**Strong sustained demand for high-memory Hopper GPUs amid constrained HBM3e supply and gradual Blackwell ramp-up is anchoring trader consensus around elevated H200 rental rates through late October.** Current on-demand medians sit near $4.50–$4.60 per GPU-hour across specialist providers, with marketplace listings as low as $2.60 on platforms like Vast.ai but broader averages holding firmer due to AI inference and training workloads favoring the 141 GB HBM3e capacity. Recent stability, including a modest September dip in some indices offset by selective provider increases such as Nebius, plus limited new capacity additions before month-end, supports the leading $5.50+ implied probability of 43.9% and the combined high-end buckets. Hyperscaler premiums and export or packaging bottlenecks continue to limit downside, though spot and reserved options introduce volatility that traders monitor for any last-minute supply signals.