Used and Refurbished Data Center GPU Market Size, Share & Forecast to 2035

The Used and Refurbished Data Center GPU Market is valued at USD 2.45 billion in 2026 and is projected to reach USD 26.54 billion by 2035, up from USD 1.20 billion in 2025, a CAGR of 36.35% from 2025 to 2035 (DC Market Insights estimate). Supply in this market is set by accounting calendars, not by chip launches: Amazon cut the book life of a subset of its servers from six to five years from January 2025, citing the pace of artificial intelligence (AI) hardware, and booked about USD 920 million of early-retirement charges in the last quarter of 2024 (Amazon 10-K, February 2025). NVIDIA, the main graphics processing unit (GPU) maker, now lists the resale of its previously sold products on the “gray market” as a risk to new-chip demand (NVIDIA 10-K, February 2026). DC Market Insights counts about 191,550 data center GPUs resold in 2025 at an average USD 5,673 each; the number rises to 293,342 in 2026 as the 1.9 million Hopper-class GPUs shipped in 2023 reach their third year. GPUs four to five years old grow fastest, 47.16% a year, and the Middle East and Africa leads regional growth at 41.99% a year because buyers there take tested Hopper servers that export rules still allow.

Key Market Statistics: What Is the Used and Refurbished Data Center GPU Market Worth in 2026?

DC Market Insights values used and refurbished data center GPUs at USD 2.45 billion in 2026, 104.97% above 2025, because resold units rise from 191,550 to 293,342 in one year.

• Market size 2025: USD 1.20 billion; 2026: USD 2.45 billion; 2030: USD 13.38 billion; 2035: USD 26.54 billion.
• CAGR 2025-2035: 36.35% in the base case; the 2035 range runs from USD 18.58 billion (low, 31.57%) to USD 33.97 billion (high, 39.75%).
• Average resale value: USD 5,673 per GPU in 2025, USD 4,616 by 2035 as supply loosens (DC Market Insights estimate).
• Largest age band: GPUs up to 3 years old, USD 852.20 million or 71.3% of 2025 value.
• Fastest age band: GPUs 4 to 5 years old, 47.16% a year, reaching USD 13.26 billion by 2035.
• Largest sales format: complete GPU servers and HGX baseboards, USD 630.23 million in 2025.
• Largest seller channel: IT asset disposition (ITAD) companies and refurbishers, 44.0% of 2025 value.
• Leading region: North America, USD 525.91 million (44.0%) in 2025; fastest region: Middle East and Africa, 41.99% a year.
• Largest country: United States, USD 466.15 million in 2025; fastest large country: India, 45.19% a year.
• Market leaders: Iron Mountain (ITRenew), SK tes and Sims Lifecycle Services hold about 30% of 2025 value together (DC Market Insights estimate).

Executive Summary: How Fast Is the Secondary Market for Data Center GPUs Growing?

The Global Used and Refurbished Data Center GPU Market size was valued at USD 44.25 million in 2020, reached USD 1.20 billion in 2025, and is anticipated to reach USD 26.54 billion by 2035, at a CAGR of 36.35% during the forecast period.

Attribute	Value
Historical period	2020-2024
Base year	2025
Forecast period	2026-2035
Market size 2025	USD 1.20 billion
Market size 2026	USD 2.45 billion
CAGR 2025-2035	36.35%
Market size 2035	USD 26.54 billion

Resale value grew 93.33% a year from 2020 to 2025 from a small base of Volta and early Ampere cards. The step change comes from the installed base: NVIDIA’s data center revenue rose from USD 15.01 billion in fiscal 2023 to USD 193.7 billion in fiscal 2026, and every GPU in that fleet becomes used supply within five to seven years. DC Market Insights expects the resold count to reach 1,973,520 units in 2030 and 5,133,200 in 2035, while the residual value per unit falls once Hopper and Blackwell fleets retire together after 2028. Growth therefore slows from 104.97% in 2026 to 6.36% in 2035.

What Counts as a Used or Refurbished Data Center GPU?

The used and refurbished data center GPU market was worth USD 1.20 billion in 2025 and counts only second-hand GPUs built for servers.

The Used and Refurbished Data Center GPU Market covers the resale of pre-owned accelerators designed for data centers: SXM and OAM modules, PCIe accelerator cards, HGX-class baseboards and complete GPU servers, valued at the GPU content of each sale, plus the refurbishment, testing and warranty services sold with them.

Included: resale by ITAD companies, refurbishers, brokers, original equipment manufacturer (OEM) and leasing remarketing desks, and direct sales by cloud and GPU fleet owners; certified refurbished units; GPUs sold inside used servers (GPU share of the server value).

Excluded: new GPUs, covered in the Data Center GPUs Market; GPU rental, covered in the GPU as a Service Market; ITAD fees for data erasure, logistics and recycling, covered in the Data Center IT Asset Disposition (ITAD) Market; consumer and gaming graphics cards, including former crypto-mining cards; GPUs moved between a company’s own data centers.

