[SMM Computing Power Midday Review] H100 Highest Price in the Yangtze River Delta Rose, Pricing Power for High-End Spot Cargo Shifted Toward the Supply Side

[Market Overview] The highest price for H100 in the Yangtze River Delta rose today. The highest monthly rental for SMM-H100-80G-Complete Machine-Yangtze River Delta-Monthly Subscription increased from 81,000 yuan to 82,000 yuan, and the average card-hour rate rose from 13.8 yuan to 13.89 yuan. Prices for other models and regions remained unchanged, and the overall market stayed steady.

[H100 Yangtze River Delta: New Resources Entered the Market, Pushing Up the Highest Price] The highest monthly rental for SMM-H100-80G-Complete Machine-Yangtze River Delta-Monthly Subscription increased from 81,000 yuan to 82,000 yuan, up 1,000 yuan, a 1.23% rise in the highest monthly rental; the average card-hour rate rose from 13.8 yuan to 13.89 yuan, up 0.09 yuan, a 0.65% increase in the average card-hour rate.

This round of rise was driven by the release of new high-end resources. The previous highest listing prices of 81,000 yuan became invalid, and new market quotes reported by price submitters pushed the highest price higher. As H100 is the most-traded high-end training model, the lift at the upper end of its price range in the Yangtze River Delta indicates that demand for high-end computing power in the region remained strong, and new resources entering the market at higher prices were still absorbed by the market.

[SMM View] The rise in the highest price for H100 in the Yangtze River Delta extended the pattern of resilient high-end computing power prices. SMM believed two points warranted attention: first, the rise occurred in the highest price rather than the lowest price, indicating that tightness was concentrated in high-end spot cargo available for immediate delivery; newly released resources were transacted at higher prices, and pricing power continued to tilt toward resource-holding suppliers;

second, as the Yangtze River Delta is the core region bearing training demand, the lift in the upper end of H100 prices mutually corroborated the recent trend of closed long-term contract pricing, suggesting that the pricing center for high-end computing power was unlikely to loosen in the short term. For buyers, the cost of acquiring high-end spot cargo was rising, increasing the necessity of locking in long-term contracts or securing resources in advance.