The capital market has begun to preemptively value companies that, in investors' opinion, will benefit from the adoption of artificial intelligence, even if they are not yet using these technologies. Economists have identified a persistent gap in returns, which they have termed the "AI premium."
In a large-scale study, analysts examined one of the largest datasets on real AI consumption — 380 trillion tokens collected by the OpenRouter platform from January 2024 to April 2026. This dataset covers over 400 models, including GPT, Claude, and Deepseek, and reflects approximately 2% of global monthly AI consumption.
For a detailed analysis of the impact of technology on the stock market, a special methodology was developed. The researchers created a so-called "AI factor" — an indicator that weekly records changes in global AI consumption. Companies were then divided into two categories: those whose stock prices are highly sensitive to the growing popularity of neural networks, and those whose securities barely react to such changes.
Numbers that speak volumes
A comparison of the returns of these groups revealed a significant gap. Shares of potential leaders yielded investors approximately 0.64% more profit per week. It is this difference that economists have defined as the "AI premium." At first glance, 0.64% seems insignificant, but in the long term, it creates a colossal gap in returns. The stock market constantly revalues assets based on future expectations, not current financial performance.
Who benefits?
The first important finding: the premium has extended far beyond the technology sector. Retailers, consumer goods manufacturers, and even heavy industry are receiving increased returns. Investors are betting on a large-scale increase in labor productivity across all areas of business.
The second unexpected factor is the geographic distribution of profits. The bulk of the premium is concentrated in the US and Europe, which are closely linked to the creation of infrastructure and the construction of modern data centers. In China and emerging markets, this effect is significantly weaker. Market mechanisms reward proximity to cutting-edge developments, which are currently available to few.
The third finding concerns the user structure. Contrary to expectations, the financial premium is generated exclusively by the professional segment — complex, lengthy queries and paid subscriptions. Investors value the depth of technology integration, not mass adoption.
Expert commentary: This phenomenon is a vivid example of how the capital market works ahead of the curve. 0.64% per week is not just a number, but a signal for strategic investors. Those who ignore the "AI premium" today risk missing a structural shift that is already being priced into stock quotes. Attention should be paid not to loud announcements about AI adoption, but to real, professional consumption of the technology.