NVIDIA HGX H100 (640GB) vs. HGX H200 (1,128GB) — CapEx, 36m Power TCO & $/GPU-h Comparison
Compares 8-GPU Hopper SXM5 nodes across HBM3 (80GB) vs. HBM3e (141GB) memory bandwidth, 0m OEM CapEx ($/€), US Texas ERCOT vs. Germany DE-LU 36-month TCO, and ASA liquidation curves. · Live ECB EUR/USD 1.1130 (2026-10-29)
| Benchmark Dimension / Underwriting Metric | 8x NVIDIA H100 SXM5 80GB (HGX 8-GPU Server) | 8x NVIDIA H200 SXM5 141GB HBM3e (HGX 8-GPU Server) | Spread / Underwriting Rule |
|---|---|---|---|
| Accelerator & Node Topology | 8× H100 SXM5 (80 GB) | 8× H200 SXM5 (141 GB) | 640 GB vs. 1128 GB node VRAM |
| Chassis & Interconnect Fabric | HGX SXM5 Baseboard (4U DLC / 8U Air) | HGX SXM5 Baseboard (4U DLC / 8U Air) | SXM NVSwitch vs. PCIe/OVX topology |
| 100% Peak Nameplate IT Power (kW / Node) | 10.2 kW | 10.5 kW | +0.3 kW per node delta |
| 0m New OEM Reference Ask (USD / EUR per Node) | $324,438 (€291,499) | $368,000 (€330,638) | $+43,562 CapEx spread per node |
| US Texas ERCOT 36m Net Own TCO (4-Node Cluster, USD) | $889,787 | $811,401 | 72% utilization · DLC PUE 1.12 · $0.0680/kWh |
| Germany DE-LU 36m Net Own TCO (4-Node Cluster, EUR) | €874,896 | €806,687 | 72% utilization · DLC PUE 1.12 · Eurostat X_VAT |
| Implied Self-Hosted Unit Cost ($/GPU-h US-TX · €/GPU-h DE) | $1.47/h (€1.44/h) | $1.34/h (€1.33/h) | Net of 36m residual recovery |
| ASA Liquidation Recovery Factors (OLV 90–180d / FLV 30–60d) | 88.7% OLV / 64.6% FLV | 86.0% OLV / 62.0% FLV | Exact dollar curves in €79 Pack / Pro API |
| Senior ABL Borrowing-Base Eligibility Gate | INELIGIBLE_INSUFFICIENT_MARKET_EVIDENCE | INELIGIBLE_INSUFFICIENT_MARKET_EVIDENCE | Requires n>=5 fresh (<=60d) comps & Enterprise DC EULA |
Cross-Market & Architecture Visual Benchmark (GPUValuation.com)
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