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An H100 is worth more today than it was when it was new, because the models it runs got better faster than its replacements arrived.

Drawn from what Dylan Patel said

What these subjects mean

semiconductors The chips and the companies that make them: NVIDIA, TSMC, ASML, and what a fab can and cannot do.

scaling laws Whether more compute keeps buying more capability, and where the curve now bends -- pre-training, post-training, test-time.

What Dylan Patel actually said

  1. Dylan Patel Founder and chief executive of SemiAnalysis
    if improvement stopped you know here the value of an H100 is now predicated on the value that GPD 5.4 four can get out of it instead of the value that GP4 can get out of it and the margins and all that stuff that these labs are doing and they're in a competitive environment so their margins can't go to infinity. Um so you sort of have this like dynamic that is quite interesting in that an H100 is worth more today than it was 3 years ago.

Added to korrents 7 Sept 2026 · How quotes work · Something wrong? Tell us

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