[SMM Computing Power Flash] Short-Term Rental Demand for Ascend 910B Emerges in North China, Single-Unit Two-Month Offline Deployment

August 13: H200 pricing was clearly stratified—newly built 4-5-year long-term contracts were quoted at 116,000-117,000 yuan per unit per month, 1-2-year short-term rental quotes pushed up to 120,000+ yuan, and the intermediary market was bid up to 137,000 yuan per unit per month; east China also had 32 spot H200 units offered for three-year closed-end rental at 128,000 yuan per unit per month; in Ningbo, intermediaries quoted 45 spot 4090 units at 8,500 yuan per unit per month, and the source owner confirmed the units were its own resources and said, "Asking prices are useless; only transactions matter"; over the same period, the actual transaction price for 4090 in Shanghai was 7,200 yuan per unit per month; in north China, 3 Atlas 800I A2 units (910B4 64

SMM learned that a compute cluster in east China released 32 spot H200 servers at a monthly rent of 128,000 yuan per unit under a three-year fixed-price contract. Each unit is a Supermicro H200 with an HGX 8-card module, an Intel 8558 processor, 32 × 64GB 5600 memory modules, a 960GB NVMe system drive, 2 × 3.84TB data drives, and 8 single-port 400G network interface cards. SMM believes that the entry of eight-card H200 spot servers into the market under three-year fixed-price contracts reflects growing demand for price lock-in among high-end models.

SMM learned that a high-power data center in North China rated T3 or above was newly launched in August, offering high-power cabinet colocation services: 42U 7 kW high-power cabinets at 6,300 yuan/month, and 10 kW high-power cabinets at 9,000 yuan/month. These resources are high-power-density cabinets, suitable for GPU servers and other high-power computing equipment. SMM believes that the expansion in high-power cabinet supply reflects relatively favorable market expectations in the North China IDC colocation segment.