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AI Tokenomics: Making Agentic AI Costs Predictable for Enterprises

Why predictability, not lower token prices, is the key to enterprise AI ROI

Enterprises cannot afford to wait for certainty with AI; those that do will fall behind. But exploring a new technology should never mean losing control of cost and risk. A well-established principle of entrepreneurship makes this clear: act within an affordable loss, committing only what you can afford to lose while you learn.

Apply this to AI. ROI is return divided by investment. If the investment cannot be forecast with confidence, neither can the ROI.

The token: AI’s unit of currency

A token is the basic unit of text a language model reads and writes, roughly four characters or three-quarters of an English word (other languages often need more). It has also become the currency of GenAI: cloud providers charge per million tokens, with output tokens typically several times more expensive than input.

AI tokenomics is the economics of AI consumption: how token usage translates into cost, how that consumption scales with adoption, and ultimately how AI expenditure translates into business value. It is also where enterprise AI budgets come unstuck.

Why agentic AI breaks the budget

Agentic AI changes the economics because one business task no longer corresponds to one model call. An agent may plan, retrieve context, call tools, invoke other models, validate results and retry before completing a task. Token consumption therefore depends not only on the number of users, but on the complexity and behaviour of the workflow itself. So, the same task can consume a different number of tokens every time it runs, and consumption grows with adoption.

The usual fixes, such as capping tokens per user or routing requests to cheaper models, treat the symptoms. They trade value for control, and the bill stays open-ended.

Cheaper tokens are not the answer

Some AI offerings respond to this problem by reducing the price per token. But cheaper tokens do not fundamentally change the economic model: a lower price on an unpredictable quantity is still unpredictable. To sign off on agentic AI, CFOs need more than a smaller variable bill; they need a predictable and governable cost model.

Nor are frontier models always necessary. Smaller and specialized open models, combined with enterprise context, retrieval, tools and well-designed workflows, can provide the required performance for a growing range of use cases.

Zero per-token fees

This is the thinking behind GaiaB™ by AUSTRIACARD: a sovereign enterprise AI platform designed to run open models within the enterprise perimeter, including in fully air-gapped environments, ensuring your data stays within your perimeter without per-token inference fees.

Instead of paying for each token consumed, enterprises invest in dedicated AI capacity. There are no per-token inference fees, infrastructure costs are predictable and capacity can be planned against expected workloads.

This does not make AI computation free. It changes its economics: from an open-ended consumption model to infrastructure-based economics that enterprises can own, govern and scale. With GaiaB, the investment is bounded and knowable, allowing enterprises to experiment and scale within a defined cost envelope.

Take back control of the “I”, and ROI becomes something you can actually calculate.

Meet us at Web Summit Lisbon

  • “The Token Trap: Precision Over Power with GaiaB” – Corporate Innovation Stage, 10 November, 16:20
  • Masterclass: “AI Sovereignty: Data Control, Governance and Predictable AI Costs” – AI Stage, 11 November, 11:25

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DISCLAIMER

You should read the following important notice before accessing, reading or using in any way the Prospectus on this website.

This Prospectus of the company under the corporate name “AUSTRIACARD HOLDINGS AG” (hereafter the “Company”) which can be accessed through this link (https://www.nbg.gr/el/footer/enimerwtika-deltia) of the website of NATIONAL BANK OF GREECE S.A., was approved by the Board of Directors of the Hellenic Capital Market Commission on 24.01.2023 and relates to the dual listing of the shares in the Company on the Regulated Market of the Athens Exchange and the Regulated Market of the Vienna Stock Exchange, including (a) the existing shares in the Company and (b) the new shares in the Company to be issued in the context of a capital increase due to the merger by absorption by the Company of the company under the corporate name “INFORM P. LYKOS HOLDINGS S.A.” (hereinafter collectively referred to as the “Shares”).

The Prospectus is not published in relation to and does not constitute offer of Shares by or on behalf of the Company.

The Prospectus was approved by the Board of Directors of the Hellenic Capital Market Commission following its transfer by the Austrian Financial Market Authority pursuant to article 20(8) of Regulation (EU) 2017/1129, in connection with the information that must be furnished to investors as required under Regulation (EU) 2017/1129, Greek law 4706/2020 and Delegated Regulations (EU) 2019/979 and 2019/980, as amended and in force. The aforementioned approval shall not be considered as an endorsement of the Company and the quality of the Shares that are the subject of the Prospectus. Investment in the Shares entails risks. Investors should make their own assessment as to the suitability of investing in the Shares.

