GPU prices rose 20–25% while token prices fell up to 80%

Smart Inference analyzed 11 million GPU rental price points and 3.3 million token prices from April to October. The median hourly price of H100 rose from $3.25 to $3.89, H200 from $4.00 to $5.02 and B200 from $6.11 to $7.42, while DeepSeek V4 fell 77% and GLM-5 dropped from $1.00 to $0.15 per million input tokens.

• H100 rose from $3.25 to $3.89 per hour, H200 from $4.00 to $5.02
• B200 climbed from $6.11 to $7.42 per hour; spot H100 from $1.04 to $1.81
• DeepSeek V4 fell 77%, GLM-5 from $1.00 to $0.15 per million tokens
• Spot A100 dropped from $1.07 to $0.88 per hour