[SMM Computing Power Flash] H200 PCIe Buyout at 4.35 Million, 20% Lower Than HGX

Data Centre Magazine reported on Aug 27 that Prysmian is rolling out a fibre-plus-copper composite cabling programme for AI data centres, running in parallel with its $1.25 billion three-state US expansion. The programme covers pre-terminated fibre, AOC active optical cable, direct-attach copper (DAC), and rack-level power distribution copper busbars, targeting hyperscale and colocation buyers. The Molex EUR 5.5 billion long-term agreement executes alongside; Prysmian expects North America data-centre fibre:copper cable mix to shift from 60:40 toward 45:55 over 2027-2030, with AI compute nodes driving incremental demand for high-speed differential copper and 800 V busbars.

SMM has learned that a certain MaaS platform is currently selling DeepSeek-V4-Flash model tokens at 78% of DeepSeek's official website price. The sales side also has a policy: "If usage exceeds 30,000 yuan, the official website price is further discounted to 95%." The platform's developers bluntly say that the 95% price may be completely unprofitable. The platform uses a hybrid model of partly self-built deployment and partly access to large vendors' APIs, with large vendors as the upstream. Capacity is expanded whenever usage exceeds the limit, and the TPM ceiling has been raised several times to 30 million. According to its feedback, the discount spread between upstream and downstream in token resale is extremely small, margins are negligible, and profitability is far lower than that of the computing power leasing business.

SMM has learned that a carrier equipment room in Jinan, Shandong currently has one H20-141G complete machine available for lease, with a monthly rent of 52,000 yuan, a one-month deposit and three months' rent paid in advance, test delivery support, 100M dedicated bandwidth at 25 yuan/month and shared bandwidth at 20 yuan/month (12-month term), and line access limited to the carrier's own network. A downstream client of an IDC service provider is interested in leasing the entire unit for a three-year term. The current price is already within the client's budget, and the commercial process is still advancing. SMM believes that for a single-unit H20-141G lease, the process from inquiry to contract signing is relatively long, and after the price is agreed, the transaction pace mainly depends on the client's internal procedures.