Inferra AI / Term research / Token / Token Factory
Token / Token Factory
Tokens are the units LLMs process; cost and watts per token are becoming the industry's efficiency scoreboard, used by neoclouds and inference providers to market capacity.
Watch for: Tokens-per-watt claims in CRWV/NBIS materials and NVDA platform announcements.
“token” is used by 96 companies in 292 documents in this edition.
Documents using the term, by quarter
| Quarter | Documents |
|---|---|
| Q1 2026 | 51 |
| Q2 2026 | 43 |
| Q3 2026 | 38 |
| Q4 2026 (in progress) | 8 |
Q4 2026 is in progress — documents filed through Nov 1, 2026. Quarters are calendar quarters, bucketed by document date.
Companies using it most · documents · in Q4 2026
| # | Ticker | Company | Documents | In Q4 2026 |
|---|---|---|---|---|
| 1 | ADSK | Autodesk | 18 | 0 in Q4 2026 |
| 2 | COIN | Coinbase | 17 | 0 in Q4 2026 |
| 3 | CBOE | Cboe Global Markets | 10 | 1 in Q4 2026 |
| 4 | DJT | Trump Media & Technology Group Corp. | 10 | 0 in Q4 2026 |
| 5 | RDDT | 10 | 0 in Q4 2026 | |
| 6 | HOOD | Robinhood Markets | 9 | 1 in Q4 2026 |
| 7 | XYZ | Block, Inc. | 9 | 0 in Q4 2026 |
| 8 | TW | Tradeweb Markets | 8 | 1 in Q4 2026 |
| 9 | TNDM | Tandem Diabetes Care Inc. | 8 | 0 in Q4 2026 |
| 10 | BAND | Bandwidth Inc. | 7 | 0 in Q4 2026 |
| 11 | CRCL | Circle Internet Group | 7 | 0 in Q4 2026 |
| 12 | SE | Sea Limited | 7 | 0 in Q4 2026 |
| 13 | TWLO | Twilio | 7 | 0 in Q4 2026 |
| 14 | AAPL | Apple Inc. | 6 | 0 in Q4 2026 |
| 15 | NBIS | Nebius Group | 6 | 0 in Q4 2026 |
| 16 | PURR | Hyperliquid Strategies Inc | 6 | 0 in Q4 2026 |
| 17 | VIRT | Virtu Financial, Inc. | 6 | 0 in Q4 2026 |
| 18 | BBNX | Beta Bionics, Inc. | 5 | 0 in Q4 2026 |
| 19 | META | Meta Platforms | 4 | 1 in Q4 2026 |
| 20 | BR | Broadridge Financial Solutions | 4 | 0 in Q4 2026 |
| 21 | DUOL | Duolingo, Inc. | 4 | 0 in Q4 2026 |
| 22 | FIGR | Figure Technology Solutions, Inc. | 4 | 0 in Q4 2026 |
| 23 | FUTU | Futu Holdings Ltd | 4 | 0 in Q4 2026 |
| 24 | HUT | Hut 8 Corp. | 4 | 0 in Q4 2026 |
| 25 | MA | Mastercard | 4 | 0 in Q4 2026 |
| 26 | MELI | MercadoLibre | 4 | 0 in Q4 2026 |
| 27 | MIAX | Miami International Holdings, Inc. | 4 | 0 in Q4 2026 |
| 28 | SBET | Sharplink, Inc. | 4 | 0 in Q4 2026 |
| 29 | CD | Chaince Digital Holdings Inc. | 3 | 0 in Q4 2026 |
| 30 | FRO | Frontline Plc | 3 | 0 in Q4 2026 |
| 31 | HIVE | HIVE Digital Technologies | 3 | 0 in Q4 2026 |
| 32 | PYPL | PayPal | 3 | 0 in Q4 2026 |
| 33 | V | Visa Inc. | 3 | 0 in Q4 2026 |
| 34 | PENG | Penguin Solutions, Inc. | 2 | 2 in Q4 2026 |
| 35 | CHRN | ChronoScale Holdings Corp | 2 | 1 in Q4 2026 |
| 36 | FDS | FactSet | 2 | 1 in Q4 2026 |
| 37 | ASX | ASE Technology Holding | 2 | 0 in Q4 2026 |
| 38 | BABA | Alibaba Group | 2 | 0 in Q4 2026 |
| 39 | BMBL | Bumble Inc. | 2 | 0 in Q4 2026 |
| 40 | CBRS | Cerebras Systems | 2 | 0 in Q4 2026 |
| 41 | CYRX | Cryoport, Inc. | 2 | 0 in Q4 2026 |
| 42 | DDOG | Datadog | 2 | 0 in Q4 2026 |
| 43 | FIG | Figma, Inc. | 2 | 0 in Q4 2026 |
| 44 | FTNT | Fortinet | 2 | 0 in Q4 2026 |
| 45 | HAS | Hasbro | 2 | 0 in Q4 2026 |
| 46 | IBOC | International Bancshares Corp | 2 | 0 in Q4 2026 |
| 47 | NU | Nu Holdings | 2 | 0 in Q4 2026 |
| 48 | NVDA | NVIDIA | 2 | 0 in Q4 2026 |
| 49 | OLLI | Ollie's Bargain Outlet Holdings, Inc. | 2 | 0 in Q4 2026 |
| 50 | SHEL | Shell | 2 | 0 in Q4 2026 |
| 51 | WT | WisdomTree, Inc. | 2 | 0 in Q4 2026 |
| 52 | ADBE | Adobe Inc. | 1 | 0 in Q4 2026 |
| 53 | AMGN | Amgen | 1 | 0 in Q4 2026 |
| 54 | APP | AppLovin | 1 | 0 in Q4 2026 |
| 55 | BAC | Bank of America | 1 | 0 in Q4 2026 |
| 56 | BBD | Banco Bradesco | 1 | 0 in Q4 2026 |
| 57 | BMNR | Bitmine Immersion Technologies, Inc. | 1 | 0 in Q4 2026 |
| 58 | CIB | Grupo Cibest (Bancolombia) | 1 | 0 in Q4 2026 |
| 59 | CORZ | Core Scientific, Inc./Tx | 1 | 0 in Q4 2026 |
| 60 | CUBI | Customers Bancorp, Inc. | 1 | 0 in Q4 2026 |
| 61 | CVNA | Carvana | 1 | 0 in Q4 2026 |
| 62 | DBX | Dropbox, Inc. | 1 | 0 in Q4 2026 |
