New ARR per New Chip (Monthly Approximation, $/Chip/Year)
New ARR per New Chip (Monthly Approximation, $/Chip/Year)#
New ARR per new chip is still above the average, so the squeeze continues; the warning comes when marginal falls below average.Draft, pending review
How to read this chart
The orange line is a monthly approximation: OpenAI plus Anthropic monthly new ARR divided by market-wide monthly new compute. Dark dots are the exact quarterly values (five companies in the numerator). The grey dashed line is the average yardstick. 4Q24 was the trough of confidence.
Source: Epoch AI (CC BY 4.0); FinSight compilation and estimates · Updated 2026-09-04
↩ This chart lives on the paged1-arr-marginal-mon-01