[JPMorgan: AI Token Spending Up 7% Monthly, B200 Leasing Drops 1.5% for the First Time, DRAM Spot Prices Rise for Five Consecutive Months] Deep Tide TechFlow reports, according to Tide Research, JPMorgan's August 28 research note indicates that token volume on the OpenRouter platform increased 47% month-over-month and 28 times year-over-year, while spending rose 7% month-over-month and 12 times year-over-year. Volume-weighted average pricing dropped 28% month-over-month, with low-cost models like GPT-5.6 Luna contributing approximately 99% of the growth. In the GPU leasing market, A100 remained steady at $1.65/hour, H100 rebounded to $2.73 (+1.2%), and B200 dropped 1.5% month-over-month to $5.63, marking the first monthly decline since the index was launched in September 2025. DRAM spot prices have risen for five consecutive months, with DDR5 16Gb reaching $50.20 (+6% monthly, +880% annually). NAND ended its four-month decline, with 1Tb priced at $30.50 (+14% monthly, +470% annually). JPMorgan believes that AI computing power demand continues to expand, but structural changes on the supply side are reshaping pricing logic. Closed-source and open-source models are growing simultaneously, with low-cost models capturing market share while high-cost models contribute the majority of revenue. The price drop for B200 reflects increased production capacity for next-generation GPUs, while the rebound in H100 indicates resilient demand for the previous generation. DRAM and NAND are both strengthening, with the crowding-out effect of HBM on DRAM capacity persisting, providing positive support for equipment suppliers.