H100 rental prices are showing signs of a decline this week, approximately 19% lower than the October average.

TechFlow reports that on November 2, according to the GPU Economy Cloud GPU Price Index, the median on-demand rental price for the NVIDIA H100 this week was $3.39 per GPU per hour, based on 40 quotes from 38 service providers, which is approximately 19% lower than the monthly average of $4.20 in October. The average price from the beginning of November to date stands at $3.90.

From a long-term perspective, H100 rental prices remain up approximately 19.4% compared to October 2025. Data compiled by SemiAnalysis shows that the one-year contract price for the H100 rose from a low of $1.70 in October 2025 to $2.35 in March of this year, representing a gain of nearly 40%.

Signs of market cooling have recently emerged. Data from Compute Terminal indicates that H100 prices in the GPU trading market have fallen from around $2.48 in late October to $2.39. Additionally, Blackwell chip output is ramping up, leases signed between 2023 and 2024 are gradually expiring, and second-hand H100 and A100 GPUs are beginning to enter the market, all of which could exert downward pressure on prices.

However, inference demand continues to grow, while the H100 has been discontinued and its existing inventory is strictly decreasing. As a result, the market remains divided on whether GPU prices have already peaked.