How to Read the BOM: For Equipment Finance and Private Credit Lenders

The bill of materials, or BOM, is the itemized equipment and services list used to price and deliver a GPU cluster.

Every line on it is a different asset, with different manufacturers, resale markets, and aging cycles. We put the whole thing on two pages, for equipment finance and private credit lenders.

• The cost mix. GPUs run 76% to 82% of hardware value at 22 nodes and above.
• How a cluster is designed, from inside one node up to the full BOM.
• Every major component: what it does, why it matters, and who makes it.
• The three quote formats, and a $20.6M illustrative BOM priced line by line.
• Where quotes hide equipment value. One OEM listed a server at $1.5M online. The real price was closer to $450,000.