[SMM Computing Power Flash] 32 units of H100 spot in Inner Mongolia quoted at 80,000 yuan; 64 units of futures in Xinjiang to go online in August

SMM has learned that two large orders for leasing 128 H100 eight-GPU servers have appeared in the market recently. A buyer in Hangzhou, besides H100, also inquired about higher computing power, with the budget undisclosed; another buyer is negotiating with a supplier in Inner Mongolia. The supplier holds 64 H100 servers spot and offered 80,000 yuan, which the buyer considers high. Both demand orders are for 128 H100 servers, but a certain intelligent computing service provider reported that no single supplier in the current market can deliver 128 H100 servers in a cluster. Meanwhile, industry insiders pointed out that 128 H100 servers far exceed the needs of the commonly used large model DeepSeek V4pro full-blooded version. Based on the above information, SMM believes that there is a significant discrepancy between the reported demand and actual demand in the current market.

SMM learns that an intelligent computing cloud service provider recently transacted a 4090 24G eight-card server at 7,000 yuan per unit per month. According to SMM's tracking, the current market quotation range for 4090 servers is 6,800-8,800 yuan per unit per month, with the transaction price close to the low end of the range. The service provider said, "No choice." Previously, channel feedback indicated that scattered rental platforms were willing to offer about 6,000-6,300 yuan for renting 4090 servers, and the price spread between sellers and buyers is still in a tug of war.

Spot A100-80G supply is tight, with a smart computing service provider reporting no current stock. Two quotes have emerged in the market: 32 units near-spot in east China (2-week delivery, InfiniBand networking, 3-year contract) quoted at 38,000 per month per unit; 32 units spot in Jiangsu (3-year closed-end contract, strong counterparties, one month deposit and one month rent) quoted at 31,500 per month per unit. The price spread between the two quotes is significant, and SMM analysis suggests they may be the same batch of goods circulated through multiple intermediaries. On the client side, an intended one-year closed-end bid is only 30,000 per month per unit, showing a clear gap with supply-side quotes. The service provider indicated that its focus has shifted toward tokens and models, and it currently has no demand for hardware leasing.