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Token economics is the main battleground in the second half of AI; this breakdown of the seven-layer cake is worth a close look.
Author: Rhythm BlockBeats
Source:
Reprinted from: Mars Finance
The driving force of the AI era has shifted from models to tokens
In the past two years, the narrative of the AI industry’s first half mainly revolved around the "big model wars" initiated by major tech companies. The number of parameters has grown from hundreds of billions to trillions, training costs have risen from tens of millions of dollars to hundreds of millions, and GPU clusters have expanded from thousands of cards to tens of thousands. Everyone has been discussing whose model is stronger, who is closer to AGI, as if the end goal of AI competition is determined by the performance of large models themselves.
But by 2026, the driving logic of the AI industry has changed. JPMorgan’s latest report believes that the true driver behind the continued expansion of AI infrastructure in the future will be