How the segments fit together: each resale dollar sits once in four dimensions: age of the GPU at resale, sales format, seller channel and buyer. Regions and countries follow where the buyer installs the GPU.

Why Do Used Data Center GPU Market Estimates Differ?

Used data center GPU estimates differ mainly by what is counted as a sale; DC Market Insights puts the market at USD 2.45 billion in 2026.

Broader estimates add the full value of used servers (CPUs, memory, storage and chassis), consumer graphics cards from gaming and crypto mining, GPU leasing and rental income, or the fees ITAD companies charge for erasure and recycling. Each of those is a different pool of money. DC Market Insights counts one transaction per resold data center GPU, at the price the buyer pays for the GPU content, plus refurbishment and warranty services billed with it. Buyers in scope range from GPU cloud providers to universities, small and medium-sized enterprises (SMEs) and AI start-ups that cannot get allocation of new accelerators.

Element	In this estimate	Why
Resold data center GPU modules, cards and baseboards	Yes, USD 1.09 billion in 2025	Core product of the market
Refurbishment, testing and warranty services	Yes, USD 108.66 million in 2025	Sold with the GPU
CPU, memory and chassis value of used servers	No	Not GPU content
Consumer and ex-mining graphics cards	No	Not built for data centers
GPU rental and leasing income	No	A service on the asset, not a sale
ITAD erasure and recycling fees	No	Covered in a separate report

Market Drivers: What Is Pushing More Data Center GPUs onto the Resale Market?

Resold data center GPUs rise 53% in 2026 because three forces release them early.

Amazon’s Six-to-Five-Year Server Life Cut and USD 920 Million of Early Retirements

Amazon raised server lives from five to six years in January 2024 and cut a subset back to five years from January 2025, citing AI and machine learning; the change added USD 1.4 billion of 2025 depreciation, according to its 10-K filings. Meta moved most servers to 5.5 years in January 2025, while Alphabet, Microsoft and CoreWeave use up to six years and Nebius depreciates GPUs over four. DC Market Insights retires 25% of each GPU cohort in its fifth year and 22% in its sixth, so the 2020 Ampere cohort peaks as used supply in 2025.

Hopper-to-Blackwell Transition: NVIDIA Data Center Revenue of USD 193.7 Billion in Fiscal 2026

NVIDIA’s fiscal 2026 10-K says its business moved “from offering Hopper HGX systems to Blackwell” rack-scale systems, and data center compute revenue rose from USD 38.95 billion in fiscal 2024 to USD 162.4 billion in fiscal 2026. GPU cloud owners sell earlier generations to fund new ones: HIVE Digital Technologies sold fully depreciated A-series cards at a gain in the year to March 2025 and bought H100 and H200 GPUs (HIVE annual filing, June 2025). In the DC Market Insights model, Hopper-class GPUs one to two years old were USD 720.54 million of 2025 resale value.

Sims Lifecycle Services Revenue Up 77.4% to A$757.0 Million

Sims Limited reported Sims Lifecycle Services revenue of A$757.0 million in the year to June 2026, up 77.4%, with repurposed units up from 8.8 million to 16.8 million, and wrote that the move to “high-density GPU and accelerator infrastructure” is speeding hardware turnover (Sims Limited 2026 Annual Report, August 2026). SK tes says GPU-dense AI servers are now refreshed in as little as 10 to 18 months (SK tes, May 2026).

Market Trends: How Is Used Data Center GPU Trading Changing?

Three changes shape a used data center GPU market that reaches USD 13.38 billion in 2030.

Hyperscaler Circular Centers Sell Whole Systems to Qualified Buyers

Microsoft reports a 92% reuse and recycling rate for decommissioned servers and components across eight Circular Centers, and says complete systems can be “sold to qualified buyers for continued use” (Microsoft Azure, September 2026). Microsoft also runs a Circularity Hub where ITAD firms bid for harvested parts, and Google harvested about 8.8 million components in 2024 for reuse or resale. DC Market Insights expects the share of retired GPUs that reach the resale market to rise from 30% in 2025 to 40% by 2035.

Rental Price Cuts Reset Residual Values: AWS Cuts H100 Instances up to 45%

Amazon Web Services (AWS) cut on-demand prices for its P5 (H100) instances by up to 45% and P4d (A100) instances by up to 33% from June 2025. AWS Capacity Block rates in October 2026 are USD 1.70 per A100 GPU-hour against USD 5.97 for H100 and USD 14.21 for B200, so an A100 earns about 28% of an H100 hour. DC Market Insights uses that ratio to set its residual-value curve: a GPU resold at age five fetches 30% of its new price in a tight market and 18% once supply loosens after 2030.

From Loose Cards to Whole HGX Servers with Remaining OEM Warranty

Refurbished listings now include complete eight-GPU servers, such as a Dell PowerEdge XE9680 with eight H100 GPUs at USD 375,000 with Dell warranty to April 2028 (Cloud Ninjas listing, October 2026). Loose GPU modules and PCIe cards grow faster, 38.49% a year against 34.09% for complete servers, because Blackwell-era racks are harder to move as whole systems.

