Token在暴增，利润为何「困」在英伟达？
Quick Answer
Despite a surge in Token usage, with daily calls exceeding 180 trillion, profits remain concentrated with Nvidia, which reported $81.6 billion in revenue and a 74.9% gross margin.
Quick Take
In contrast, OpenAI faced a staggering $9.3 billion operating loss, highlighting the structural challenges in the AI industry where costs are dominated by upstream hardware.
Key Points
- Nvidia's Q1 revenue reached $81.6 billion, up 85% year-over-year.
- OpenAI reported a staggering $9.3 billion operating loss in the same quarter.
- Token economy's daily usage skyrocketed to over 180 trillion calls.
- HBM and GPU manufacturers are currently experiencing record profits.
- The AI industry faces a structural dilemma with profits not flowing downstream.
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