The GPU market runs on a number nobody has.
Loans, leases, and rentals are priced as if a used GPU is worth nothing, because nobody can say what one is worth. Everyone downstream pays for that.
THE NUMBER, IN THREE PARTS
Problem
Every GPU in the chain is financed, rented, and resold at a value nobody has measured.
Lenders cannot cite what a used card is worth, so credit documents write it down to zero. They underwrite the customer contract instead, which means only clouds with hyperscaler anchors get cheap debt.
The cost moves down the chain. Smaller clouds finance less capacity or make customers prepay it. Startups meet waitlists and lock-ins for hardware that sits idle elsewhere. Inference providers can't tell a healthy card from a scarred one, and cost-per-token rankings flip with the rent you assume.
The whole market prices access to hardware. Nobody prices the hardware.
We are measuring it.
Research & Blog
Notes from the lab.
- SEPTEMBER 2026PAPER
The Missing Layer: pricing aged GPUs from measurement
The white paper. Why the compute market finances a trillion-dollar asset class with no bankable value, and how a measured residual value closes the gap.
IN PROGRESS
Get the number first.
Early results go to the lenders, insurers, and buyers who need them.