diff --git a/litellm/proxy/common_request_processing.py b/litellm/proxy/common_request_processing.py
index 1269f58213a..a562a4cd101 100644
--- a/litellm/proxy/common_request_processing.py
+++ b/litellm/proxy/common_request_processing.py
@@ -237,6 +237,12 @@ async def create_response(
             with tracer.trace(DD_TRACER_STREAMING_CHUNK_YIELD_RESOURCE):
                 yield chunk
 
+    # Tell nginx/CDNs not to buffer streaming responses — without this,
+    # intermediary layers hold the entire response before forwarding it,
+    # making TTFB equal to total latency.
+    if media_type == "text/event-stream":
+        headers["X-Accel-Buffering"] = "no"
+
     return StreamingResponse(
         combined_generator(),
         media_type=media_type,
@@ -1318,7 +1324,7 @@ class ProxyBaseLLMRequestProcessing:
                 request_data=request_data,
             ):
                 verbose_proxy_logger.debug(
-                    "async_data_generator: received streaming chunk - {}".format(chunk)
+                    "async_data_generator: received streaming chunk - %s", chunk
                 )
                 chunk = await proxy_logging_obj.async_post_call_streaming_hook(
                     user_api_key_dict=user_api_key_dict,
@@ -1340,12 +1346,11 @@ class ProxyBaseLLMRequestProcessing:
                 elif isinstance(chunk, dict):
                     str_so_far += str(chunk.get("content", ""))
 
-                model_name = request_data.get("model", "")
-                chunk = (
-                    ProxyBaseLLMRequestProcessing._process_chunk_with_cost_injection(
+                if litellm.include_cost_in_streaming_usage:
+                    model_name = request_data.get("model", "")
+                    chunk = ProxyBaseLLMRequestProcessing._process_chunk_with_cost_injection(
                         chunk, model_name
                     )
-                )
                 yield serialize_chunk(chunk)
         except Exception as e:
             verbose_proxy_logger.exception(
diff --git a/litellm/proxy/proxy_server.py b/litellm/proxy/proxy_server.py
index 6796af09146..5e53dde1fb6 100644
--- a/litellm/proxy/proxy_server.py
+++ b/litellm/proxy/proxy_server.py
@@ -5278,6 +5278,11 @@ def _restamp_streaming_chunk_model(
         )
         model_mismatch_logged = True
 
+    # Short-circuit: model already matches — avoid the setattr and keep the object
+    # "clean" (not mutated), which is a prerequisite for any future JSON caching.
+    if downstream_model == requested_model_from_client:
+        return chunk, model_mismatch_logged
+
     if isinstance(chunk, dict):
         chunk["model"] = requested_model_from_client
         return chunk, model_mismatch_logged
@@ -5302,8 +5307,7 @@ async def async_data_generator(
 ):
     verbose_proxy_logger.debug("inside generator")
     try:
-        # Use a list to accumulate response segments to avoid O(n^2) string concatenation
-        str_so_far_parts: list[str] = []
+        str_so_far: str = ""
         error_message: Optional[str] = None
         requested_model_from_client = _get_client_requested_model_for_streaming(
             request_data=request_data
@@ -5315,21 +5319,22 @@ async def async_data_generator(
             request_data=request_data,
         ):
             ### CALL HOOKS ### - modify outgoing data
-            # Only compute str_so_far when callbacks are registered — joining
-            # the accumulated parts on every chunk is O(n²) otherwise.
+            # Extract chunk text once; pass into hook so it doesn't re-extract.
+            # Accumulate str_so_far AFTER the hook so the hook receives text
+            # from *previous* chunks (not the current one) in str_so_far.
             if litellm.callbacks:
+                chunk_str: Optional[str] = None
+                if isinstance(chunk, (ModelResponse, ModelResponseStream)):
+                    chunk_str = litellm.get_response_string(response_obj=chunk)
                 chunk = await proxy_logging_obj.async_post_call_streaming_hook(
                     user_api_key_dict=user_api_key_dict,
                     response=chunk,
                     data=request_data,
-                    str_so_far="".join(str_so_far_parts),
+                    str_so_far=str_so_far,
+                    response_str=chunk_str,
                 )
-
-            if litellm.callbacks and isinstance(
-                chunk, (ModelResponse, ModelResponseStream)
-            ):
-                response_str = litellm.get_response_string(response_obj=chunk)
-                str_so_far_parts.append(response_str)
+                if chunk_str is not None:
+                    str_so_far += chunk_str
 
             chunk, model_mismatch_logged = _restamp_streaming_chunk_model(
                 chunk=chunk,
diff --git a/litellm/proxy/utils.py b/litellm/proxy/utils.py
index 2c1a9beceff..23a49789230 100644
--- a/litellm/proxy/utils.py
+++ b/litellm/proxy/utils.py
@@ -2011,6 +2011,7 @@ class ProxyLogging:
         ],
         user_api_key_dict: UserAPIKeyAuth,
         str_so_far: Optional[str] = None,
+        response_str: Optional[str] = None,
     ):
         """
         Allow user to modify outgoing streaming data -> per chunk
@@ -2022,12 +2023,11 @@ class ProxyLogging:
         if not litellm.callbacks:
             return response
 
