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Open original source ↗Google's AI usage grew 50x in one year. The next year: "only" 6.7x. Boo hoo.
That one slowdown explains why a great AI stock can stall while the business is still BOOMING.
✅ Google's monthly AI tokens: 9.7 trillion in 2024. 480 trillion in 2025. 3.2 quadrillion in 2026.
✅ That's about 50x, then about 6.7x.
😇 That's still really good but the growth rate declines.
➡️ Stocks don't pay you for how big you are. They pay you for how fast you're still growing.
➡️ Same story at OpenAI Thursday. Revenue is up more than 70% since July, and the market threw a fit because the PACE is cooling.
😇 The percentage of growth is slowing and that's what makes people nervous.
➡️ It's why a stock like Micron can look cheap on earnings and still feel stuck. I call it the problem of large numbers.
🚨 The risk in reading it this way: 6.7x on a giant base is more new usage than 50x on a tiny one. Slower growth is NOT weak demand.
➡️ Bottom line: watch the rate, not the size.