Rationality of Euler-Chow series and finite generation of Cox rings

In this paper we work with a series whose coefficients are the Euler characteristic of Chow varieties of a given projective variety. For varieties where the Cox ring is defined, it is easy to see that in this case the ring associated to the series is the Cox ring. If this ring is noetherian then the series is rational. It is an open question whether the converse holds. In this paper we give an example showing the converse fails. However we conjecture that it holds when the variety is rationally connected. As an evidence of this conjecture, It is proved that the series is not rational, and in a sense defined, not algebraic, in the case of the blowup of the projective plane at nine or more points in general position. Furthermore, we also treat some other examples of varieties with infinitely generated Cox ring, studied by Mukai and Hassett-Tschinkel. These are the first examples known where the series is not rational. We also compute the series for Del Pezzo surfaces.