The one thing I trust is that Chinese prices aren't overinflated. They're almost certainly closer to the actual cost of inference + training amortization than what Western labs are offering.

DeepSeek's price hike is mostly driven by increased demand, for example. It's not about losses so much as they don't have enough infrastructure and need to reduce demand somehow.

Fair, I hadn't looked recently. It looks like currently kimi is either 1/2 or 1/4 Ant pricing depending on whether you think Opus 5 is usable or not. (Deepseek is still an OOM though)