-        from litellm.proxy.proxy_server import llm_router
-
-        response_str: Optional[str] = None
-        if isinstance(response, (ModelResponse, ModelResponseStream)):
-            response_str = litellm.get_response_string(response_obj=response)
-        elif isinstance(response, dict) and self.is_a2a_streaming_response(response):
+        # Use pre-extracted string if caller already computed it to avoid re-extracting.
+        if response_str is None:
+            if isinstance(response, (ModelResponse, ModelResponseStream)):
+                response_str = litellm.get_response_string(response_obj=response)
+        if response_str is None and isinstance(response, dict) and self.is_a2a_streaming_response(response):
             from litellm.llms.a2a.common_utils import extract_text_from_a2a_response
 
             response_str = extract_text_from_a2a_response(response)
@@ -2037,6 +2037,10 @@ class ProxyLogging:
                     _callback: Optional[CustomLogger] = None
                     if isinstance(callback, CustomGuardrail):
                         # Main - V2 Guardrails implementation
+                        # llm_router import is deferred here to avoid a module-level
+                        # circular import AND to skip the lookup on every chunk when
+                        # no guardrails are registered.
+                        from litellm.proxy.proxy_server import llm_router
                         from litellm.types.guardrails import GuardrailEventHooks
 
                         ## CHECK FOR MODEL-LEVEL GUARDRAILS
@@ -2059,10 +2063,18 @@ class ProxyLogging:
                     else:
                         _callback = callback  # type: ignore
                     if _callback is not None and isinstance(_callback, CustomLogger):
-                        if str_so_far is not None:
-                            complete_response = str_so_far + response_str
-                        else:
-                            complete_response = response_str
+                        # Skip the await entirely when the callback doesn't override
+                        # async_post_call_streaming_hook — the base-class default just
+                        # returns None, so calling it is pure overhead.  This is the
+                        # common case for logging-only integrations (Datadog, OTEL, …).
+                        if (
+                            "async_post_call_streaming_hook"
+                            not in type(_callback).__dict__
+                        ):
+                            continue
+                        complete_response = (
+                            str_so_far + response_str if str_so_far else response_str
+                        )
                         callback_response = (
                             await _callback.async_post_call_streaming_hook(
                                 user_api_key_dict=user_api_key_dict,
@@ -2095,6 +2107,20 @@ class ProxyLogging:
                 yield chunk
             return
 
+        # Fast path: if no callback overrides the iterator hook or applies a
+        # guardrail, skip the wrapping entirely — most callbacks only use the
+        # per-chunk hook, not the full-iterator hook.
+        _needs_iterator_wrap = any(
+            "async_post_call_streaming_iterator_hook" in type(cb).__dict__
+            or "apply_guardrail" in type(cb).__dict__
+            for cb in litellm.callbacks
+            if isinstance(cb, CustomLogger) or isinstance(cb, CustomGuardrail)
+        )
+        if not _needs_iterator_wrap:
+            async for chunk in response:
+                yield chunk
+            return
+
         current_response = response
 
         for callback in litellm.callbacks:
diff --git a/litellm/utils.py b/litellm/utils.py
index 81e772b1765..6714c97b025 100644
--- a/litellm/utils.py
+++ b/litellm/utils.py
@@ -4967,7 +4967,18 @@ def get_response_string(response_obj: Union[ModelResponse, ModelResponseStream])
         response_obj.choices
     )
 
-    # Use list accumulation to avoid O(n^2) string concatenation across choices
+    # Fast path: single choice (overwhelmingly common for streaming proxy traffic).
+    # Avoids creating a list and calling join.
+    if len(_choices) == 1:
+        choice = _choices[0]
+        if isinstance(choice, StreamingChoices):
+            content = choice.delta.content
+            return str(content) if content is not None else ""
+        if isinstance(choice, Choices):
+            content = choice.message.content
+            return str(content) if content is not None else ""
+
+    # General path for multi-choice responses
     response_parts: List[str] = []
     for choice in _choices:
         if isinstance(choice, Choices):
diff --git a/tests/test_litellm/proxy/hooks/test_post_call_streaming_hook_integration.py b/tests/test_litellm/proxy/hooks/test_post_call_streaming_hook_integration.py
index d9e882072cd..825fbd4ca68 100644
--- a/tests/test_litellm/proxy/hooks/test_post_call_streaming_hook_integration.py
+++ b/tests/test_litellm/proxy/hooks/test_post_call_streaming_hook_integration.py
@@ -304,6 +304,114 @@ async def test_streaming_iterator_hook_fast_path_no_callbacks():
             assert chunk.id == f"chunk-{i}"
 
