SemiAnalysis H100 Daily and Contract Pricing Index (live page)#
| URL | https://gpu-index.semianalysis.com/ |
| Kind | Live index, not an article; also on Bloomberg as SAH100SC |
| Read | 2026-09-26; the latest value visible was April 2026 |
What it is (our words)#
An hourly composite of H100 rental prices. It is a weighted mean built to resist jumps from changes in the mix of listings, drawn from hyperscalers, neoclouds, marketplaces and aggregators, and blended with contract surveys the analysts run. B200, B300, GB200, GB300, H200 and AMD MI-series are also tracked. The RTX 5090 and RTX PRO 6000 are not.
Readings#
| Date | Series | Value |
|---|---|---|
| Apr 2026 | H100 spot–contract composite | ~$2.82/GPU-hr (range $2.79–2.83 since late 2025) |
| Apr 2026 | H100 1-year contract | $2.10–2.70/hr |
| Apr 2026 | B200 | ~$3.68/GPU-hr |
| 2023 peak | H100 | ~$6.62 |
Our notes#
This is our best early signal for the bubble-top scenario. The pattern to watch is H100 contract prices falling below the October 2025 floor ($1.70) while hyperscalers are still guiding capex up. That would mean demand is breaking before spending is cut. Memory and GPU prices would likely follow about two quarters later. Re-read the latest value whenever the projection is revisited.