[Academician of the Chinese Academy of Engineering Zheng Weimin: In the era of intelligent agents, the ability to produce stable and low-cost Tokens is extremely scarce] On July 19, Zheng Weimin, an academician of the Chinese Academy of Engineering and a professor in the Department of Computer Science and Technology at Tsinghua University, stated at the Agentic Era AI Infrastructure Innovation and Development Forum that the rapid expansion of computing power does not equate to efficient Token production capacity. In the era of intelligent agents, what is truly scarce is not just chips but the system capability to stably produce Tokens at low cost and high quality. Tokens are transitioning from technical metrics to core production factors in the industry, and inference systems are evolving from single-machine optimization to distributed, cached, heterogeneous, and service-oriented architectures.