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Same B300 rack: about $600k outside China, about $2.8M inside it. No wonder Chinese labs just rent offshore.
Now Nvidia is telling clouds that at least 51% of new capacity has to go to non-Chinese customers (via FT). Existing deals are grandfathered.
The ones I'd worry about are Asian neoclouds whose whole demand story is Chinese labs. One Singapore operator already says it's hard to find non-Chinese buyers outside the US. If they can't refill those racks, that's a lot of GPUs looking for tenants at once, and I'd expect rental prices in the region to crack.
Good time to be buying compute in Asia.