 
+@pytest.mark.asyncio
+async def test_streaming_hook_skips_await_for_non_overriding_callback():
+    """
+    Callbacks that don't override async_post_call_streaming_hook should be
+    skipped (no await) — the base-class default just returns None, so calling
+    it is pure overhead.  This covers logging-only integrations.
+    """
+
+    class LoggingOnlyCallback(CustomLogger):
+        """Overrides only log_success, not the per-chunk hook."""
+
+        def __init__(self):
+            self.hook_called = False
+
+        async def async_log_success_event(
+            self, kwargs, response_obj, start_time, end_time
+        ):
+            pass
+
+    logger = LoggingOnlyCallback()
+    assert "async_post_call_streaming_hook" not in type(logger).__dict__
+
+    with patch("litellm.callbacks", [logger]):
+        from litellm.caching.caching import DualCache
+        from litellm.proxy.utils import ProxyLogging
+
+        proxy_logging = ProxyLogging(user_api_key_cache=DualCache())
+
+        original_response = ModelResponseStream(
+            id="original-stream",
+            choices=[
+                StreamingChoices(
+                    delta=Delta(content="Hello", role="assistant"),
+                    index=0,
+                )
+            ],
+            model="test-model",
+        )
+
+        data = {"model": "test-model"}
+        user_api_key_dict = UserAPIKeyAuth(api_key="test-key")
+
+        result = await proxy_logging.async_post_call_streaming_hook(
+            data=data,
+            response=original_response,
+            user_api_key_dict=user_api_key_dict,
+        )
+
+        # Original response must be unchanged (hook was not awaited)
+        assert result is original_response
+        assert logger.hook_called is False
+
+
+@pytest.mark.asyncio
+async def test_streaming_hook_uses_pre_extracted_response_str():
+    """
+    When response_str is supplied by the caller, the hook must use it without
+    calling get_response_string again — the received text in the callback should
+    match what the caller passed in.
+    """
+
+    class CapturingLogger(CustomLogger):
+        def __init__(self):
+            self.received_text: str = ""
+
+        async def async_post_call_streaming_hook(
+            self,
+            user_api_key_dict: UserAPIKeyAuth,
+            response: str,
+        ):
+            self.received_text = response
+            return None
+
+    logger = CapturingLogger()
+
+    with patch("litellm.callbacks", [logger]):
+        from litellm.caching.caching import DualCache
+        from litellm.proxy.utils import ProxyLogging
+
+        proxy_logging = ProxyLogging(user_api_key_cache=DualCache())
+
+        original_response = ModelResponseStream(
+            id="original-stream",
+            choices=[
+                StreamingChoices(
+                    delta=Delta(content="actual chunk text", role="assistant"),
+                    index=0,
+                )
+            ],
+            model="test-model",
+        )
+
+        data = {"model": "test-model"}
+        user_api_key_dict = UserAPIKeyAuth(api_key="test-key")
+
+        # Pass pre-extracted response_str and a non-empty str_so_far
+        await proxy_logging.async_post_call_streaming_hook(
+            data=data,
+            response=original_response,
+            user_api_key_dict=user_api_key_dict,
+            str_so_far="previous text ",
+            response_str="actual chunk text",
+        )
+
+        # The callback receives str_so_far + response_str
+        assert logger.received_text == "previous text actual chunk text"
+
+
 @pytest.mark.asyncio
 async def test_streaming_hook_handles_exceptions():
     """
diff --git a/tests/test_litellm/test_utils.py b/tests/test_litellm/test_utils.py
index 35cb290fccd..573be7a795a 100644
--- a/tests/test_litellm/test_utils.py
+++ b/tests/test_litellm/test_utils.py
@@ -3599,3 +3599,43 @@ class TestValidateAndFixThinkingParam:
         validate_and_fix_thinking_param(thinking=thinking)
         assert "budgetTokens" in thinking
         assert "budget_tokens" not in thinking
+
+
+class TestGetResponseString:
+    """Tests for get_response_string, including the single-choice fast path."""
+
+    def test_single_streaming_choice(self):
+        from litellm.types.utils import Delta, ModelResponseStream, StreamingChoices
+        from litellm.utils import get_response_string
+
+        chunk = ModelResponseStream(
+            id="chatcmpl-1",
+            choices=[StreamingChoices(delta=Delta(content="hello"), index=0)],
+            model="gpt-4.1-mini",
+        )
+        assert get_response_string(chunk) == "hello"
+
+    def test_single_streaming_choice_none_content(self):
+        from litellm.types.utils import Delta, ModelResponseStream, StreamingChoices
+        from litellm.utils import get_response_string
+
+        chunk = ModelResponseStream(
+            id="chatcmpl-1",
+            choices=[StreamingChoices(delta=Delta(content=None), index=0)],
+            model="gpt-4.1-mini",
+        )
+        assert get_response_string(chunk) == ""
+
+    def test_multi_choice_streaming(self):
+        from litellm.types.utils import Delta, ModelResponseStream, StreamingChoices
+        from litellm.utils import get_response_string
+
+        chunk = ModelResponseStream(
+            id="chatcmpl-1",
+            choices=[
+                StreamingChoices(delta=Delta(content="foo"), index=0),
+                StreamingChoices(delta=Delta(content="bar"), index=1),
+            ],
+            model="gpt-4.1-mini",
+        )
+        assert get_response_string(chunk) == "foobar"