更便宜的 AI token 推动需求增长，正合黄仁勋心意
原标题：Cheaper AI tokens are driving more demand, and that's Jensen Huang's best-case scenario
AI 摘要
THE DECODER 报道称，Ornn、Silicon Data 和 Bloomberg 截至 2026 年 8 月的数据显示，AI 市场出现 a16z 所称的教科书式杰文斯悖论：token 价格持续下降，但 H100 GPU 租赁价格保持稳定甚至上涨。更便宜的 token 解锁了 AI 智能体、自动化和新应用，使使用量增长快于单位成本下降。整个体系依赖一个假设——AI 使用量增长必须足够快以抵消 token 价格下跌；若需求走平，从芯片制造商、内存供应商到能源和云厂商的链条都将受冲击。
正文节选
Cheaper AI tokens are driving more demand, and that's Jensen Huang's best-case scenario Jevons' paradox is Jensen's best friend. Data from Ornn, Silicon Data, and Bloomberg (as of August 2026) shows what a16z calls a textbook Jevons paradox in the AI market. Token prices keep dropping, but H100 GPU rental prices hold steady or climb. Cheaper tokens unlock AI agents, automation, and new applications, so volume grows faster than per-unit costs fall. How much demand comes from humans versus the sys