[SMM Computing Power Daily] H100 Spot Rental Quotes Hit a New High of 85,000, H20 and A800 Long-Term Agreement Resources Enter Simultaneously

SMM July 23 News:

H100 casual lease quotations rise to 85,000 yuan/month

SMM learned that six locally state-owned H100 80G SXM 8-card servers in the Yangtze River Delta region were recently made available in the leasing market. Casual lease quotations for terms below one year were 85,000 yuan/month, and for leases of one year or more, quotations dropped to 80,000 yuan/month, with prices overall continuing their uptrend. SMM previously reported that the mainstream quotation range for H100s was 75,000-80,000 yuan/month, buyers’ psychological price was 74,000-75,000 yuan/month, and they were merely on the sidelines above 80,000 yuan. This casual lease quotation of 85,000 yuan represents an approximate 6% rise from the prior range, further widening the short-term lease premium. A cloud service provider also confirmed it could take on three-month H100 short-term leases, prioritizing finding long-term clients for contract succession after expiry, and raised short-term lease prices accordingly. Market participants noted that high-end computing power supply remains tight, and scarce spot resources drove quotations higher, making sellers’ bargaining advantage unlikely to loosen in the short term.

H20 96G enters market with monthly rent of 35,000 yuan; compliant resources remain tight

SMM learned that two H20 96G 8-card servers were recently made available in the east China leasing market. Monthly rent quotations were 35,000 yuan for a one-year term, edging down to 34,000 yuan for a three-year term, with limited room for long-term contract discounts. SMM previously reported that the H20-141G version’s annual contract quotation was 42,000 yuan/month and its monthly lease was 46,000 yuan/month. The 96G version is significantly cheaper than the 141G version, mainly due to its halved video memory, making it suitable for small- and medium-scale inference scenarios. Market participants noted that although the H20 enjoys the advantage of compliant supply within mainland China, overall supply circulating in the market remains tight, and the supply-demand tight balance will be hard to change in the short term.

A800 80G long-term contract quoted at 36,000 yuan; CUDA ecosystem remains a moat

SMM learned that 16 spot A800 80G 8-card servers were recently made available in the central China leasing market. Monthly rent quotations per unit for a one-year term were 36,000 yuan, dropping to 34,000 yuan for a three-year term, with limited room for long-term contract discounts. SMM previously reported that the market quotation range for A100-80G was 31,500-38,000 yuan/month, and A800 quotations were basically flat with that. Market participants noted that although the A800 belongs to the two generations prior, the maturity of Nvidia’s CUDA ecosystem remains its strongest moat. It still holds strong competitiveness in certain training and inference scenarios and cannot be fully replaced in the short term.

A100 40G traded at 12,000 yuan/month, trading pace slows

SMM learned that an intelligent computing cloud service provider traded one A100 40G 8-card server this week at a monthly rent of around 12,000 yuan, in line with the current mainstream market quotation range. The service provider reported a broadly sluggish market overall recently with limited trading volume. As the mainstream inference card of the previous generation, the A100 40G still sees some market demand, but the trading pace has slowed.

SMM Analysis: Today’s market information further confirms the structural layering of computing power supply. H100 casual lease quotations exceeded 85,000 yuan/month, a clear rise from the 75,000-80,000 yuan/month range early this month, with the short-term lease premium continuing to widen, reflecting deeper scarcity of high-end computing power spot. H20 96G and A800 80G long-term contract resources entered the market simultaneously, both quoted at 34,000 yuan/month for three-year terms, with narrowing room for long-term contract discounts, showing suppliers’ strong medium and long-term price expectations. A100 40G transaction prices remained steady at 12,000 yuan/month but with limited trading volume, indicating weak demand support for low-end cards. Overall, the uptrend for high-end computing power prices is clear, mid-end card prices are stabilizing but trading is sluggish, and the market stratification pattern is deepening further.