H100 Residual Value by Year
What an H100 should be worth when a loan or lease matures.
What it's worth
An H100 should be worth 11-19% of its original list price in 2027 and 5-7% in 2028 in our conservative case, as of June 2026. It first shipped in late 2022, so most of its resale curve is behind it.
At loan or lease maturity
| Term | Matures | Conservative | Moderate |
|---|---|---|---|
| 12 months | 2027 | 11-19% | 19-42% |
| 24 months | 2028 | 5-7% | 7-14% |
| 36 months | 2029 | 2-3% | 3-6% |
| 48 months | 2030 | 1% | 1-3% |
Deals closing in 2026, percent of the price new. Source: GPU residual value report, June 2026. Every GPU: residual value by year.
Why the H100 curve looks like this
The H100 is the oldest in our bands. Its conservative floor falls 16 points from 2026 to 2027 and another 6 to 2028, after which it is a few percent of list price.
Air cooling held its price up in 2025. H100 rents fell while median resale prices rose, because many data centers could not yet host Blackwell; the air-cooled, 700 W H100 still fit. That support fades as liquid-cooled capacity comes online, which is why the bands step down quickly.
Book value against the bands
| Year | Conservative | 4-year book | 5-year book | 6-year book |
|---|---|---|---|---|
| 2026 | 27-39% | 8% | 27% | 39% |
| 2027 | 11-19% | 0% | 7% | 22% |
| 2028 | 5-7% | 0% | 0% | 5% |
| 2029 | 2-3% | 0% | 0% | 0% |
| 2030 | 1% | 0% | 0% | 0% |
Straight-line book value for an H100 bought when the generation first shipped, at mid-year. Bold: above the moderate band. Lives that public operators use are on the GPU depreciation schedules tracker.
Booking an H100 residual?
Send us the equipment, the term and the residual you plan to book. Residual value insurance can back it, with an A- rated insurer.
Prefer email? hello@amcompute.com
Questions
- Is a six-year depreciation schedule right for H100s?
- A schedule is an accounting convention, not a resale forecast. For an H100 bought at launch, six-year straight-line book sits at the top of our conservative band in 2026 and inside the moderate band in 2027: defensible for an equity investor, above where a lender should sit.