[SMM Computing Power Flash] GPU prices surged sharply, and a platform under a publicly listed firm withdrew a computing power subletting business.

SMM has learned that a certain channel has released 6 B200 eight-card servers with leases for sale. Each unit is configured with 8 B200 NVLink GPUs, equipped with dual Intel Xeon 6960P processors, 3TB of DDR5 memory, and 8 ConnectX-7 single-port 400G IB cards, belonging to the high-bandwidth training model. The lease term for this batch runs until February 2027, with the quoted monthly rent per unit at 100,000 yuan. The sale-with-lease model is adopted, where after the buyer takes over, the rent, after deducting cabinet and electricity costs, belongs to the buyer. Such second-hand circulating resources with confirmed leases provide buyers with computing assets that can immediately generate rental returns. The sale-with-lease model transfers stable rental cash flow to the buyer upfront, reflecting the increased activity in the B200 second-hand circulation market.

SMM has learned that a computing cluster in east China plans to deploy 128 NVIDIA H200（HGX version）servers, with a monthly rent quoted at 120,000 yuan per unit under a three-year long-term agreement. These resources are expected to be online within 6–7 weeks. Each machine is equipped with 32 sticks of 64GB DDR5 memory. As NVIDIA's new-generation high-end training and inference chip, the H200 currently sees a tight market supply, and the batch entry of these resources will provide a phased supplement to the high-end computing supply in east China.

Benefiting from the explosion of demand from AI intelligent computing centres, the "East Data, West Computing" initiative, and transoceanic submarine cables, the upstream optical fibre preform expansion cycle takes 18-24 months, leaving industry capacity supply tight, and fibre optic prices have been continuously raised significantly in 2026. Hollow-core fibre and ultra-low-loss G.654E high-end fibre are rigid demand for computing power backbones, and top-tier players have locked in orders through long-term agreements until 2028.