The Prospectus will be valid for one (1) year from the date of its approval by the Board of Directors of the Hellenic Capital Market Commission. Each significant new factor, material mistake, or material inaccuracy relating to the information included in the Prospectus which may affect the assessment of the Shares in the Company and which arises or is noted between the time when the Prospectus is approved and the commencement of trading of the Shares on the Regulated Market of the Athens Exchange and the Regulated Market of the Vienna Stock Exchange, will be included in a supplement to the Prospectus which will be published in accordance with article 23 of the Regulation 2017/1129 on the Prospectus, in accordance with at least the same arrangements made for the publication of the Prospectus. No obligation for the publication of a supplement to the Prospectus applies after the commencement of trading of the Shares on the Regulated Market of the Athens Exchange and the Regulated Market of the Vienna Stock Exchange.

Distribution of the Prospectus and any other documents or information contained in this link and this webpage may be in general restricted by the law and the regulatory framework applicable in some countries. This webpage and its content do not in any way constitute an offer for sale or solicitation to buy any securities in any jurisdiction where such offer or solicitation is unlawful under its applicable legislative and regulatory framework.

Finally, investors outside of Greece and Austria or investors subject to the relevant legislation and jurisdiction of other countries may be prohibited to exercise any rights deriving from the Shares, regardless of whether they acquire Shares in any way. If you are viewing this website from the USA, Canada, South Africa, Australia, Japan and / or any other country other than Greece and Austria, where the information provided in the Prospectus is not permitted by the law, please leave this website.

See the document here
DISCLAIMER

You should read the following important notice before accessing, reading or using in any way the Prospectus on this website.

This Prospectus of the company under the corporate name “AUSTRIACARD HOLDINGS AG” (hereafter the “Company”) which can be accessed through this link (https://www.nbg.gr/el/footer/enimerwtika-deltia) of the website of NATIONAL BANK OF GREECE S.A., was approved by the Board of Directors of the Hellenic Capital Market Commission on 24.01.2023 and relates to the dual listing of the shares in the Company on the Regulated Market of the Athens Exchange and the Regulated Market of the Vienna Stock Exchange, including (a) the existing shares in the Company and (b) the new shares in the Company to be issued in the context of a capital increase due to the merger by absorption by the Company of the company under the corporate name “INFORM P. LYKOS HOLDINGS S.A.” (hereinafter collectively referred to as the “Shares”).

The Prospectus is not published in relation to and does not constitute offer of Shares by or on behalf of the Company.

The Prospectus was approved by the Board of Directors of the Hellenic Capital Market Commission following its transfer by the Austrian Financial Market Authority pursuant to article 20(8) of Regulation (EU) 2017/1129, in connection with the information that must be furnished to investors as required under Regulation (EU) 2017/1129, Greek law 4706/2020 and Delegated Regulations (EU) 2019/979 and 2019/980, as amended and in force. The aforementioned approval shall not be considered as an endorsement of the Company and the quality of the Shares that are the subject of the Prospectus. Investment in the Shares entails risks. Investors should make their own assessment as to the suitability of investing in the Shares.

The Prospectus will be valid for one (1) year from the date of its approval by the Board of Directors of the Hellenic Capital Market Commission. Each significant new factor, material mistake, or material inaccuracy relating to the information included in the Prospectus which may affect the assessment of the Shares in the Company and which arises or is noted between the time when the Prospectus is approved and the commencement of trading of the Shares on the Regulated Market of the Athens Exchange and the Regulated Market of the Vienna Stock Exchange, will be included in a supplement to the Prospectus which will be published in accordance with article 23 of the Regulation 2017/1129 on the Prospectus, in accordance with at least the same arrangements made for the publication of the Prospectus. No obligation for the publication of a supplement to the Prospectus applies after the commencement of trading of the Shares on the Regulated Market of the Athens Exchange and the Regulated Market of the Vienna Stock Exchange.

Distribution of the Prospectus and any other documents or information contained in this link and this webpage may be in general restricted by the law and the regulatory framework applicable in some countries. This webpage and its content do not in any way constitute an offer for sale or solicitation to buy any securities in any jurisdiction where such offer or solicitation is unlawful under its applicable legislative and regulatory framework.

