This reset didn't stay in AI stocks. AI tokens sold off with them. ★ What the table shows (@coingecko AI category, red = down) → 11 of the 12 largest AI tokens are down over 7 days. → $VVV −21.3%, $VIRTUAL −18.8%, $FET −15.1%, $TAO −9.3%, $ICP −8.7%. → @NEARProtocol held up over the week (−2.9%), then dropped 9.7% in the last 24 hours. → The only green name is Pearl, up 46%. → The whole category is at ~$24.8B, down about 5% on the day. ★ Why the timing matters → The @OpenAI number came out on Oct 8–9, and AI-linked stocks sold off. → The tokens that fell the most are the ones that rallied in September on the AI story. None of them reported weaker usage of their own this week. → So the market priced AI tokens off the AI equity story, not off anything the networks themselves did. ★ What it means for the "real revenue" argument → Last week I wrote that Bittensor (@opentensor) subnet revenue covers ~7–9% of its emissions and Venice (@AskVenice) burns offset ~18%. → Revenue at that size doesn't stop a token from trading like a sector bet. It only matters once it's big enough to set the price. → Caveat: one week of moving together doesn't prove a lasting link. Crypto as a whole was weak too, with $BTC down 3.2% last week. Which AI token breaks away from AI stocks first, and what would the data need to show for that?