分析由智能体框架驱动的 AI 推理经济学转变及去中心化实验室的崛起。

Inference is the New Oil

10x cheaper inference cost BUT usage increases by 30x

The rise of AI agent harnesses (OpenClaw, Hermes) drastically increased the inference usage — billions of tokens burnt everyday (and not stopping anytime soon)

Anthropic banned the usage of harnesses with Claude subscription, saving compute/inference for enterprise clients + for training Mythos (the next frontier model)

Open-weight labs experience much higher demand due to cheap/efficient inference, optimized for long running workflows

Decentralized AI labs found initial PMF from offering token subsidy-driven inference infra + private AI moat. Token alignment & unique perpetual credits further lock-in users

The economics of AI across Closed AI labs, Open-weight labs, and DeAI labs are changing fast. 

"Gone are the days when players compete on intelligence alone"

Today, it's all about feeding a massive fleet of token-hungry agents while anchoring a customer base that can’t afford to leave

Read the Full piece on Substack

[Link in bio]