The app layer captures the most value; users of Nvidia beat Nvidia
Agents Unleashed - Progress In The Decentralized AI Stack (Training, Fine-Tuning, Inference) (Olas)
“The app layer absolutely captures the most value — it’s ridiculous to say that any other layer does… it really comes down to: does the product work or not… $2 H100s, beat that… A company that’s going to use Nvidia is going to be a lot more valuable than Nvidia.” — 00:33:03
Context: Answering where value accrues in the decentralized AI stack; infrastructure competes on working product and price, apps capture value (Nvidia line is at ~00:33:44).