[SMM Computing Power Midday Review] A100 Low-Price Clearance, Yangtze River Delta Replenishes 36,000

[Market Overview] Of the 19 indices collected this morning, 18 remained unchanged, with the only movement seen in the Yangtze River Delta A100-80G full servers. The low-priced Jiangsu supply that had dipped to 34,000 yuan in the previous trading session was cleared within a week, and transactions moved to the upper end of the 35,000-36,000 yuan range, completing the replenishment at the low end.

[A100 Yangtze River Delta: Lowest Price Replenished to 36,000] The lowest monthly rental rose from 34,000 yuan to 36,000 yuan, an increase of 5.9%; the lowest per-card hourly rate rose from 5.9 yuan to 6.25 yuan, an increase of 5.9%. The average monthly rental rose from 37,000 yuan to 38,000 yuan, an increase of 2.7%; the average per-card hourly rate rose from 6.42 yuan to 6.60 yuan, an increase of 2.8%. The highest price remained unchanged at 40,000 yuan. The lowest price and average price rose in tandem while the highest price held steady, indicating replenishment at the low end.

[Transaction Side: Cleared Within a Week] A Jiangsu-based channel party has fully rented out its A100 80G full-server monthly rental supply at a transaction price of 36,000 yuan/unit/month, with the entire process from listing to clearance taking just one week. The channel party stated that quotes for the same model are mostly in the 35,000-36,000 yuan range, and this transaction has reached the upper end of the range, corroborating the index replenishment to 36,000 yuan.

[Pro 6000D Western Region: Annual Rental at 36,000] Pro 6000D full servers in the western region are being offered for rent at a monthly rate of 36,000 yuan/unit/month, with a one-year minimum term, three months' deposit and one month's rent paid upfront, and delivery in November. Compared with the 32,000 yuan three-year closed-end all-inclusive deal for 256 units of the same model in the southwest on October 9, this is 4,000 yuan higher, an increase of 12.5%. The three-month deposit and one-month upfront payment represent the heaviest payment terms for this model, using a shorter lease term and heavier deposit requirements as a hedge.

[SMM View] First, A100 low-end supply was cleared within a week and replenished to 36,000 yuan. The 34,000 yuan level was a short-term, sporadic supply, and fluctuations in the low-price tier stem more from the entry and exit of individual batches of resources. Second, the lowest price and average price rose in tandem while the highest price did not break through, and the upward shift in the center remains constrained by the 40,000 yuan ceiling, with supply and demand in a tight balance rather than a shortage. Third, the Pro 6000D was quoted at a 12.5% premium with a shorter lease term and heavier deposit requirements, while the demand side has continued to show no response, and the additional deliveries in November will increase absorption pressure. Fourth, the replenishment of low prices for older cards and the firm quotes for restricted models are proceeding in parallel, with the divergence now extending to delivery terms.