TechFlow reports, July 3, according to TechFlow Research, JPMorgan's July 1 Data Center Observation Report shows that OpenRouter platform LLM token usage increased 70% month-over-month and 20 times year-over-year in June, prices rose slightly month-over-month, down only 5% year-over-year, US models accounted for 85% of spending. GPU rental prices from non-cloud providers continued to rise across the board, A100 up 6.3%, H100 up 3.7%, B200 up 2.7%, B200 premium over H100 decreased from 2.58 times to 1.96 times.
DRAM spot prices rose 10% in June, up 740% year-over-year, rising for three consecutive months; NAND down 0.3% month-over-month, falling for three consecutive months, but still up 518% year-over-year. These three data points indicate sustained strong demand for AI infrastructure, but narrowing high-end premiums and early NAND loosening suggest the cycle logic is shifting gears.
