Independent · Source-linked · Updated August 2026

The public ledger of GPU-backed debt — and what the collateral is actually worth.

Indicative secondary-market prices for used datacenter GPUs, and a source-linked record of every major GPU-collateralized credit facility. Built for credit analysts, lenders, insurers, and journalists.

Explore the LedgerSee GPU Prices

Collateral Reference Prices

Indicative ranges · Q3 2026 · aggregated broker and dealer data
H100 SXM5 80GB
Used
$22,000–$27,000
Large orders clear near the low end; small lots near $27,000. Supply expanding as hyperscalers cycle to Blackwell.
Compute Exchange
B
H100 PCIe 80GB
Used
$16,000–$20,000
PCIe trades at a structural discount to SXM5 — no NVLink fabric for distributed training. Refurbished trades 10–15% above used.
Compute Exchange
B
A100 80GB SXM4
Used
$7,000–$9,500
~50% below ~$15,000 MSRP; highest secondary-market volume.
Compute Exchange
B
H200 141GB
Used
$30,000–$35,000
Supply low — most H200 fleets are still in their first deployment cycle. Prior single dealer listing (H200 NVL, refurb, $33,995, June 2026) was withdrawn.
Compute Exchange
B
H200 141GB (Refurbished)
Refurbished
$32,000–$36,000
10–15% premium over used H200 for documented diagnostics and supplier warranty. Very limited refurbished supply.
Compute Exchange
B

Indicative ranges from aggregated broker/dealer data — not executed-transaction medians. Sources and confidence grades on the Methodology page.

Over $20B of GPU-collateralized lending, in one ledger.

From xAI's $12.5B Colossus 2 SPV to CoreWeave's five delayed-draw term loans, every major facility — borrower, lenders, pricing, collateral — source-linked to filings and press.

View all 20 facilities
$20B+
GPU-collateralized debt outstanding
20
Facilities tracked, source-linked
Friday 12:00 ET
The weekly print, without exception

The Friday Print

One weekly email: the price print, ledger changes, and a credit note. Every Friday, 12:00 ET.

Subscribe