Sustained demand for H100 GPUs from large-scale AI training workloads continues to support elevated rental prices, with traders assigning the highest probability to the $3.25+ range by late November. Strong adoption of advanced large language models and expanding data center deployments have kept utilization rates high, while new hardware supply remains constrained by manufacturing lead times and power infrastructure limits. Recent reports on hyperscaler capex and ongoing model development cycles reinforce expectations that pricing pressure will persist through the month, though any acceleration in alternative accelerator availability or seasonal demand softening could still influence final levels.