[SMM Flash Puissance de calcul] Contrat à long terme H100 en Chine de l'Est coté à 87 000, franchissant la fourchette dominante

SMM has learned that five relocatable 910B4 units in east China are available for lease at a monthly rate of 20,000 yuan per unit on an annual contract, marking the highest relocatable quote for this model collected by SMM. This specification has now been quoted at 20,000 yuan for two consecutive batches, demonstrating clear price rigidity. During the same period, cloud resources for this model were priced at 15,000 yuan, making the relocatable option 5,000 yuan higher, a premium of approximately 33%. SMM believes that the delivery flexibility premium far outweighs the model specification difference, and locking in a one-year term still does not secure any price discount.

SMM has learned that two relocatable 910B3 units in east China are available for lease, with an annual lease monthly rent of 20,000 yuan per unit per month. Previously, the relocatable quote for this specification was 19,000 yuan, so this deal represents an increase of 1,000 yuan, or 5.3%. In the same region, the relocatable 910B4 is also quoted at 20,000 yuan, and the price spread between the two specifications has once again disappeared. SMM believes that the tiered pricing mechanism for domestic computing power by model has not yet stabilized, and the delivery method remains the primary pricing dimension; the annual lease terms did not bring any discount.

Today, only the H100 Yangtze River Delta index rose, with the highest monthly rental up 2.35% to 87,000 yuan and the average up 1.23% to 82,500 yuan. On the demand side: 16 H100 units for a 3-month short-term rental had a budget of 90,000 yuan and accepted H200 as a substitute (up 26.8% from the July budget). Another deal with a 100,000 yuan budget fell through due to lack of inventory, indicating that availability, not price, is the constraint on transactions. On the domestic side: relocatable 910B4/B3 annual rentals were both quoted at 20,000 yuan, a 33% premium over online prices with no term discount; the 910B1 online price of 16,000 yuan showed zero price spread with B2/B3.