INSTANCE_NAME will be the name of your VM. It will be also displayed on the Google Cloud Platform. I chose a name which will remind of the specifications chosen. You can choose whatever name you like, as long as it there is no other VM/instance with the same name.
--zone: You can pick which ever zone suits you best from the following list. However, note that not every zone provides GPUs or that some zones provide only a subset of all availble GPU types. For more info which GPU can be found on which zone have a look here. Also note that the prices might vary from zone to zone. I picked us-central1-c simply because it provides all GPU types and belongs to the cheapest zones.
--image-family: tf-latest-cu92 installs the latest Tensorflow GPU version. You can specify a specific version as well: tf-VERSION-cu92 (e.g. tf-1-8-cu92). Other possible images are listed up here.
--image-project: this must be deeplearning-platform-release
--maintenance-policy: must be TERMINATE
--accelerator: here we specify the GPU type to use. The format is 'type=TYPE,count=COUNT'. More info regarding available types here.
--machine-type: here we specify the CPU and memory. There are standard machine types and high-memory machine types. All possible types can be found here.
--metadata: here we specify that the NVIDIA driver should be installed via install-nvidia-driver=True. With this flag it may take up to 5 min until the VM is fully provisioned.