and like every profit orientated business should operate exactly like this, you would think, and you are 100% right. But what I fear and what recent deals or new launches I observe make me skeptical about, is that there is a secondary layer of token reselling infrastructure and companies building up that could harm the AI boom and wealth efffect for everyone. When financial institution launch their own AI gateways/routers like Ramp did with router.com this just signals me that old money is using AI tokens as investment leverage that has no foreseeable outcomes for consumer prices. Token or compute could be concentrated, which means prices go up or this secondary layer sits just artificially in between compute provider and consumer taking their arbitrage out of the value stream and increase prices as well for them.
OpenAI was founded to make AI accessible to basically everyone. This is a very noble vision, but just with creating the models and provide access to it won’t stop opportunistic stakeholder to make use of AI token arbitrage on scale and put the most likely to happen wealth gain for people through AI at risk.
























































