[SMM Computing Power Express] 64 H100 Eight-GPU Servers in North China Available for Lease, Monthly Rent 75,000, Four-Year Closed-Mouth Term

From early July to Aug 17, the SMM compute leasing price index diverged: western China's Ascend 910B-64G fell 21.4% to 13,750 yuan/unit/month; Yangtze River Delta's NVIDIA H100-80G rose 8.9% to 79,500. Training still depends on NVIDIA high-end GPUs; inference is shifting to domestic chips.

Since Jul 2026, Chinese computing providers are shifting from GPU leasing to token billing—some call leasing "a side business." Leasing margins shrink under public price anchors (4090 8-GPU: CNY 7,200/mo) and broker markups; DeepSeek's Aug 17 API hike (3-5x) widens reseller spreads; daily token calls hit 140T in Mar 2026, up 1,000x in 2 years. SMM: margin recovery, not substitution—high-end GPU leasing stays tight; converts: small IDCs, resellers, hyperscalers.

SMM learned that the server subleasing model continued to prevail in the market. Procurement prices for NVIDIA GPU servers fluctuated at highs and lacked a price anchor, with the procurement price of 5090 fan cards approaching 40,000 yuan per unit. Many new entrants to the computing power leasing sector shifted toward integrating existing resources rather than purchasing additional hardware. SMM believed that the lack of an anchor for procurement prices was forcing the supply side to activate existing capacity through subleasing, and that the industry had entered a phase of competition over existing resources.