# H200 reference price

> The GPUQuant H200 reference price: the on-demand list price of one H200 for one hour on the eight-GPU node, averaged across AWS, Azure, Google Cloud and Oracle, monthly since December 2024.

Updated 2026-09-06. Canonical: https://gpuquant.com/docs/market-data/h200-reference-price

## What it measures

One NVIDIA H200 141GB SXM, rented for one hour on the eight-GPU node, at the on-demand list price for Linux, in US dollars, across AWS p5e and p5en, Azure ND H200 v5, Google Cloud a3-ultragpu-8g and Oracle. The same Hopper silicon as the H100 with more and faster memory, which is what a large model’s inference is bound by.

The series runs monthly from December 2024. Google’s H200 SKUs dropped the word NVIDIA from their descriptions, which once hid them from GPUQuant’s survey entirely and led it to conclude that Google Cloud had no H200 at all; it does, in six regions, and the ingestion matches on the part name now. The H200 joined Market Data on 6 September 2026.

## How it is built

In two steps, every month. Per region, GPUQuant takes the lowest eligible published price for the eight-GPU node and divides it by eight. Per provider, it averages that provider's regional prices, so a provider that publishes the H200 in forty regions counts no more than one that publishes it in six. The reference is the average of the provider figures, and the median is computed and stored beside it on every row.

A provider with no eligible offering is absent, never zero. A provider that has not republished holds its last price forward and is marked held. Google Cloud prices the accelerator separately from the machine, so its complete machine price is rebuilt from the GPU, core and memory SKUs before dividing; Oracle prices per GPU-hour for a whole shape and is used as published. The arithmetic is on [The reference price](https://gpuquant.com/docs/reference-price) and [Normalization](https://gpuquant.com/docs/normalization), and the calculation version is **v4**.

## Publication

**Source**

GPUQuant

**Unit**

USD / GPU-hour

**Frequency**

Monthly: the price lists are read daily, and a month’s figure is the last reading taken in it

**Ticker**

None; a GPUQuant figure

## What GPUQuant shows

The whole history, from the first month GPUQuant priced the part, with every provider's own regional average as a row under the reference, the provider comparison and every regional offering behind it under the chart, and the change log of every list-price move dated to the provider's own effective date. Nothing is licensed and nothing is windowed: every figure has a URL behind it.

On [Market Data](https://gpuquant.com/market-data) as GPUQuant Reference under H200.

## Reading it beside the others

-   [Ornn H200 index](https://gpuquant.com/docs/market-data/ornn-h200-index): Ornn's transacted figure, the prices H200 rentals actually cleared at.

## Sources

-   [Data sources](https://gpuquant.com/docs/data-sources), the provider price lists every figure is read from.
-   [Coverage](https://gpuquant.com/docs/coverage), which provider publishes the part where, and every exclusion with its reason.
-   [Time and coverage](https://gpuquant.com/docs/history), how a held price and a missing provider are shown.