Hosts question whether OpenRouter figures capture DeepSeek’s full inference demand

The hosts quoted Dax of Open Code as saying that almost all DeepSeek traffic routed through OpenRouter the previous day could be served by one GB300 rack. He valued that volume at $6–7 million and said that even if hidden demand were ten times higher, compute costs would still be below $100 million. Participants questioned whether those figures captured the whole market: some users could access providers directly, and the estimate did not include companies’ own on-premises compute. Other possible serving channels named included Baseten, Modal, Fireworks, Together AI, Lambda, and many cloud platforms. One host suggested that these providers may account for the larger share of billions in inference spending, while noting that OpenRouter’s share of DeepSeek inference was impossible to know.