Interestingly, the public market is positioned in the opposite direction, with neocloud names trading like the cycle is about to roll over. Our read, which we l
The GPU rental market is experiencing a significant squeeze, contrary to public market sentiment. Rental prices for NVIDIA H100 GPUs are projected to increase by 40% from October 2025 to March 2026, with further increases expected in early 2026. This scarcity is driven by agentic AI demand, which has made token spend a substantial cost, leading to inelastic demand and a tight rental market. Lead times for Blackwell GPUs have also extended into mid-2026, indicating ongoing supply constraints. AI
IMPACT Confirms compute scarcity as a binding constraint, potentially accelerating enterprise adoption of agentic AI frameworks.