The only thing that diminishes the value of a GPU right now is unsupported features with outsized value during inference and/or training (like FP4 support) and it takes time for those features to actually take off

And labs are fully leaning into pricing for intelligence, so their margins are improving very quickly (which allows them to pay even more for existing compute)

I'd be shocked if current prices aren't the bottom for the next 18-24 months.