Token Surge Truth: NVIDIA's Moat Becomes a Profit Black Hole for AI Vendors

The most valuable insight from this article is: Token call volumes have surged a thousandfold, but the vast majority of profits are locked in by NVIDIA's hardware and ecosystem, rather than by LLM vendors or cloud service providers. As an engineer who deals with model deployment and inference optimization daily, I'll try to break down this predicament from a practical implementation perspective.