Independent reporting on artificial intelligence.


The Frontier Wire

Topic

Reasoning models

4 articles


Editorials

Tokenmaxxing: why token leaderboards measured the wrong thing

In the spring of 2026, engineers at large technology companies competed on leaderboards ranked by how many AI tokens they consumed. By summer the leaderboards were gone and the budgets were blown. The episode is a lesson in what a token is: a unit of cost, not a unit of work.

18 min read

News

The reasoning-model era has a cost problem

Models that think before they answer are billed for every token of that thinking, whether or not you see it. The controls have moved from token budgets to effort levels, and the price of a request now depends on how hard the question is.

10 min read