Per-Token Costs Are Far Below Their Intelligence Value, but the Arbitrage Window Will Close
tengyanAI · x · 2026-07-04
Observers note a massive arbitrage opportunity between the low production cost of AI tokens and the high intelligence value they generate, leading to seemingly infinite market demand. Like all arbitrage, this gap will eventually close, though the exact timeline remains uncertain. This dynamic offers a key perspective on the underlying logic of the AI industry's current explosive growth.
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