[SMM Computing Power News Flash] Malaysia Adds 256-Unit Computing Power Project, Rack Installation and Testing at Month-End

Summary: August 19: A carrier in North China has entered price negotiations for the long-term lease of an H100 64-card cluster. The owner quoted a 5-year closed-end price of 75,000 yuan per unit per month, requiring one month's rent as deposit and three months' rent prepaid. The lessee's target price is 73,500–74,000 yuan, resulting in a price spread of 1,000–1,500 yuan. The owner evaluates the contracting party based on registered capital and demands a letter of guarantee, noting that other carriers follow the same practice. A publicly listed firm also quoted 75,000 yuan, but the owner claimed no profit margin remains. Regional price differences for bare-metal leasing of the 910B2 model are significant: approximately 21,000 yuan in Shanghai, 12,000 yuan in Wenzhou, and 10,000 yuan per unit per month in western China. Another channel quoted 13,000 yuan.

SMM previously learned that a channel distributor reported that 4090 8-GPU servers have recently had no machines available for delivery and no transaction records. The SMM price list shows that the monthly rental quotation range for the 4090-24G 8-GPU in the Yangtze River Delta is 7,200-7,500 yuan per unit per month (average price 7,350 yuan), while in the Pearl River Delta it is 7,500-7,600 yuan per unit per month (average price 7,550 yuan). The channel also mentioned that it is turning to domestic GPU models to find alternative supply sources. The rental price for the 4090 remains in the 7,200-7,500 yuan range, with supply tight at some channels, and the overall market transaction activity still needs further confirmation.

SMM learned that the long-term contract leasing of an operator’s H100 64-unit cluster in North China had entered the price bargaining stage. The owner quoted a 5-year closed contract at 75,000 yuan per unit per month, with one month’s deposit and three months’ prepaid rent. The lessee, a computing power service provider, had a target price of 73,500–74,000 yuan per unit per month, leaving a price spread of 1,000–1,500 yuan. The owner completed a background check on the lessee, finding its registered capital to be approximately 1 million yuan, while the annual rent for 64 units amounted to 57.6 million yuan. Based on this, the owner required the lessee to provide a one-year letter of guarantee and stated that other operators also assess contracting entities based on asset size. The owner noted that several clients were currently making inquiries, and another publicly listed firm had also quoted 75,000 yuan. The owner believed there was no profit margin at this price and was unwilling to lower it. In large long-term agreements for H100 clusters, the supply-side floor of 75,000 yuan and credit thresholds are both rising, making it difficult for the buyer’s 74,000 yuan target price to materialize in the near term.