Finally, investors outside of Greece and Austria or investors subject to the relevant legislation and jurisdiction of other countries may be prohibited to exercise any rights deriving from the Shares, regardless of whether they acquire Shares in any way. If you are viewing this website from the USA, Canada, South Africa, Australia, Japan and / or any other country other than Greece and Austria, where the information provided in the Prospectus is not permitted by the law, please leave this website.

See the document here
DISCLAIMER

You should read the following important notice before accessing, reading or using in any way the Prospectus on this website.

This Prospectus of the company under the corporate name “AUSTRIACARD HOLDINGS AG” (hereafter the “Company”) which can be accessed through this link (https://www.nbg.gr/el/footer/enimerwtika-deltia) of the website of NATIONAL BANK OF GREECE S.A., was approved by the Board of Directors of the Hellenic Capital Market Commission on 24.01.2023 and relates to the dual listing of the shares in the Company on the Regulated Market of the Athens Exchange and the Regulated Market of the Vienna Stock Exchange, including (a) the existing shares in the Company and (b) the new shares in the Company to be issued in the context of a capital increase due to the merger by absorption by the Company of the company under the corporate name “INFORM P. LYKOS HOLDINGS S.A.” (hereinafter collectively referred to as the “Shares”).

The Prospectus is not published in relation to and does not constitute offer of Shares by or on behalf of the Company.

The Prospectus was approved by the Board of Directors of the Hellenic Capital Market Commission following its transfer by the Austrian Financial Market Authority pursuant to article 20(8) of Regulation (EU) 2017/1129, in connection with the information that must be furnished to investors as required under Regulation (EU) 2017/1129, Greek law 4706/2020 and Delegated Regulations (EU) 2019/979 and 2019/980, as amended and in force. The aforementioned approval shall not be considered as an endorsement of the Company and the quality of the Shares that are the subject of the Prospectus. Investment in the Shares entails risks. Investors should make their own assessment as to the suitability of investing in the Shares.

The Prospectus will be valid for one (1) year from the date of its approval by the Board of Directors of the Hellenic Capital Market Commission. Each significant new factor, material mistake, or material inaccuracy relating to the information included in the Prospectus which may affect the assessment of the Shares in the Company and which arises or is noted between the time when the Prospectus is approved and the commencement of trading of the Shares on the Regulated Market of the Athens Exchange and the Regulated Market of the Vienna Stock Exchange, will be included in a supplement to the Prospectus which will be published in accordance with article 23 of the Regulation 2017/1129 on the Prospectus, in accordance with at least the same arrangements made for the publication of the Prospectus. No obligation for the publication of a supplement to the Prospectus applies after the commencement of trading of the Shares on the Regulated Market of the Athens Exchange and the Regulated Market of the Vienna Stock Exchange.

Distribution of the Prospectus and any other documents or information contained in this link and this webpage may be in general restricted by the law and the regulatory framework applicable in some countries. This webpage and its content do not in any way constitute an offer for sale or solicitation to buy any securities in any jurisdiction where such offer or solicitation is unlawful under its applicable legislative and regulatory framework.

Finally, investors outside of Greece and Austria or investors subject to the relevant legislation and jurisdiction of other countries may be prohibited to exercise any rights deriving from the Shares, regardless of whether they acquire Shares in any way. If you are viewing this website from the USA, Canada, South Africa, Australia, Japan and / or any other country other than Greece and Austria, where the information provided in the Prospectus is not permitted by the law, please leave this website.

See the document here
DISCLAIMER

You should read the following important notice before accessing, reading or using in any way the Prospectus on this website.

This Prospectus of the company under the corporate name “AUSTRIACARD HOLDINGS AG” (hereafter the “Company”) which can be accessed through this link (https://www.nbg.gr/el/footer/enimerwtika-deltia) of the website of NATIONAL BANK OF GREECE S.A., was approved by the Board of Directors of the Hellenic Capital Market Commission on 24.01.2023 and relates to the dual listing of the shares in the Company on the Regulated Market of the Athens Exchange and the Regulated Market of the Vienna Stock Exchange, including (a) the existing shares in the Company and (b) the new shares in the Company to be issued in the context of a capital increase due to the merger by absorption by the Company of the company under the corporate name “INFORM P. LYKOS HOLDINGS S.A.” (hereinafter collectively referred to as the “Shares”).

