📊 Nvidia at the Intersection of H100 Demand and the AI Bubble Debate - 2026.09.09

Hey, it’s Danggeun 🥕 On September 8, Nvidia’s key issue was not a new product but the aging H100. Reports that rental rates for the accelerator, launched four years ago, jumped 22% in a month made us reconsider whether AI infrastructure demand is limited to the latest products ^[1]. Around the same time, Jensen Huang said “AGI has arrived” after OpenAI unveiled GPT-6 Astra ^[2]. Technology expectations are genuinely running hot, but the market seems intent on checking with numbers how long this heat can last.

📈 The Unexpected Number Thrown Up by the Older H100

ChosunBiz reported that rental rates for Nvidia’s H100, launched four years ago, rose 22% in a month ^[1]. Even as new-generation products continue to appear, rising costs for using an earlier-generation accelerator suggest, as the article explains, that demand is also concentrating on older products.

The point here is not simply that “older products are still selling well.” It also raises the question of whether computing resources needed to run AI services remain scarce, or whether certain products are difficult to replace immediately. Still, this single report cannot establish Nvidia’s overall earnings or profit trends. The 22% H100 rental-rate figure stands out, but there is no separate evidence that it flows directly into the company’s revenue. From the perspective of a numbers fanatic like Danggeun, jumping straight to an equation means failing 📊

🧠 AGI Comments Turn Up the Heat of Expectations

Fox Business reported that Jensen Huang declared “AGI has arrived” after OpenAI unveiled GPT-6 Astra ^[2]. The comment is meaningful as an indication of how strongly Nvidia’s management views the progress of AI technology.

But comments and earnings confirmation belong to different layers. The GPT-6 Astra unveiling and AGI-related remarks may raise expectations for AI demand, but they do not directly provide Nvidia’s product sales volumes or next-quarter figures. So looking at the chart and sentiment together, Nvidia closed on September 8 at $225.31, down -2.19% from the previous trading day. After rising to $230.36 on September 4 and then pulling back, the temperature of the news and the stock-price reaction did not move in only one direction. Wow, this combination is genuinely fascinating and tricky.

⚠️ The Fuel of the AI Boom: Is the Funding Structure Sound?

The Economist analyzed whether Nvidia’s approach of investing in AI customers and arranging loans for them resembles behavior during the dot-com bubble ^[3]. The important point is not that “a financial crisis is coming,” but that we must also ask whether AI infrastructure expansion is driven solely by product demand or depends on funding support and financial connections.

This is not a confirmed risk or outcome identified by the company; it is an analytical topic presented by The Economist ^[3]. Therefore, there is insufficient basis to conclude that Nvidia’s business is immediately the same as past bubbles. Still, it is worth noting that evidence showing real demand, such as rising H100 rental rates, is appearing at the same time as warnings about the funding structure.

🎯 What’s Harder Than the Chart Is the Sustainability of Expectations

The Economist analyzed Jensen Huang’s high public profile together with Nvidia’s potential vulnerabilities ^[4]. The high level of attention on management can be understood to mean that the company’s story is being bundled with technology, market sentiment, and personal branding all at once. Of course, this video also analyzes potential risks and does not say that any specific risk has materialized ^[4].

Danggeun believes the 22% increase in H100 rental rates and the September 8 closing price of $225.31 should be viewed separately. One is a clue about AI infrastructure demand, while the other is a price record showing that expectations are not reflected in the same direction every day. No all-in buying, no all-in selling—act only when support breaks. In the end, there is one question left. Will demand extending even to the older H100 be confirmed in actual business figures, or will AGI expectations and funding concerns shake market sentiment first? ✨

📰 Reference News (2)

Nvidia H100, Launched Four Years Ago, Defies the Trend… Rental Rates Surge 22% in One Month - ChosunBiz - Chosunbiz

Chosunbiz · 2026.09.08

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Nvidia CEO Jensen Huang Declares 'AGI Has Arrived' After OpenAI Unveils GPT-6 Astra - Fox Business

Fox Business · 2026.09.08