**Strong demand for Blackwell B200 GPUs from frontier AI training workloads continues to support elevated on-demand rental rates, with current medians near $6.50–$8.00 per GPU-hour across providers and spot or community options dipping to $3.20–$3.75.** Supply remains constrained relative to hyperscaler and lab commitments, with recent price increases of 30–79% over prior months at some indices reflecting limited availability and long-term contract lockups. Providers like Nebius are raising rates to $8.50 effective October, while others list $6.69–$8.60; this dynamic creates uncertainty for end-of-November pricing as additional capacity ramps. Key swing factors include the pace of new deployments, any major model training announcements, and shifts in reserved versus spot availability that could push rates toward the $7.50–$9.00 range or allow moderation below $7.50.