How Do AI Agents Spend Your Money? Analyzing and Predicting Token Consumption in Agentic Coding Tasks

The wide adoption of AI agents in complex human workflows is driving rapid growth in LLM token consumption. When agents are deployed on tasks that require a significant amount of tokens, three questions naturally arise: (1) Where do AI agents spend the tokens? (2) Which models are more token-efficient? and (3) Can agents predict their token usage before task execution? In this paper, we present the first systematic study of token consumption patterns in agentic coding tasks. We analyze trajectories from eight frontier LLMs on SWE-bench Verified and evaluate models' ability to predict their own token costs before task execution. We find that: (1) agentic tasks are uniquely expensive, consuming 1000x more tokens than code reasoning and code chat, with input tokens rather than output tokens driving the overall cost; (2) token usage is highly variable and inherently stochastic: runs on the same task can differ by up to 30x in total tokens, and higher token usage does not translate into higher accuracy; instead, accuracy often peaks at intermediate cost and saturates at higher costs; (3) models vary substantially in token efficiency: on the same tasks, Kimi-K2 and Claude-Sonnet-4.5, on average, consume over 1.5 million more tokens than GPT-5; (4) task difficulty rated by human experts only weakly aligns with actual token costs, revealing a fundamental gap between human-perceived complexity and the computational effort agents actually expend; and (5) frontier models fail to accurately predict their own token usage (with weak-to-moderate correlations, up to 0.39) and systematically underestimate real token costs. Our study offers new insights into the economics of AI agents and can inspire future research in this direction.

SPRINT: Enabling Interleaved Planning and Parallelized Execution in Reasoning Models

Large reasoning models (LRMs) excel at complex reasoning tasks but typically generate lengthy sequential chains-of-thought, resulting in long inference times before arriving at the final answer. To address this challenge, we introduce SPRINT, a novel post-training and inference-time framework designed to enable LRMs to dynamically identify and exploit opportunities for parallelization during their reasoning process. SPRINT incorporates an innovative data curation pipeline that reorganizes natural language reasoning trajectories into structured rounds of long-horizon planning and parallel execution. By fine-tuning LRMs on a small amount of such curated data, the models learn to dynamically identify independent subtasks within extended reasoning processes and effectively execute them in parallel. Through extensive evaluations, we show that the models fine-tuned with the SPRINT framework match the performance of reasoning models on complex domains such as mathematics while generating up to ~39% fewer sequential tokens on problems requiring more than 8000 output tokens. Finally, we observe consistent results transferred to two out-of-distribution tasks of GPQA and Countdown with up to 45% and 65% reduction in average sequential tokens for longer reasoning trajectories, while achieving the performance of the fine-tuned reasoning model.

Hawkeye:Efficient Reasoning with Model Collaboration

Chain-of-Thought (CoT) reasoning has demonstrated remarkable effectiveness in enhancing the reasoning abilities of large language models (LLMs). However, its efficiency remains a challenge due to the generation of excessive intermediate reasoning tokens, which introduce semantic redundancy and overly detailed reasoning steps. Moreover, computational expense and latency are significant concerns, as the cost scales with the number of output tokens, including those intermediate steps. In this work, we observe that most CoT tokens are unnecessary, and retaining only a small portion of them is sufficient for producing high-quality responses. Inspired by this, we propose HAWKEYE, a novel post-training and inference framework where a large model produces concise CoT instructions to guide a smaller model in response generation. HAWKEYE quantifies redundancy in CoT reasoning and distills high-density information via reinforcement learning. By leveraging these concise CoTs, HAWKEYE is able to expand responses while reducing token usage and computational cost significantly. Our evaluation shows that HAWKEYE can achieve comparable response quality using only 35% of the full CoTs, while improving clarity, coherence, and conciseness by approximately 10%. Furthermore, HAWKEYE can accelerate end-to-end reasoning by up to 3.4x on complex math tasks while reducing inference cost by up to 60%. HAWKEYE will be open-sourced and the models will be available soon.

EgoPCA: A New Framework for Egocentric Hand-Object Interaction Understanding

With the surge in attention to Egocentric Hand-Object Interaction (Ego-HOI), large-scale datasets such as Ego4D and EPIC-KITCHENS have been proposed. However, most current research is built on resources derived from third-person video action recognition. This inherent domain gap between first- and third-person action videos, which have not been adequately addressed before, makes current Ego-HOI suboptimal. This paper rethinks and proposes a new framework as an infrastructure to advance Ego-HOI recognition by Probing, Curation and Adaption (EgoPCA). We contribute comprehensive pre-train sets, balanced test sets and a new baseline, which are complete with a training-finetuning strategy. With our new framework, we not only achieve state-of-the-art performance on Ego-HOI benchmarks but also build several new and effective mechanisms and settings to advance further research. We believe our data and the findings will pave a new way for Ego-HOI understanding. Code and data are available at https://mvig-rhos.com/ego_pca