‘Queen Of The Internet’ Mary Meeker’s New Report on Open AI

The release of a 340-page “Artificial Intelligence Trends Report” by the Internet Queen immediately caused an earthquake in the industry. Six years later, Mary Meeker is still as sharp as ever. The Silicon Valley bigwigs have been working non-stop and started studying all night long!

This time, she set her sights on OpenAI, the rising star in the AI field.

Mary Meeker’s 340-page report argues that the rise of AI is unlike any tech revolution we have seen before.It describes that the speed at which AI is being developed, adopted, spent on, and used, backed up with chart after chart.

An analyst-turned-investor, Meeker is a prominent voice in Silicon Valley whose predictions on the future of technology are hailed as something close to gospel.In 1996, she published the inaugural edition of the “Internet Trends Report,” a comprehensive 322-page analysis that examined the potential of the Internet.

Since then, she has annually released an Internet trends report and accurately predicted several key developments early on:

• In 1996, the online population began to surge, increasing tenfold by 2000.
• By 2000, it was forecasted that online advertising would surpass print advertising, which occurred in 2004.
• In 2008, it was anticipated that mobile usage would dominate, a trend that materialized in 2014.

In 2010, she joined Kleiner Perkins and led their growth fund, making strategic investments in companies such as Facebook, Spotify, Square, Twitter, and Snap, thereby witnessing their significant successes.

In 2018, the KP Growth Fund was spun off and rebranded as BOND Capital. The following year, in 2019, she ceased writing the “Internet Trends Report” to focus on establishing BOND.

Now, after a six-year hiatus, she has returned with a monumental 340-page “AI Trends Report 2025.”

AI is growing faster than the internet ever did

Ms Meeker says AI is splitting into two paths: closed models like GPT-4 and Claude, and open models like Llama and Mixtral.

Meeker shows it clearly: the speed at which AI tools are being adopted globally makes the early internet look slow. Developers are shipping faster, users are adopting faster, and platforms are learning in real time. Everything is compounding — smarter tools are helping build even smarter tools.

• AI reasoning has plummeted to a rock-bottom price
• Nowadays, the rate at which the cost of using AI is decreasing is unprecedented.
• Nowadays, although the cost of training a top-level model is as high as one billion US dollars and has soared 2,400 times in the past eight years, the inference cost has plummeted by 99.7% within two years.

As a result, the rules of the game in the entire industry are being reshaped.

Closed models lead in performance and are favoured by enterprises, but they lack transparency.

Open models are more accessible and are driving innovation in local languages, grassroots tools, and sovereign AI efforts.

“We’re watching two philosophies unfold in parallel, freedom vs control, speed vs safety, openness vs optimization – each shaping not just how AI works, but who gets to wield it,” Ms Meeker writes.

China, for instance, is leading the open-source race. As of Q2 2025, it has released major models like DeepSeek-R1, Alibaba’s Qwen-32B, and Baidu’s Ernie 4.5.The low-cost open-source alternative solution brought by DeepSeek has enabled it to have 194 million monthly active users.

What is even more astonishing is that India is simultaneously DeepSeek’s largest market.

Among the global users of the DeepSeek mobile application, 7% are from India.

One of the reasons is that the low cost of each GB of Internet data enables 67% of the population to access the Internet.

Another highlight is that Indian users are far more sensitive to prices than American users. Therefore, if any competitors can break through with low costs, they will have a very powerful breakthrough point.India has turned out to be a vital market for AI platforms. The country contributes the highest percentage of mobile app users for ChatGPT (13.5 per cent), ahead of the US (8.9 per cent) and Germany (3 per cent). It is also the third-largest user base (6.9 per cent) for China’s DeepSeek. “India has been a key user-base market for AI companies,” the report said.

Jobs aren’t disappearing —The rules of the game in the entire industry are being reshaped.

The panic around “AI is taking our jobs” is real, but the report takes a more nuanced view. Roles are evolving. AI is becoming a co-pilot for writers, coders, designers, and analysts. We’re already seeing a 448% rise in AI-related job postings since 2018 — even as other job listings are dropping. By 2030, you won’t need to be an engineer, but you’ll need to work with one (or one built into your tools).

The user growth, usage volume and capital expenditure of AI have all experienced unprecedented explosive growth, reaching the fastest rate of technological penetration in human history.In just two years, OpenAI’s annual search volume exceeded 365 billion times. The user growth, usage volume and capital expenditure of AI have all experienced unprecedented explosive growth, reaching the fastest rate of technological penetration in human history.

Over the past 1,000 years, technological progress has driven the exponential growth of global GDP.

For the detailed report, please check:

https://www.bondcap.com/report/pdf/Trends_Artificial_Intelligence.pdf