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SMM learned that on September 29, an intermediary channel publicly listed online for rent 45 H200 SXM 141G full units (8-card configuration), with the data center located in Yunnan, at a quoted price of 157,000 yuan/unit/month, closed-mouth three-year term, spot cargo available for testing. The quoted price was based on public listing standards and came from an intermediary channel rather than being directly reported by the machine owner; SMM analysis indicates that after deducting intermediary fees, the corresponding owner-side price is approximately 150,000 yuan/unit/month. The long-term contract quotes for the same model recently collected by SMM are lower than this level, placing this listing price in the higher range. Meanwhile, the 45 full units represent one of the larger single-batch H200 spot cargo releases on public channels recently, and the final transaction outcome remains to be followed up.

On September 29, price collection signals concentrated at both ends of the price spectrum. On the consumer-grade end, two quotes for the 5090 full system appeared on the same day—3 units in Hubei for short-term rental at 14,500 yuan/unit/month and 128 units in Qinghai for annual rental at 14,800 yuan/unit/month, both above the late-August one-year closed long-term contract level of 13,000 to 13,300 yuan. On the high-end side, 64 H200 full systems were transacted in Guangdong under a three-year closed contract at 135,000 yuan/month/unit, approximately 15% higher than the mainstream long-term contract range of 116,000 to 117,000 yuan, marking the highest transaction price in the H200 long-term contract series.

SMM learned that a computing power service provider quoted a batch of 5090 complete machines on September 29: 128 units of spot cargo, each configured with 2T memory, located in a data center in Qinghai, at a price of 14,800 yuan/unit per month, with leases starting from one year and a preference for three-year fixed-price contracts, supporting on-demand splitting.