Microsoft Tracked GPU Rental Prices Better Than the Companies That Rent Them Out

The H100 rental index reported by Ornn Data hit a three-month high near $3.57 an hour on October 27, up 25 percent since September 25, while CoreWeave fell 32 percent and Nebius fell 28 percent over the same stretch. A rental-price spike now reads as a balance-sheet warning for the leveraged neoclouds, not a revenue tailwind.