Valuation
What a GPU, server or cluster is worth — and how sure anyone can be. We publish the evidence, not a number: the valuation method is still under review.
Open GPU Market does not publish valuations, indices or estimates yet. The valuation method (meth/c44-v1.yaml · valuation.method_v1) is pending a decision, and an estimate will never be shown alongside or as an executed price.
What we hold today that a valuation would draw on.
| Evidence type | Records | Role in valuation |
|---|---|---|
| Executed sales & auction results | 0 | Market approach — the strongest evidence |
| Recovery sales | 0 | Distressed / liquidation value |
| Appraisals | 0 | Third-party opinions (never mixed with sales) |
| Asset-backed financings | 3 | Lender-implied value; LTVs only when disclosed |
| On-demand list prices (AWS, UK + EU) | 299 | Income approach input — asks, not rents achieved |
| Asking prices | 0 | Upper-bound signal only |
Facilities where compute assets or a site secure the debt.
| Record | Collateral (as described) | Announced | LTV | Grade |
|---|---|---|---|---|
| Financing: NexGen Cloud — USD.AI | NVIDIA B200 fleet | $34m | Not disclosed | C |
| Financing: Mistral AI — Bpifrance, BNP Paribas, Crédit Agricole CIB, HSBC, La Banque Postale, MUFG, Natixis CIB | Mistral Compute — Bruyères-le-Châtel | $830m | Not disclosed | C |
| Financing: Nscale — PIMCO, Blue Owl, LuminArx | GPU-backed | $1.4bn | Not disclosed | B |
GPU → server → rack → cluster → fleet → data centre
Value is recorded at the level it was evidenced: a single-GPU sale is not scaled to a cluster, and a facility financing is not split into GPUs.
Executed sales and recoveries
Once enough verified, rights-cleared UK + EU transactions exist — and the aggregation threshold is decided — ranges by asset and age can be shown.