A research report released by CITIC Securities reveals that in July 2025, the development of overseas AI applications continued to gather momentum. Google's Token processing volume soared to 980 trillion in July, marking a twofold increase from May. Meanwhile, Microsoft Azure AI Foundry's Token processing volume hit 310 trillion in the second quarter, reflecting a 210% quarter-on-quarter surge.
Propelled by leading applications like ChatGPT and Claude, the combined annual recurring revenue of the top 100 overseas AI applications reached USD 39.3 billion in July, a 17.3% uptick from May, signifying a sustained upward trajectory in revenue.
At the application level, AI Coding and multimodal applications continue to be hot trends. Products such as Lovable, Replit, Pixverse, and Nano Banana are gaining traction among users. Moreover, the potential of AI browsers and emotional companionship apps, which tech giants are progressively rolling out, also warrants attention.