The margin on a subscription plan is a function of the average utilization. If we assume both companies have 75% API gro…

SemiAnalysis Twitter · SemiAnalysis (@SemiAnalysis_) · 2026-06-10

SemiAnalysis presents a quantitative framework showing that AI subscription plan profitability is a function of average user utilization, and derives margin figures for Anthropic and OpenAI assuming 75% API gross margins.

Open original ↗

Appears in

SemiAnalysis: AI Subscriptions Are 40–70x Cheaper Than API for Heavy Users; OpenAI Eyes Deep Price Cuts

Extraction

Topics: ai-subscription-pricingai-economicsanthropicopenai

Claims

The profit margin of an AI subscription plan is primarily determined by the average utilization rate across the subscriber base.
Assuming 75% API gross margins for both Anthropic and OpenAI, specific subscription margin figures can be derived from observed utilization data.

Key quotes

The margin on a subscription plan is a function of the average utilization. If we assume both companies have 75% API gross margins, this results in the following subscription margins.