Hyperparameter tuning is essential to achieving state-of-theart accuracy in machine learning (ML), but requires substantial compute resources to perform. Existing systems primarily focus on eectively allocating resources for a hyperparameter tuning job under xed resource constraints. We show that the available parallelism in such jobs changes dynamically over the course of execution and, therefore, presents an opportunity to leverage the elasticity of the cloud.In particular, we address the problem of minimizing the nancial cost of executing a hyperparameter tuning job, subject to a time constraint. We present RubberBand-the rst framework for cost-ecient, elastic execution of hyperparameter tuning jobs in the cloud. RubberBand utilizes performance instrumentation and cloud pricing to model job completion time and cost prior to runtime, and generate a cost-ecient, elastic resource allocation plan. RubberBand is able to eciently execute this plan and realize a cost reduction of up to 2x in comparison to static allocation baselines.CCS Concepts • Computing methodologies → Distributed computing methodologies; Machine learning.