Realized vs. Rate Card: GPU Cloud Economics

The published rate card is one public end of GPU pricing — the on-demand asking price; a large cloud's revenue, though, is mostly committed contracts priced below it. Using only public filings, we estimate the other end — what each operator actually realizes — across several operators. The discount scales with size (bigger cloud + customers → deeper discount), so the largest cloud marks the floor; the deals in between are private. Totals lock to the filings; set the chip mix, per-chip cost, scarcity, in-service and committed share yourself. Opens on the CCIR estimate. CRI = CCIR Reference Index.