PitchBook：2026年机器经济：无限认知市场（上篇）（英文版）

What the machine economy is• The machine economy is a market in which AI agents discover, transact, and generate value with little to no human involvement.• Value can be measured from three broad layers: existing software and labor spending rotating to agents, the infrastructure agents consume to operate, and net new value from an agent-only market that did not previously exist.• The market expands as intelligence becomes cheaper and more capable, allowing agents to do previously une