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Equation 5 · The Economics and Physical Limits of Running AI Agents at Scale

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τ\tau

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τ\tau

Symbol τ

the add.

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Add τ\tau , δ\delta , and oˉ\bar{o} together and a single step is priced — which is exactly what a per-request cost estimate does, and exactly why it understates a loop. The fourth component, the one a single-step estimate cannot see, is everything the step has to carry forward from every step before it.

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