通证经济、人工智能推理和新淘金热：解读人工智能投资热潮

随着公司利用 NVIDIA Blackwell 平台等先进硬件来释放 AI 基础设施投资前所未有的回报，探索代币经济与 AI 推理的交叉点。

The AI landscape is rapidly evolving, with 'Token economy, AI inference, gold rush' becoming increasingly intertwined. Companies are no longer just experimenting with AI; they're building AI factories. This shift is fueled by advancements in AI inference and the potential for massive token revenue generation.

人工智能领域正在迅速发展，“代币经济、人工智能推理、淘金热”日益交织在一起。公司不再只是尝试人工智能；而是开始尝试人工智能。他们正在建造人工智能工厂。人工智能推理的进步和大规模代币收入的潜力推动了这种转变。

AI Inference: The Engine of the Token Economy

AI推理：通证经济的引擎

AI models are now capable of complex reasoning, demanding more compute power. This has made AI inference – the process of running trained AI models to generate predictions or outputs – a major driver of compute costs. However, it's also where the real value of AI is delivered daily. As Ian Buck, vice president at NVIDIA, puts it, inference is where AI delivers value every day.

人工智能模型现在能够进行复杂的推理，需要更多的计算能力。这使得人工智能推理（运行经过训练的人工智能模型以生成预测或输出的过程）成为计算成本的主要驱动因素。然而，这也是人工智能每天都能发挥真正价值的地方。正如 NVIDIA 副总裁 Ian Buck 所说，推理是人工智能每天创造价值的地方。

NVIDIA's Blackwell: Striking Gold in the AI Inference Rush

NVIDIA Blackwell：在 AI 推理热潮中夺金

NVIDIA's Blackwell platform is emerging as a leader in AI inference, offering both strong performance and efficiency. The InferenceMAX v1 benchmark demonstrates that a $5 million NVIDIA GB200 NVL72 system could generate approximately $75 million in token revenue – a 15x ROI. This kind of return is reshaping how companies approach AI infrastructure investment.

NVIDIA 的 Blackwell 平台正在成为人工智能推理领域的领导者，提供强大的性能和效率。 InferenceMAX v1 基准测试表明，价值 500 万美元的 NVIDIA GB200 NVL72 系统可以产生约 7500 万美元的代币收入，即 15 倍的投资回报率。这种回报正在重塑企业进行人工智能基础设施投资的方式。

Efficiency as the New Performance Metric

效率作为新的绩效指标

Throughput is no longer the only metric that matters. Efficiency metrics, such as tokens per watt and cost per million tokens, are crucial for profitability in large AI data centers. Blackwell delivers 10x more throughput per megawatt and cuts the cost per million tokens by 15x compared to the previous generation. Rubin CPX is designed for a split approach: Rubin CPX tackles the context-heavy front end while Rubin GPUs and Vera CPUs manage the generation phase. Nvidia's Dynamo software keeps the handoff smooth, moving data quickly between memory and compute so the system doesn’t stumble.

吞吐量不再是唯一重要的指标。每瓦特代币和每百万代币成本等效率指标对于大型人工智能数据中心的盈利能力至关重要。与上一代相比，Blackwell 每兆瓦的吞吐量提高了 10 倍，每百万代币的成本降低了 15 倍。 Rubin CPX 专为分离方法而设计：Rubin CPX 处理上下文繁重的前端，而 Rubin GPU 和 Vera CPU 则管理生成阶段。 Nvidia 的 Dynamo 软件可保持切换平稳，在内存和计算之间快速移动数据，因此系统不会出现故障。

The Role of Open Source and Software Optimization

开源和软件优化的作用

NVIDIA's collaborations with the open-source community, including OpenAI, Meta, and DeepSeek AI, have been instrumental in optimizing model performance. Software tweaks, like the TensorRT LLM library, further enhance performance by improving parallelization and boosting throughput.

NVIDIA 与 OpenAI、Meta 和 DeepSeek AI 等开源社区的合作在优化模型性能方面发挥了重要作用。软件调整（例如 TensorRT LLM 库）可通过改进并行化和提高吞吐量来进一步增强性能。

The Bitcoin and Gold Rush Parallels

比特币和淘金热的相似之处

The AI investment boom shares similarities with the recent surges in gold and Bitcoin values. Just as gold is seen as a safe haven during economic uncertainty, AI infrastructure is becoming an attractive alternative investment. This is fueled by the potential for high returns and the increasing adoption of AI across various industries. As the article in Deutsche Welle pointed out, Bitcoin's growth has been largely fueled by the re-election of Donald Trump as US president, whose outspoken support for cryptocurrencies is boosting confidence and demand in the sector, which is reminiscent of the trend seen with gold. Similarly, the AI sector's growth is fueled by the re-election of confidence of the AI sector.

人工智能投资热潮与近期黄金和比特币价值的飙升有相似之处。正如黄金在经济不确定时期被视为避风港一样，人工智能基础设施也正在成为一种有吸引力的另类投资。高回报的潜力以及各行业越来越多地采用人工智能推动了这一趋势。正如《德国之声》的文章指出的那样，比特币的增长很大程度上是由唐纳德·特朗普连任美国总统推动的，他对加密货币的直言不讳的支持正在提振该行业的信心和需求，这让人想起黄金的趋势。同样，人工智能行业的增长也得益于人工智能行业信心的重拾。

From Experiments to AI Factories

从实验到人工智能工厂

The AI industry is transitioning from experimental projects to full-scale AI factories. Benchmarks like InferenceMAX and frameworks like NVIDIA’s Think SMART are helping organizations choose the right hardware, control costs, and plan for service-level targets as their AI workloads expand.

人工智能产业正在从实验项目向全面的人工智能工厂转变。 InferenceMAX 等基准测试和 NVIDIA Think SMART 等框架正在帮助组织随着 AI 工作负载的扩展选择合适的硬件、控制成本并规划服务水平目标。

The Future of AI Investment

人工智能投资的未来

Rubin CPX is presented as both a technical advance and a financial opportunity, estimating that every $100 million invested in the platform could yield up to $5 billion in token revenue. That kind of return, if borne out in real deployments, would reset the benchmarks for AI investment.

Rubin CPX 既被认为是一项技术进步，也是一个财务机会，估计在该平台上每投资 1 亿美元可以产生高达 50 亿美元的代币收入。如果在实际部署中得到证实，这种回报将重新设定人工智能投资的基准。

So, are you ready to stake your claim in this new AI gold rush? With the right tools and strategies, the potential for striking it rich in the token economy is definitely within reach. Just remember to bring your pickaxe and a whole lot of compute power!

那么，您准备好在新的人工智能淘金热中大展身手了吗？有了正确的工具和策略，在代币经济中致富的潜力绝对是触手可及的。请记住带上你的镐和大量的计算能力！