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Our SemiAnalysis Weekly Podcast often asks - Is the AI cycle this time truly different from other cycles? Well, at least…

SemiAnalysis Twitter · SemiAnalysis (@SemiAnalysis_) · 2026-05-18

SemiAnalysis concludes from internal token spend tracking that current AI adoption is a genuine structural economic shift, not a repeating hype cycle.

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Topics: ai-industry-trendsai-demandai-economicstechnology-cycles

Claims

  • SemiAnalysis tracked token spend internally to evaluate whether AI returns are real.
  • The measured returns from AI are real and not illusory.
  • Current AI adoption constitutes a structural trend, distinguishable from previous technology hype cycles.

Key quotes

Is the AI cycle this time truly different from other cycles?
we think the return from AI is real and it looks like a structural trend that is truly different from other cycles
We tracked token spend