The Prospectus is not published in relation to and does not constitute offer of Shares by or on behalf of the Company.

The Prospectus was approved by the Board of Directors of the Hellenic Capital Market Commission following its transfer by the Austrian Financial Market Authority pursuant to article 20(8) of Regulation (EU) 2017/1129, in connection with the information that must be furnished to investors as required under Regulation (EU) 2017/1129, Greek law 4706/2020 and Delegated Regulations (EU) 2019/979 and 2019/980, as amended and in force. The aforementioned approval shall not be considered as an endorsement of the Company and the quality of the Shares that are the subject of the Prospectus. Investment in the Shares entails risks. Investors should make their own assessment as to the suitability of investing in the Shares.

The Prospectus will be valid for one (1) year from the date of its approval by the Board of Directors of the Hellenic Capital Market Commission. Each significant new factor, material mistake, or material inaccuracy relating to the information included in the Prospectus which may affect the assessment of the Shares in the Company and which arises or is noted between the time when the Prospectus is approved and the commencement of trading of the Shares on the Regulated Market of the Athens Exchange and the Regulated Market of the Vienna Stock Exchange, will be included in a supplement to the Prospectus which will be published in accordance with article 23 of the Regulation 2017/1129 on the Prospectus, in accordance with at least the same arrangements made for the publication of the Prospectus. No obligation for the publication of a supplement to the Prospectus applies after the commencement of trading of the Shares on the Regulated Market of the Athens Exchange and the Regulated Market of the Vienna Stock Exchange.

Distribution of the Prospectus and any other documents or information contained in this link and this webpage may be in general restricted by the law and the regulatory framework applicable in some countries. This webpage and its content do not in any way constitute an offer for sale or solicitation to buy any securities in any jurisdiction where such offer or solicitation is unlawful under its applicable legislative and regulatory framework.

Finally, investors outside of Greece and Austria or investors subject to the relevant legislation and jurisdiction of other countries may be prohibited to exercise any rights deriving from the Shares, regardless of whether they acquire Shares in any way. If you are viewing this website from the USA, Canada, South Africa, Australia, Japan and / or any other country other than Greece and Austria, where the information provided in the Prospectus is not permitted by the law, please leave this website.

See the document here
DISCLAIMER

You should read the following important notice before accessing, reading or using in any way the Prospectus on this website.

This Prospectus of the company under the corporate name “AUSTRIACARD HOLDINGS AG” (hereafter the “Company”) which can be accessed through this link (https://www.nbg.gr/el/footer/enimerwtika-deltia) of the website of NATIONAL BANK OF GREECE S.A., was approved by the Board of Directors of the Hellenic Capital Market Commission on 24.01.2023 and relates to the dual listing of the shares in the Company on the Regulated Market of the Athens Exchange and the Regulated Market of the Vienna Stock Exchange, including (a) the existing shares in the Company and (b) the new shares in the Company to be issued in the context of a capital increase due to the merger by absorption by the Company of the company under the corporate name “INFORM P. LYKOS HOLDINGS S.A.” (hereinafter collectively referred to as the “Shares”).

The Prospectus is not published in relation to and does not constitute offer of Shares by or on behalf of the Company.

The Prospectus was approved by the Board of Directors of the Hellenic Capital Market Commission following its transfer by the Austrian Financial Market Authority pursuant to article 20(8) of Regulation (EU) 2017/1129, in connection with the information that must be furnished to investors as required under Regulation (EU) 2017/1129, Greek law 4706/2020 and Delegated Regulations (EU) 2019/979 and 2019/980, as amended and in force. The aforementioned approval shall not be considered as an endorsement of the Company and the quality of the Shares that are the subject of the Prospectus. Investment in the Shares entails risks. Investors should make their own assessment as to the suitability of investing in the Shares.

