The computing power leasing sector heats up, with listed companies accelerating their deployment

Securities Daily Reporter Xu Linyan

Currently, the commercialization and implementation of AI intelligent agents are accelerating, with downstream application scenarios releasing concentrated demand, directly driving explosive growth in computing power demand, and the popularity of computing power leasing significantly increasing.

On March 12, the concept sector of computing power leasing performed actively. As of the close of that day, many concept stocks such as Hongjing Technology Co., Ltd., China Energy Construction Co., Ltd., hit the daily limit, while Beijing Guolian Video Information Technology Co., Ltd., Beijing Huichen Zidao Information Co., Ltd. (hereinafter referred to as “Huichen Co., Ltd.”) and other stocks followed suit.

“Computing power leasing is expected to become an important solution to alleviate the current AI computing power supply gap. It can quickly match the short-term computing power needs of AI companies, especially for small and medium-sized enterprises lacking sufficient funds and technical capabilities to build data centers themselves, significantly reducing initial investment costs. At the same time, it can improve the overall utilization efficiency of computing resources and avoid waste,” said Yuan Shuai, Deputy Secretary-General of the Zhongguancun Internet of Things Industry Alliance, in an interview with Securities Daily.

Meanwhile, rising leasing prices have become a key issue to watch for the market’s subsequent development.

According to a research report from Kaiyuan Securities, industry monitoring shows that, driven by a surge in AI computing power demand at the beginning of 2026, the computing power leasing market has entered a price increase cycle. By the end of February, the rent for high-end GPUs such as Nvidia H200 and H100 increased by 15% to 30% month-on-month. The hourly rent for H200 reached 7.5 yuan per card to 8.0 yuan per card, with monthly rent ranging from 60,000 to 66,000 yuan, an increase of 25% to 30%; the monthly rent for H100 rose to 55,000 to 60,000 yuan, up 15% to 20%. Delivery cycles have been extended to Q2 2027 (H200) and Q1 2027 (H100).

In response to this trend, Bai Wenxi, Chairman of Zhonghe Kunlun (Beijing) Asset Management Co., Ltd., told Securities Daily that from an operational perspective, companies can hedge against short-term price fluctuations and operational uncertainties by locking in long-term contracts and signing fixed-term leasing agreements for 3 to 5 years. From a long-term industry development perspective, it is necessary to accelerate the improvement of industry standards, clarify core indicators such as computing power performance and security levels, and guide market participants to compete in an orderly manner. Relevant policy subsidies should be precisely targeted at small and medium-sized enterprises and scientific research institutions in the industry to prevent resources from overly concentrating in leading companies.

Under the development trend of rising prices and intensified competition in the industry, computing power leasing companies should avoid vicious price competition, build differentiated barriers through improved service quality and technological capabilities, and “at the same time, leasing companies need to consider the cost pressures of AI transformation in the real economy, by launching exclusive discount computing power packages for the real economy, and jointly building computing power application scenarios with real enterprises, promoting a collaborative development pattern between the computing power leasing industry and the real economy, rather than simply raising prices to gain short-term profits,” Yuan Shuai said.

The high prosperity of the computing power leasing market has also attracted listed companies to accelerate their related business layouts through various means. Recently, on investor interaction platforms, the progress of listed companies’ computing power leasing businesses has become a hot topic among investors.

Huichen Co., Ltd., relying on its own computing power applications, has launched a one-stop product for intelligent computing resource operation management called “Integrated Computing Power Management Service Platform.” The platform supports heterogeneous computing resource integration management, providing trading and service operation of computing resources, better meeting the scenario needs of different AI computing power rentals.

“Currently, the platform has been deployed internally within the company and in related data centers. In terms of hardware, there are also a small amount of computing resources leased to relevant clients for use,” a relevant person in charge of Huichen Co., Ltd. told Securities Daily.

Hunan Aibulu Environmental Protection Technology Co., Ltd. announced that the company’s computing power center leasing business will start in October 2024 and will be fully constructed by December 2024. Since the establishment of the computing power center, the company has gradually strengthened its leasing capabilities, enhanced team building and technical reserves, and further improved its market-oriented ability. As a result, the company’s sales and profits from computing power leasing in 2025 are expected to grow significantly compared to 2024.

Zhaochuang Data Technology Co., Ltd. stated on the investor interaction platform that computing power services are already an important business direction for the company, and it has signed cooperation or service agreements with multiple clients.

Looking ahead, Everbright Securities believes that companies with integrated computing and electricity, green power computing layout, and customer resource advantages will dominate the competition in the computing power leasing market and become core beneficiaries of AI industry development.

“Long-term, the development of computing power leasing still needs to address technical dependence, security, and compliance bottlenecks. In the future, the industry will evolve toward greening, service stratification, and ecological collaboration. Companies need to achieve sustainable development through hybrid leasing models, technological cost reduction, and policy coordination,” said Bai Wenxi.