According to a Bloomberg chart using OpenRouter and Exponential View data, in June 2025, US models — Google, OpenAI, and Anthropic combined — held around 70% of token share on OpenRouter. By June 2026, that figure had fallen to roughly 30%, with Chinese models from DeepSeek, Tencent, Xiaomi, and Minimax now accounting for the majority of tokens processed on the platform. DeepSeek’s R1 release in early 2025 was the inflection point, matching OpenAI’s top offerings on reasoning benchmarks at a fraction of the training cost. The June 2026 OpenRouter leaderboard shows DeepSeek V4 Flash leading all models by token volume, followed by Tencent’s Hy3 Preview, with Chinese open-source models occupying six of the top ten spots. DeepSeek alone commands 16.3% of all token volume on OpenRouter. The cost argument is central, with Tencent’s Hy3 Preview priced at $0.063 per million input tokens. Anthropic’s Dario Amodei has argued that Chinese models are optimized for benchmarks and distilled from US labs, but Claude Opus 4.7 holds the third spot on the leaderboard as the highest-ranked closed-source model.