TheStreet / Bank of America Research
Aug 12, 2026
bullish
BofA puts GPU spot prices near all-time highs ahead of Nvidia earnings
In an August 7 research note covered by TheStreet, Bank of America analyst Vivek Arya reported H100 spot rental at approximately $2.80/hr and B200 spot at approximately $5.66/hr, describing GPU spot prices broadly as sitting near all-time highs even for older silicon. Arya cited the data as evidence of sustained real AI demand, naming Nvidia his top sector pick ahead of fiscal Q2 FY2027 results on August 26.
Bloomberg
Sep 10, 2026
bullish
Microsoft plans to more than triple data center capacity after shortages forced it to turn away AI business
Bloomberg reported on September 10 that Microsoft is planning for 38 gigawatts of data center capacity, a more-than-tripling of its current footprint. The company disclosed that compute shortages had already forced it to turn away some AI and cloud business, providing a direct demand-side signal for why rental rates remain elevated.
The Silicon Data index reflects a market in mild but uneven recovery after a soft 30-day period for H100. The SDH100RT sits at $2.64/hr, down 3.6% over 30 days but showing early stabilisation with a +0.8% 10-day uptick — consistent with Bank of America's August spot-price read of ~$2.80/hr across the broader market, suggesting the SDH100RT neo-cloud tier trades at a modest discount to the spot composite. The SDB200RT at $5.68/hr tells a different story: up both 10d (+1.1%) and 30d (+1.4%), aligning closely with BofA's B200 spot benchmark of ~$5.66/hr and reflecting continued supply tightness on Blackwell. The two tickers are diverging on a 30-day basis — H100 softening as Blackwell availability widens, B200 holding firm — a pattern consistent with the H100 transitioning toward a value-tier role while B200 commands a structural premium. Microsoft's disclosure yesterday that capacity shortages have forced it to turn away AI business adds a demand-side floor argument: near-term supply constraints remain real even as longer-run buildout accelerates, which limits how far H100 rates can fall before absorption re-tightens the market.