Monroe Ventures: 89% of U.S. corporate open-source model spending flows to Chinese models

According to a report by Yicai, the "2026 Corporate AI Status Report" released by Silicon Valley venture capital firm Menlo Ventures shows that 89% of the spending by American companies on open-source models went to Chinese models, with Kimi accounting for 61%, DeepSeek for 15%, and GLM for 11%.

In addition, on the global AI model aggregation platform OpenRouter, from October 26 to November 1, the number of Token calls for Chinese large models has exceeded that of American models for 27 consecutive weeks, with Chinese models occupying four of the top five models in terms of platform call volume that week.