The Token Spending Price Index further declined to 1.3136, continuing its downward trend since the end of May and hitting a new low since early March, suggesting that the pace of cash burn by AI companies continues to slow. This indicator has now given back a significant portion of its gains this year, gradually approaching levels seen at the end of last year.
Note: Token sales are currently a crucial source of monetization for the AI industry, and their price is one of the signals gauging the current supply and demand of computing power. If token prices remain high, cloud service providers will be motivated to purchase more GPUs and DRAM memory and expand data centers; conversely, a decline could indicate a "downgrade" in AI company spending, becoming a leading indicator of the end of this hardware boom cycle. Token price data is sourced from top global AI models such as OpenAI, Anthropic, and DeepSeek.
