Compute Exchange Launches Secondary Market for Used Nvidia H100 and A100 GPUs

Quick Facts

• Compute Exchange launched a secondary GPU marketplace connecting buyers with suppliers of used and refurbished Nvidia H100, A100, and other chips.
• Used H100s on the platform can sell for 40% to 60% below original MSRP, with CloudZero estimating prices between $6,000 and $22,000 versus $25,000 to $40,000 new.
• Notional trading volume on the platform is growing 200% every six months, according to CEO Carmen Li.

Compute Exchange has opened a secondary market for used and refurbished Nvidia GPUs, giving enterprises, cloud providers, and AI startups a new path to expand infrastructure without paying for the newest chips. The platform connects buyers with qualified suppliers across GPU models including the H100, H200, B200, A100, L40S, and V100.

The company is now accepting buy and sell requests from organizations seeking additional capacity. Buyers submit hardware requests and are matched with suppliers, with the platform providing support across sourcing, logistics, and transaction execution. Compute Exchange maintains a market-neutral position between buyers and sellers.

Used GPUs are sold as-is with supplier documentation. Refurbished units have been inspected, tested, and recertified, and command higher prices along with a limited warranty. The platform also offers forward contracts that let buyers specify a GPU model, quantity, start date, and target price for future capacity.

“Not every workload requires the newest generation of GPUs,” said Carmen Li, CEO of Compute Exchange. “For many organizations, used and refurbished hardware offers the fastest and most economical path to expanding AI infrastructure.”

Li, who also founded GPU pricing data firm Silicon Data, took over as Compute Exchange CEO in October. She described the platform’s matching process in detail: “We list the inventories that are available and when a request comes in we will dynamically ping the providers. They will give a price and the client will get a full specification back. It’s not just about price but actual performance and things like thermal latency degradation.”

Compute Exchange was co-founded in 2024 by Simeon Bochev, a former executive at Apple and Lambda Labs; Don Wilson, founder and CEO of trading firm DRW; and Suna Said, head of Woodside AI. The company launched in January 2025 with a focus on reserved GPU capacity across a network of more than 100 providers.

Wilson offered a sweeping view of where the compute market is headed. “The total dollars spent on compute will, over the next 10 years, exceed total dollars spent on oil,” he said. “Obviously oil is the largest commodity right now, so I believe it will be displaced by compute.”

Secondary market pricing data illustrates why demand for older-generation hardware remains strong. Used A100 80GB cards were priced between $4,000 and $9,000 in March, compared with $7,000 to $15,000 for new units, according to Jarvis Labs. Market data also shows used A100s retain 60% to 80% of their original purchase price, reflecting sustained demand.

The H100 secondary market has been more volatile. Used and refurbished H100s traded as high as $50,000 per GPU during peak scarcity in mid-2024, then dropped sharply as supply normalized. Refurbished H100s now consistently sell for 15 to 25 percentage points above used counterparts, creating arbitrage opportunities for resellers who can acquire, test, and certify hardware at scale.

Requests on the platform have ranged from hundreds to tens of thousands of GPUs. Demand is concentrated around proven production hardware rather than the latest GPU generations, the company said, as Nvidia’s newer Blackwell systems continue reaching the market.

The hardware marketplace adds physical sourcing to the platform alongside its existing capacity discovery tools, which the company frames as part of a broader push to bring transparency and liquidity to AI infrastructure markets.

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