this post was submitted on 08 Jul 2026
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The fundamental lie behind the AI fraud is that compute is scarce relative to demand. OpenAI, Grok, Meta did overinvest in hoarding GPUs far ahead of their usage. Last 2 are now competing on hourly GPU market, and AI tokens/revenue has fallen 20% since spring peak, which is a bubble pop compared to 10x/year perpetual growth expectations behind the hoarding. While hourly gpu rental market is stable rather than declining, it is stable at very low prices, mostly for accounting reasons of not actually losing money intentionally. Deployed GPUs are abundant proven by accounting floor based pricing. A b300 can deliver 8x the tokens of an h200 but only rents for 2x more.
AFAIK, it's not "confirmed", but there's supposed to be warehouses full of GPUs, RAM, and storage that were pre-bought for datacentre usage, but they still have nowhere to plug them in.
For last 5 quarters, Nvidia has sold much more GPUs than get installed. On 3 year depreciation schedule, 8xh200s are $1.50/hour per card just sitting there. B200s are $2/hr. (Nvidia changes network cable each generation). Very expensive to do what you are suggesting is happening, but only other explanation is smuggling into China, or secret sovereign/military purchases.
It's also possible that they are lent to tier 2/3 datacenters in revenue share deals.