B200 Appraisal
What B200 collateral is worth now, and when your loan matures.
What it's worth
A new HGX B200 server ran $360K-$470K in the October 2026 Rack Report, the widest new-price range we track. Our conservative band puts a B200 at 40-54% of list price in 2027 and 16-26% in 2029.
Our data
| Figure | Value | Detail |
|---|---|---|
| New HGX B200 8-GPU node | $360K-$470K | Indicative new price, rounded. October 2026 Rack Report, data through August 2026. |
| B200 residual, 2026 | 59-67% | Conservative band, % of original list price; moderate 67-80%. Residual report, as of June 2026. |
| B200 residual, 2027 | 40-54% | Conservative band, % of original list price; moderate 54-68%. Residual report, as of June 2026. |
| B200 residual, 2029 | 16-26% | Conservative band, % of original list price; moderate 26-46%. Residual report, as of June 2026. |
| GPU price index | 75 | H1 2025 = 100; -14% vs the depreciation baseline; volume 3.3x a year earlier. October 2026 Rack Report, data through August 2026. |
Sources: American Compute.
What moves B200 collateral value
The range is wide because configurations are. HGX B200 ships air-cooled at 1,000 W per GPU or liquid-cooled at 1,200 W. Most B200 deployments are still air-cooled, and an air-cooled server can be resold into far more data centers. The appraisal records which one you are financing.
The second year costs the most. The B200 conservative floor drops 19 points between 2026 and 2027, from 59% to 40% of list price, then another 10 points to 2028. By 2030 the conservative band is 6-11%.
Deals close late in the cycle. Most financing on smaller clusters closes on GPUs that are already a year past release, and a Blackwell project signed today may be racked six months later. B200 first shipped in early 2025, so a loan signed in late 2026 starts in the B200's second band year.
B300 is the comparison buyers make. It carries 288 GB of memory per GPU against the B200's 180 GB, and new B300 allocation now competes with B200 for the same buyers.
Where the used market is
The Rack Report has no used B200 benchmark yet: completed B200 resales are still too few to publish a median. Until they are, an appraisal values a B200 from its new price, the residual bands and the closest traded comparables, the H200 node and the B300 new price, and says so in the report.
What a report flags
| Severity | Finding |
|---|---|
| High | Loan balance at month 24 exceeds the conservative band for 2028; the amortization schedule runs behind the resale curve. |
| Medium | Servers are liquid-cooled; resale is limited to sites with direct-to-chip cooling, which narrows the orderly liquidation buyer pool. |
| Low | Invoice sits inside the market range; storage and management nodes are priced separately and verified. |
Illustrative.
Discuss a transaction
Send us the equipment list and the loan or lease you have in mind. We will come back with an indication and the questions we would need answered.
Prefer email? hello@amcompute.com