| 63 | DELL | Dell Technologies | 1 | 0 in Q4 2026 |
| 64 | DKNG | Draftkings Inc. | 1 | 0 in Q4 2026 |
| 65 | EL | Estée Lauder Companies | 1 | 0 in Q4 2026 |
| 66 | FHI | Federated Hermes, Inc. | 1 | 0 in Q4 2026 |
| 67 | FROG | Jfrog Ltd | 1 | 0 in Q4 2026 |
| 68 | FSLY | Fastly, Inc. | 1 | 0 in Q4 2026 |
| 69 | GGAL | Grupo Financiero Galicia Sa | 1 | 0 in Q4 2026 |
| 70 | GME | Gamestop Corp. | 1 | 0 in Q4 2026 |
| 71 | GRAB | Grab Holdings Ltd | 1 | 0 in Q4 2026 |
| 72 | IOT | Samsara | 1 | 0 in Q4 2026 |
| 73 | MARA | MARA Holdings, Inc. | 1 | 0 in Q4 2026 |
| 74 | MAT | Mattel Inc. | 1 | 0 in Q4 2026 |
| 75 | MFC | Manulife Financial | 1 | 0 in Q4 2026 |
| 76 | MMI | Marcus & Millichap, Inc. | 1 | 0 in Q4 2026 |
| 77 | NTNX | Nutanix | 1 | 0 in Q4 2026 |
| 78 | PANW | Palo Alto Networks | 1 | 0 in Q4 2026 |
| 79 | PATH | Uipath, Inc. | 1 | 0 in Q4 2026 |
| 80 | PNC | PNC Financial Services | 1 | 0 in Q4 2026 |
| 81 | RMBS | Rambus Inc. | 1 | 0 in Q4 2026 |
| 82 | RYN | Rayonier Inc. | 1 | 0 in Q4 2026 |
| 83 | SAN | Banco Santander | 1 | 0 in Q4 2026 |
| 84 | SAP | SAP SE | 1 | 0 in Q4 2026 |
| 85 | SHAZ | SharonAI Holdings Inc. | 1 | 0 in Q4 2026 |
| 86 | SKHY | SK hynix Inc. | 1 | 0 in Q4 2026 |
| 87 | SKM | Sk Telecom Co Ltd | 1 | 0 in Q4 2026 |
| 88 | SU | Suncor Energy | 1 | 0 in Q4 2026 |
| 89 | USB | U.S. Bancorp | 1 | 0 in Q4 2026 |
| 90 | VCTR | Victory Capital Holdings, Inc. | 1 | 0 in Q4 2026 |
| 91 | VFS | Vinfast Auto Ltd. | 1 | 0 in Q4 2026 |
| 92 | VZ | Verizon | 1 | 0 in Q4 2026 |
| 93 | WFC | Wells Fargo | 1 | 0 in Q4 2026 |
| 94 | WIT | Wipro | 1 | 0 in Q4 2026 |
| 95 | WU | Western Union CO | 1 | 0 in Q4 2026 |
| 96 | XP | Xp Inc. | 1 | 0 in Q4 2026 |
Evidence — the top-ranked company
Evidence
Autodesk (ADSK)
18 documents use “token” in this edition — 0 in Q4 2026.
Earnings presentation
Most recent deck in this edition
Autodesk — Presentation / slide deck (8-K exhibit)
This deck’s text is indexed, but no passage using “token” is recorded in it.
Where the term appears — the documents
Autodesk — 10-Q Quarterly report
IN THE FULL TEXT · “…programs providing enterprise customers with token-based access to a broad pool of Autodesk…”
Autodesk — 10-Q Quarterly report
The term appears in this document’s full text — open the original to read it in context.
The term appears in this document’s full text — open the original to read it in context.
Autodesk — 10-Q Quarterly report
The term appears in this document’s full text — open the original to read it in context.
Autodesk — 10-Q Quarterly report
The term appears in this document’s full text — open the original to read it in context.
Autodesk — 10-Q Quarterly report
The term appears in this document’s full text — open the original to read it in context.
The term appears in this document’s full text — open the original to read it in context.
Autodesk — 10-Q Quarterly report
IN THE FULL TEXT · “…distribution agreements will continue in emerging markets. We introduced a new transaction model for our token-based Flex offering in North America, and certain countries in EMEA, and APAC during fiscal 2023 and…”
Autodesk — 10-Q Quarterly report
IN THE FULL TEXT · “…efforts with value-added resellers and Solution Providers. We introduced a new transaction model for our token-based Flex offering in North America, and certain countries in EMEA, and APAC during fiscal 2023 and…”
IN THE FULL TEXT · “…occurs directly between Autodesk and the customer. We introduced this new transaction model for our token-based Flex offering in certain countries globally, and for most of our subscription offerings in Australia…”
8 more documents also use the term. View all 18 in the library search →
Counts are documents containing the term, counted from this edition’s full-text index of the filings, the release and deck text the library holds, and document titles and details — the same sources the library search on the homepage runs on, so the two always agree. A document counts once, however many times the term appears in it.