Tokens get cheaper while GPUs get pricier: H100 rental up ~30% since March
julsimon · x · 2026-09-28
julsimon runs the numbers: buying tokens is getting cheaper, renting GPUs is getting more expensive.
Per million output tokens (falling):
- Anthropic Claude Sonnet 5: $15 → $10 (Aug)
- xAI Grok 4.20: $6 → $2.50 (Jul)
Per GPU-hour since March (rising):
- RunPod H100 SXM: $2.69 → $3.49
- Lambda H100 SXM: $3.44 → $3.99
- AWS and Google Cloud: flat
Takeaway: model vendors are cutting per-token prices while the GPU rental market keeps raising rates on demand.
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