# Ornn H100指数下跌引争议，SemiAnalysis指其数据失真

- 来源：SemiAnalysis (@SemiAnalysis_)
- 发布时间：2026-06-02 21:01
- AIHOT 分数：54
- AIHOT 链接：https://aihot.virxact.com/items/cmpwo1pkw04mgslsnr7z8ed43
- 原文链接：https://x.com/SemiAnalysis_/status/2061795397698277485

## AI 摘要

近期Ornn H100指数跌至2.63美元（-7.72%）令人困惑。但这主要因为该指数具有误导性。我们的H100小时价格已连续146天在2.70–3.01美元区间内波动。仅上月Ornn指数就经历了1.80→3.22→2.63美元的剧烈波动。

原因在于OCPI仅基于已成交交易构建。但数月来我们覆盖范围内H100按需实例已售罄。不存在连续的现货交易记录。剩余数据仅来自少数贡献者的双边交易残余。小样本量极易被扭曲。

## 正文

The recent Ornn H100 index drop to $2.63 （-7.72%） is confusing. But mostly because it's a misleading index. Our H100 hourly has been in a $2.70-$3.01 band for 146 straight days. Ornn's last month alone： $1.80 → $3.22 → $2.63.

Why？ OCPI is built only from printed transactions. But H100 on-demand has been sold out across our coverage for months. No continuous spot tape exists. What's left is a thin residual of bilateral trades from a narrow contributor set. Small N gets pushed around easily.