American AI giants are using price reductions to encircle Chinese AI models. OpenAI reduces end-to-end costs by 20%. Anthropic has reduced the usage cost of Opus 5.5 by 40%. The entry-level price is locked in at 0.1 US dollars. This is a price war, But it's not about the price. Anthropic's annualized revenue skyrocketed from 9 billion to 65 billion. Just raised 65 billion in May, Signed contracts with Google and Broadcom for multi gigawatt TPU computing power. American giants burning money are actually trying to lock in the ecosystem. Once the developer's code and agent orchestration are adapted to their API, The cost of migration is as high as a city wall. The Chinese AI big model is taking a different path. In September, DeepSeek lowered Flash tariffs. Xiaomi pushes MiMo Flash to 1 yuan/million tokens. Zhipu is fiercely competing with GLM-5.3-Flash, maintaining a low profit margin. But the low price itself is no longer a moat, The real change lies in the chip. NVIDIA's market share in the Chinese AI acceleration card market, From 95% three years ago, it has dropped to single digits. Domestic AI acceleration card, with a market share exceeding 60%, Huawei Ascend is expected to monopolize 50% by 2026. The performance gap is also narrowing. China's top model lags behind the United States by 3 percentage points, At the beginning of the year, it was 15%. But there is one hurdle that hasn't been overcome yet: making money. The price war is over, the chip has changed lanes. Next, who can find the path to profitability first?