Nvidia's Blackwell GPUs for AI applications will be more expensive than the company's Hopper-based processors, according to analysts from HSBC cited by @firstadopter , a senior writer from Barron's. The analysts claim that one GB200 superchip (CPU+GPU) could cost up to $70,000. However, Nvidia may be more inclined to sell servers based on the Blackwell GPUs rather than selling chips separately, especially given that the servers are projected to cost up to $3 million apiece.

HSBC estimates that Nvidia's 'entry' B100 GPU will have an average selling price (ASP) between $30,000 and $35,000, which is at least within the range of the price of Nvidia's H100. The more powerful GB200, which combines a single Grace CPU with two B200 GPUs, will cost between $60,000 and $70,000.

Servers based on Nvidia's designs are much more expensive. The Nvidia GB200 NVL36 with 36 GB200 Superchips (18 Grace CPUs and 36 enhanced B200 GPUs) will be sold for $1.8 million on average, whereas the Nvidia GB200 NVL72 with 72 GB200 Superchips (36 CPUs and 72 GPUs) will have a price of around $3 million, according to the alleged HSBC numbers.

Selling whole systems instead of standalone GPUs/Superchips enables Nvidia to absorb some of the premium earned by system integrators, which will increase its revenues and profitability. Considering that Nvidia's rivals AMD and Intel are gaining traction very slowly with their AI processors (e.g., Instinct MI300-series, Gaudi 3), Nvidia can certainly sell its AI processors at a huge premium. As such, the prices allegedly estimated by HSBC are not particularly surprising.

It should be kept in mind that the actual prices of data center-grade hardware always depend on actual volumes and negotiations, so take the numbers with a grain of salt for now. Large buyers like Microsoft will likely get huge discounts, while some other clients may have to pay a higher price.