The Prospectus will be valid for one (1) year from the date of its approval by the Board of Directors of the Hellenic Capital Market Commission. Each significant new factor, material mistake, or material inaccuracy relating to the information included in the Prospectus which may affect the assessment of the Shares in the Company and which arises or is noted between the time when the Prospectus is approved and the commencement of trading of the Shares on the Regulated Market of the Athens Exchange and the Regulated Market of the Vienna Stock Exchange, will be included in a supplement to the Prospectus which will be published in accordance with article 23 of the Regulation 2017/1129 on the Prospectus, in accordance with at least the same arrangements made for the publication of the Prospectus. No obligation for the publication of a supplement to the Prospectus applies after the commencement of trading of the Shares on the Regulated Market of the Athens Exchange and the Regulated Market of the Vienna Stock Exchange.

Distribution of the Prospectus and any other documents or information contained in this link and this webpage may be in general restricted by the law and the regulatory framework applicable in some countries. This webpage and its content do not in any way constitute an offer for sale or solicitation to buy any securities in any jurisdiction where such offer or solicitation is unlawful under its applicable legislative and regulatory framework.

Finally, investors outside of Greece and Austria or investors subject to the relevant legislation and jurisdiction of other countries may be prohibited to exercise any rights deriving from the Shares, regardless of whether they acquire Shares in any way. If you are viewing this website from the USA, Canada, South Africa, Australia, Japan and / or any other country other than Greece and Austria, where the information provided in the Prospectus is not permitted by the law, please leave this website.

See the document here
DISCLAIMER

You should read the following important notice before accessing, reading or using in any way the Prospectus on this website.

This Prospectus of the company under the corporate name “AUSTRIACARD HOLDINGS AG” (hereafter the “Company”) which can be accessed through this link (https://www.nbg.gr/el/footer/enimerwtika-deltia) of the website of NATIONAL BANK OF GREECE S.A., was approved by the Board of Directors of the Hellenic Capital Market Commission on 24.01.2023 and relates to the dual listing of the shares in the Company on the Regulated Market of the Athens Exchange and the Regulated Market of the Vienna Stock Exchange, including (a) the existing shares in the Company and (b) the new shares in the Company to be issued in the context of a capital increase due to the merger by absorption by the Company of the company under the corporate name “INFORM P. LYKOS HOLDINGS S.A.” (hereinafter collectively referred to as the “Shares”).

The Prospectus is not published in relation to and does not constitute offer of Shares by or on behalf of the Company.

The Prospectus was approved by the Board of Directors of the Hellenic Capital Market Commission following its transfer by the Austrian Financial Market Authority pursuant to article 20(8) of Regulation (EU) 2017/1129, in connection with the information that must be furnished to investors as required under Regulation (EU) 2017/1129, Greek law 4706/2020 and Delegated Regulations (EU) 2019/979 and 2019/980, as amended and in force. The aforementioned approval shall not be considered as an endorsement of the Company and the quality of the Shares that are the subject of the Prospectus. Investment in the Shares entails risks. Investors should make their own assessment as to the suitability of investing in the Shares.

The Prospectus will be valid for one (1) year from the date of its approval by the Board of Directors of the Hellenic Capital Market Commission. Each significant new factor, material mistake, or material inaccuracy relating to the information included in the Prospectus which may affect the assessment of the Shares in the Company and which arises or is noted between the time when the Prospectus is approved and the commencement of trading of the Shares on the Regulated Market of the Athens Exchange and the Regulated Market of the Vienna Stock Exchange, will be included in a supplement to the Prospectus which will be published in accordance with article 23 of the Regulation 2017/1129 on the Prospectus, in accordance with at least the same arrangements made for the publication of the Prospectus. No obligation for the publication of a supplement to the Prospectus applies after the commencement of trading of the Shares on the Regulated Market of the Athens Exchange and the Regulated Market of the Vienna Stock Exchange.

Distribution of the Prospectus and any other documents or information contained in this link and this webpage may be in general restricted by the law and the regulatory framework applicable in some countries. This webpage and its content do not in any way constitute an offer for sale or solicitation to buy any securities in any jurisdiction where such offer or solicitation is unlawful under its applicable legislative and regulatory framework.

Finally, investors outside of Greece and Austria or investors subject to the relevant legislation and jurisdiction of other countries may be prohibited to exercise any rights deriving from the Shares, regardless of whether they acquire Shares in any way. If you are viewing this website from the USA, Canada, South Africa, Australia, Japan and / or any other country other than Greece and Austria, where the information provided in the Prospectus is not permitted by the law, please leave this website.

See the document here