LLM Token Usage and GPU Rental Prices Both Surge in June, Says JPMorgan Chase

According to JPMorgan Chase's Data Center Watch report on July 1, LLM token usage on the OpenRouter platform surged 70% month-over-month and 20-fold year-over-year in June, with prices rising only 5% year-over-year despite increased consumption. U.S. models captured 85% of total consumption spending.

Meanwhile, GPU rental prices across non-cloud providers advanced across the board: A100 increased 6.3%, H100 rose 3.7%, and B200 climbed 2.7%, indicating sustained strength in AI hardware demand.