Anthropic subscriptions give over 5x the API-equivalent value of OpenAI's

SemiAnalysis measured usage meters on Anthropic and OpenAI subscription plans to estimate each plan's API-equivalent value.

At mid-tier models, it found Anthropic offers roughly 5x the value of OpenAI, after OpenAI halved its $200 plan limits and introduced a $500 tier.

The analysis also argues that subscriptions take a large share of inference compute while providing a small share of revenue, so their limits materially affect lab margins.