H100 residual value
GPUQuant’s residual value of one H100: the discounted value of what the GPU can still earn over its remaining life, computed daily from the forward curve, and how closely it tracks Silicon Data’s figure.
What it measures#
What one H100 is worth today: the discounted value of the rental income it can still earn over its remaining economic life, in US dollars per GPU. It is GPUQuant’s own figure, computed daily from the published forward curve, and not Silicon Data’s published residual value, which has no free source. The two must never be read as the same number, and the chart says whose it is.
How it is built#
By GPUQuant, from the published forward curve, with Silicon Data's own model: a discounted cash flow over the curve across the GPU's economic life, where each month's cash flow is the forward rental rate times 730 hours times a scale that stands for utilisation and operating cost. The GPU's age is known from its release date, so the remaining life is the fitted life less the age, and the sum runs over the months that are left. Months past the curve's end use its last point, decayed.
Silicon Data publish the model and none of its constants, so GPUQuant fitted them to Silicon Data's published output paired with the curve that fed each day. For the H100, released on 2023-03-21: a life of 79 months, a monthly discount of 0.506% and a scale of 0.3467. Against the publisher's figure over 517 paired days the mean error is 0.73% and the worst day 2.38%; fitted on the first seventy percent of days and scored on the last thirty, which the fit never saw, the mean error is 1.07%.
Publication#
- Source
- GPUQuant
- Unit
- USD
- Frequency
- Daily, whenever a new curve is published
What GPUQuant shows#
The newest 7 days, the same window as the curve it is derived from, since a value computed from a licensed figure is shown on the licence's terms. Each day's value is computed from that day's curve as soon as the curve is published.
On Market Data as Residual value · GPUQuant under H100.
Reading it beside the others#
- H100 neocloud index: The list price of the same hour on the specialist clouds, roughly a third of the hyperscaler figure.
- Silicon Data H100 index: Silicon Data's modelled figure, which counts negotiated and committed-use deals and sits below any list price.
- H100 forward curve: What the market expects the H100 rental index to be out to three years.
- CHIP perpetual: GPU-backed credit, whose collateral this figure values.
- NVDA perpetual: The company that sold the part, whose share prices the next generation while this figure prices the last.
Sources#
- Silicon Data indices, the model in Silicon Data's words and how GPUQuant fitted it.