We propose Guided Speculative Inference (GSI), a novel algorithm for efficient reward-guided decoding in large language models. GSI combines soft best-of-$n$ test-time scaling with a reward model $r(x,y)$ and speculative samples from a small auxiliary model $π_S(y\mid x)$. We provably approximate the optimal tilted policy $π_{β,B}(y\mid x) \propto π_B(y\mid x)\exp(β\,r(x,y))$ of soft best-of-$n$ under the primary model $π_B$. We derive a theoretical bound on the KL divergence between our induced distribution and the optimal policy. In experiments on reasoning benchmarks (MATH500, OlympiadBench, Minerva Math), our method achieves higher accuracy than standard soft best-of-$n$ with $π_S$ and reward-guided speculative decoding (Liao et al., 2025), and in certain settings even outperforms soft best-of-$n$ with $π_B$. The code is available at https://github.com/j-geuter/GSI .

In order to sample from an unnormalized probability density function, we propose to combine continuous normalizing flows (CNFs) with rejection-resampling steps based on importance weights. We relate the iterative training of CNFs with regularized velocity fields to a JKO scheme and prove convergence of the involved velocity fields to the velocity field of the Wasserstein gradient flow (WGF). The alternation of local flow steps and non-local rejection-resampling steps allows to overcome local minima or slow convergence of the WGF for multimodal distributions. Since the proposal of the rejection step is generated by the model itself, they do not suffer from common drawbacks of classical rejection schemes. The arising model can be trained iteratively, reduces the reverse Kulback-Leibler (KL) loss function in each step, allows to generate iid samples and moreover allows for evaluations of the generated underlying density. Numerical examples show that our method yields accurate results on various test distributions including high-dimensional multimodal targets and outperforms the state of the art in almost all cases significantly.