AI Token market expands as companies seek distributed computing

The market for AI tokens is undergoing significant shifts as companies move toward more accessible and distributed computing models. During the Double 11 shopping festival, several e-commerce platforms began offering AI tokens as independent products. This allows users, including individuals and small businesses, to compare prices and purchase tokens in bulk, lowering the barrier to entry for using large language models.

In China, Paixiang Future, a distributed cloud computing provider, is pursuing an IPO. Founded by former PPTV creator Yao Xin, the company operates a model described as the “Didi of computing power.” Rather than building massive data centers, it utilizes a distributed network to manage idle computing resources across thousands of nodes. While the company has seen rapid revenue growth, reaching 770 million yuan in 2025, it faces challenges with declining gross margins and negative cash flow.