The 37x Valuation Gap 📊
$VVV is trading around $25, putting Venice at a $1.2B market cap.
What interests me more than the price is the economics behind it.
Venice uses 5% of purchased API credits to buy and burn VVV. That gives growing inference spending a measurable connection to token supply, rather than relying entirely on market sentiment.
But every inference request also needs physical compute.
That's why I've been looking at $B3 , valued at roughly $33M, nearly 37x smaller than VVV.
B3IQ operates a customer-owned neocloud. Customers own the NVIDIA machines while B3 handles hosting, operations and finding demand for available capacity.
When those GPUs are rented, B3IQ earns 15% of realized rental revenue, while owners receive 85% before hosting costs.
Of course, business revenue isn't automatically token revenue, and the valuation gap alone doesn't make B3 undervalued.
But I think the comparison raises an interesting question.
If inference is becoming a billion-dollar market, how much will investors eventually value the infrastructure producing it?
For me, that's one of the more interesting parts of the AI trade that still deserves attention.
#AI #DePIN
$VVV is trading around $25, putting Venice at a $1.2B market cap.
What interests me more than the price is the economics behind it.
Venice uses 5% of purchased API credits to buy and burn VVV. That gives growing inference spending a measurable connection to token supply, rather than relying entirely on market sentiment.
But every inference request also needs physical compute.
That's why I've been looking at $B3 , valued at roughly $33M, nearly 37x smaller than VVV.
B3IQ operates a customer-owned neocloud. Customers own the NVIDIA machines while B3 handles hosting, operations and finding demand for available capacity.
When those GPUs are rented, B3IQ earns 15% of realized rental revenue, while owners receive 85% before hosting costs.
Of course, business revenue isn't automatically token revenue, and the valuation gap alone doesn't make B3 undervalued.
But I think the comparison raises an interesting question.
If inference is becoming a billion-dollar market, how much will investors eventually value the infrastructure producing it?
For me, that's one of the more interesting parts of the AI trade that still deserves attention.
#AI #DePIN