AI Series #48: Agent-to-Agent Partnerships; Models Expand Use-Case Scenario

Research evidence excerpt

AI Series #48: Agent-to-Agent Partnerships; Models Expand Use-Case Scenario

China (PRC) | Internet EquityJuneResearch8, 2026

Exhibit 1 - Weekly token consumption over theAI Series #48: Agent-to-Agent Partnerships;

past 12 months as of 8 Jun (tn)

40Models Expand Use-Case Scenario 35

Highlights (1) Tencent: partnerships across different sectors in Agent-to- 3025

Agent (A2A); (2) BABA: Qwen app opens up to third-party Agents and 2015

10Skill and provides one-stop personalized service to users; (3) Meitu and

WPS forms partnerships with former AI design available to WPS users; ; 50

3/10/20253/17/20253/24/20253/31/20254/7/20254/14/20254/21/20254/28/20255/5/20255/12/20255/19/20255/26/20256/2/20256/9/20256/16/20256/23/20256/30/20257/7/20257/14/20257/21/20257/28/20258/4/20258/11/20258/18/20258/25/20259/1/20259/8/20259/15/20259/22/20259/29/202510/6/202510/13/202510/20/202510/27/202511/3/202511/10/202511/17/202511/24/202512/1/202512/8/202512/15/202512/22/202512/29/20251/5/20261/12/20261/19/20261/26/20262/2/20262/9/20262/16/20262/23/20263/2/20263/9/20263/16/20263/23/20263/30/20264/6/20264/13/20264/20/20264/27/20265/4/20265/11/20265/18/20265/25/20266/1/2026

(4) OpenAI is ramping finance and legal agents in Codex after Anthropic in .Source: OpenRouter, Jefferies

May. (5) OpenRouter: Token consumption was up 13.5% vs prior week

Exhibit 2 - Top 10 ranking in terms of token

consumption by model the latest week

In this report, we provide investors with over 50 data points on token consumption in OpenRouter, No Company Model Tokens

pricing for different models, model intelligence in Artificial Analysis, user trends by sub-sector 12 DeepSeekTencent DeepSeekHy3 previewV4 Flash 3.69T2.94T

and other industry data for analysis. 34 MiniMaxXiaomi MiniMaxMiMo-V2.5M3 2.19T2.5T