fp4

Three things change at once: dense compute more than doubles with an fp4 tensor core, HBM3e reaches 8 TB/s, and NVLink stops at 72 GPUs instead of 8. Work through what each does to tensor-parallel degree, per-step weight reads and expert placement for a 671B-parameter mixture of experts.

Four bits give eight magnitudes per sign, and the largest step between them is 50%. Block scaling rescues most of the tensor; a single outlier in a block of sixteen flushes its neighbors to zero. Where the precision goes, which layers fail first, and the measurements that separate acceptable from broken.

Decode throughput is bytes per step over bandwidth, price is dollars per hour, so tokens per dollar for a 70B falls out of a spec sheet in ten lines. In bf16 the three generations are within 10% per dollar; fp8 pulls the H100 ahead, and fp4 on the B200 doubles it again. The chain, the table and the caveats.