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SAVRN Index

What AI costs

The same AI capacity is sold as rent, as accelerator-hours and as tokens. This is what each unit charges, what it leaves out and what nobody discloses, from SEC filings and the 742 prices SAVRN tracks on providers' own feeds and pages.

  1. 01 · The building $128.00 per kW-month Year-1 rent a developer charges for powered space
  2. 10.6x 02 · The finished compute $1,358.70 per kW-month What an AI cloud operator charges for the same kilowatt, accelerators included
  3. 03 · The accelerator $5.83 per accelerator-hour Anthropic's $45 billion contract with Nscale, divided down
  4. 04 · The token, served $0.20 per million tokens One rack-hour at $419.76 over measured MLPerf output
  5. 123x 05 · The token, sold $25.00 per million tokens, list Opus 5 output list price, and $3.76 realized on an agentic mix

Every figure in this row is from Twenty Cents to Twenty-Five Dollars, SAVRN's end-to-end pricing of 47 disclosed contracts. The steps change units on purpose, because that is how each layer quotes.

Who charges what

Three businesses, one kilowatt

Reduced to dollars per critical kilowatt-month. The dark part of each bar is what that business pays, and the copper part is what it keeps.

Neocloud, as developerCore Scientific, Hut 8, TeraWulf, Cipher, Applied Digital, CleanSpark, Riot
$128.00keeps $24
AI cloud operator, as tenantCoreWeave, Nebius, Lambda, Together
$1,358.70keeps $363
Model companyAnthropic, OpenAI
$2,717.85keeps $1,359
Latest changes

What moved

All 227 changes →
DateMarketSellerItemWasNowChangeSource
Oct 9, 2026 GPU hourly Verda H200Serverless containers, 1x H200 SXM5 141GB, spot · per GPU-hour $2.71 $2.82 +4.1% verda.com ↗
Oct 9, 2026 GPU hourly Verda H200Serverless containers, 1x H200 SXM5 141GB, serverless · per GPU-hour $5.42 $5.64 +4.1% verda.com ↗
Oct 9, 2026 GPU hourly Verda H200Instant clusters, H200 SXM5 141GB, on-demand · per GPU-hour $4.92 $5.12 +4.1% verda.com ↗
Oct 9, 2026 GPU hourly Verda H2001x H200 SXM5 141GB, spot · per GPU-hour $2.46 $2.56 +4.1% verda.com ↗
Oct 9, 2026 GPU hourly Verda H2001x H200 SXM5 141GB, on-demand · per GPU-hour $4.92 $5.12 +4.1% verda.com ↗
Oct 9, 2026 GPU hourly Verda H100Serverless containers, 1x H100 SXM5 80GB, spot · per GPU-hour $2.08 $2.16 +3.8% verda.com ↗
What is not in the price

What they don't charge for, and what they don't say

Rack-scale list prices

9 of 16 GB300 offers the Index tracks show no public price.

SAVRN Index price checks, Oct 11, 2026
Providers with no public price

Fluidstack, Lightning AI and TensorWave show no public price for any GPU the Index tracks.

SAVRN Index price checks, Oct 11, 2026
Network, fiber and cross-connects

Not disclosed in any of the 47 contracts in SAVRN's set, so no quoted rent includes them.

Twenty Cents to Twenty-Five Dollars
Throughput and utilization

No contract discloses how many tokens a rack produces or how busy it runs. SAVRN measures it from MLPerf results instead.

Twenty Cents to Twenty-Five Dollars
Tenant improvements

Tenants pay for fit-out, but no filing states the amount. SAVRN carries $16.43 per kW-month from market practice.

Twenty Cents to Twenty-Five Dollars
The discount off list

An Opus 5 input token lists at $5.00 per million and bills at $0.25 once it is cached and batched.

Twenty Cents to Twenty-Five Dollars
Who the tenant is

Five contracts withhold the tenant's name, including CoreWeave's build-to-suit and Riot's investment-grade counterparty.

SAVRN contract workbook
Redacted terms

TeraWulf redacted the capacity and rent for Lake Mariner, and Cipher and CleanSpark redacted their escalator percentages.

SAVRN contract workbook
Rent inside full-stack deals

Full-stack contracts such as Nscale's price the building and the compute together, with no separate rent.

SAVRN contract workbook
The SAVRN reference set

Seven references, one system

Capital, delay, policy, water, grid, permits and scarcity are one system seen from seven sides. Each reference is primary-sourced, refreshed on a schedule, and links into the others, so a project can be followed from the money committed to the docket that stopped it.

Have a specific address? Site Intelligence reads all seven references against one location, county, utility and grid operator included, and cites every finding.
Check an address →