NVDA Stock Ticks Higher Overnight: a16z Data Shows GPU Rental Prices Rising Sharply, Even For Older Chips

• Nvidia’s H200 GPU rental prices have surged 160% year-to-date.
• Rental rates for older H100 and A100 chips have also risen, defying the typical depreciation curve.
• NVDA shares are down 7.6% this month as concerns over AI infrastructure spending and debt-heavy neocloud business models weigh on the sector.

Nvidia (NVDA) GPU rental prices have surged this year, with rates for its H200 chips climbing 160% and those for B200 chips rising 120% since January, according to venture capital firm Andreessen Horowitz (a16z).

NVDA stock was up 0.2% in overnight trading ahead of Monday, after declining 1.5% last week.

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Rental prices for Nvidia’s RTX PRO 6000 workstation GPUs have increased approximately 65%, while those for H100 chips have risen 35%, a16z said in a blog post on Friday, citing data from Ornn Data. Even the six-year-old A100 GPUs cost more to rent than they did at the start of the year.  

Normally, a GPU is expected to lose value over time, depreciating steadily over its six-year useful life. A16z’s research suggests GPUs are holding their value much better than expected, another key signal of strong demand for computing power. 

The H200 and H100 belong to Nvidia’s Hopper generation, while the B200 is part of its newer Blackwell generation. The RTX PRO 6000 is a Blackwell-based workstation GPU, while the A100 belongs to the older Ampere generation.

 

A16z noted that rental prices across every GPU model it tracked were 9% to 143% higher than they would have been under a straight-line depreciation model, which assumes a six-year useful life.

AI Cloud Consumption Strong, But Stocks Face Selloff

Token consumption data from OpenRouter, which tracks requests to both open-source and proprietary AI models, shows usage climbing sharply since the spring, with another jump in the latest reading, a16z said. The firm cautioned that the data provides only a partial view of overall AI demand.  

The findings come as AI-linked stocks have faced a sharp selloff over the past two weeks, with investors questioning the sustainability of massive AI infrastructure spending and the ability of debt-heavy data center operators to generate adequate returns. Neocloud providers, including CoreWeave (CRWV) and Nebius Group (NBIS), have been among the hardest hit.  

Nvidia shares have also come under pressure, with the stock down 7.6% so far this month. Apple, riding the momentum from the launch of the iPhone Duo and iPhone 18 Pro lineup, overtook Nvidia last week to become the world’s most valuable company.

Retail View On NVDA

On Stocktwits, the retail sentiment for NVDA gained over the past week and was ‘bullish’ as of early Monday.

The shift also came as billionaire entrepreneur Elon Musk said SpaceX (SPCX) had secured $40 billion in debt to buy GPUs and expand its AI data centers.

“$NVDA Musk secured the $40 billion in financing needed to buy NVIDIA chips. So what’s the big deal, let’s go to $300 already.,” a trader wrote.

NVDA closed at $210.96 on Friday and is down 7.6% so far this month.

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