01 · orientation
The short version
What are the four findings that change a cost decision?
Open this sectionAddressable source sections
The report, in 10 sections.
Each section is the exact source material from the report — not a summary of it — at a URL you can link to and quote from. No summary substitutes for the section it points at.
10 extracted sections
Together they partition every substantive section of the report exactly once. The report's own headings are the boundaries; nothing is invented here and nothing is left out.
The short version
The four findings that change a cost decision before any per-model comparison starts.
What the evidence establishes
The verified claims behind the headline numbers, notebook by notebook, with their corroboration.
02 · evidence
Inference economics — five verified claims
What does a token actually cost, and how far does effective cost diverge from the posted price?
Open this section03 · evidence
GPU ownership — three verified claims and a crossover model
When does owning GPUs beat renting them, and what sets the threshold?
Open this sectionWhat this means for decisions
The same evidence, arranged by the decision it is supposed to inform.
04 · decision
If you build with AI APIs
Which model, provider, and pricing structure should this workload commit to?
Open this section05 · decision
If you run ML infrastructure
Rent, reserve, or own — at what utilization and under whose procurement scope?
Open this section06 · decision
If you budget AI spend
What envelope should the next budget cycle assume, and what would break it?
Open this section07 · forecast
The 24-month horizon — six dated bets
Where do costs head, and which dated bets would falsify that?
Open this section08 · decision
The routing layer itself — thin fees, thin moats
Is a routing layer worth its take rate, and is it a business or a feature?
Open this section09 · decision
If you're evaluating fine-tuning vs retrieval
When does the narrow model win, and by how much?
Open this sectionEvidence boundaries
What this evidence does not establish, and the conditions that reopen each answer.
10 · boundary
Evidence boundaries
What does this evidence not establish?
Open this section