Gavin Baker: DeepSeek's $38 per GPU hour may explain why Blackwell rental prices rose 17 days in a row

In a Yahoo Finance interview with Nvidia CEO Jensen Huang after GTC Berlin, Atreides Management's Gavin Baker said DeepSeek has disclosed it monetises inference at $38 per GPU hour, far above what anyone rents GPUs for, which he said may explain why Blackwell prices had risen 17 days in a row. Huang agreed and said strong demand is the precondition for solving neocloud financing and supply problems. He also said Nvidia GPUs can last seven to eight years and that Nvidia has guaranteed resale values in some financing deals. Baker puts the DeepSeek rate at about $100B of revenue per gigawatt a year; short seller Jim Chanos says SpaceX's own AI revenue is far lower.