Market Challenges and Restraints: What Limits the Used Data Center GPU Trade?

Two restraints keep used data center GPU hardware at about 0.67% of NVIDIA’s fiscal 2026 data center compute revenue.

Export Licences Follow the GPU: BIS Guidance of 31 May 2026

The US Bureau of Industry and Security (BIS) says a licence is required to export advanced computing items to entities headquartered in Country Group D:5 or Macau, even when they are located elsewhere, while data centers may continue the use, storage and disposal of items they hold (BIS guidance, May 2026). The US Department of Justice charged a case involving more than USD 300 million of GPU servers routed through Malaysia and Singapore in October 2026. Every resale of an A100, H100 or newer GPU therefore needs end-user checks, which is why China, the second-largest country market at USD 107.57 million in 2025, grows a slower 32.96% a year in the DC Market Insights model.

Power and Performance Gap: A100 Earns 12% of a B200 Hour

At AWS Capacity Block rates an A100 earns USD 1.70 per hour against USD 14.21 for a B200, about 12%, while it still needs a data center slot, power and cooling. IREN warns in its fiscal 2026 10-K that new architectures “may reduce the market rate for earlier generations”. DC Market Insights cuts its market-tightness factor from 1.00 in 2026 to 0.65 in 2030, which lowers the average resale value from USD 7,565 to USD 6,052.

Market Opportunities: Where Can Sellers of Used GPUs Add Revenue?

Two used data center GPU pools add about USD 15.72 billion of value between 2025 and 2035.

Refurbishment and Warranty Services: USD 2.84 billion by 2035

EU WEEE rules require used equipment shipped for reuse to carry test records for every item, and buyers of second-hand H100s want burn-in tests and memory checks. Services billed with resale grow from USD 108.66 million in 2025 to USD 2.84 billion by 2035, 38.60% a year, as their share of hardware value rises from 10% to 12%. Park Place Technologies already supports more than 76,000 GPUs under third-party maintenance (Park Place, July 2026).

Four-to-Five-Year-Old Hopper GPUs for Inference: USD 13.26 billion by 2035

The 1.9 million GPUs shipped in 2023 and 4.2 million in 2024 reach ages four to five in 2027-2029. DC Market Insights expects this age band to grow from USD 278.44 million in 2025 to USD 13.26 billion by 2035, 47.16% a year, with inference hosts and universities as the main buyers.

Pricing Analysis: What Does a Used Data Center GPU Sell For?

A used data center GPU sold for an average USD 5,673 in 2025 across all models and ages (DC Market Insights estimate).

Year	GPUs resold	Average resale value per GPU	Share of retired GPUs resold	Market-tightness factor
2020	27,126	USD 1,510	22%	0.80
2025	191,550	USD 5,673	30%	1.00
2030	1,973,520	USD 6,052	36%	0.65
2035	5,133,200	USD 4,616	40%	0.60

Public price anchors spread widely because the average mixes low-cost inference cards with flagship modules. The US National Institutes of Health paid USD 11,013 for one new A100 80GB card in September 2022 and the US Navy USD 25,431 for an H100 NVL in July 2024, according to USAspending records; NVIDIA launched the eight-GPU DGX A100 at USD 199,000 in May 2020. Refurbished asking prices in October 2026 run USD 14,995 for an H100 SXM5 and USD 19,750-28,995 for an A100 80GB at IT Creations, and USD 1,495-6,160 for a V100 32GB. Asking prices sit above transaction prices, so DC Market Insights uses its age-based curve rather than listings.

Which Export Rules and Reuse Laws Apply When a Data Center GPU Is Resold?

Six rules govern the USD 1.20 billion of 2025 used data center GPU sales, from US export controls to EU design-for-reuse law.

• US export controls on advanced computing (October 2022 and October 2023 BIS rules): licences, with a presumption of denial, for advanced chips to China and 22 more countries; they apply to used GPUs as much as new ones.
• BIS AI diffusion rule (January 2025), rescinded in May 2025: it covered in-country transfers; BIS replaced it with diversion measures naming Malaysia and Thailand.
• BIS guidance of 31 May 2026: licences for entities headquartered in Country Group D:5 or Macau wherever they are located.
• EU Ecodesign Regulation (EU) 2019/424 for servers: graphic and expansion cards must be removable for reuse, a secure data-deletion function is mandatory, and firmware must stay available for eight years after the last unit of a model is sold (EUR-Lex); the regulation is under review.
• EU WEEE Directive 2012/19/EU, Annex VI: used equipment shipped for reuse needs an invoice stating direct reuse and test records for every item.
• China’s 2024 equipment-renewal action plan (State Council, March 2024): it promotes second-hand goods circulation, but names no data center or GPU rule.

Market Segmentation: Which Used Data Center GPUs Take the Most Spend?

GPUs up to three years old took 71.3% of 2025 used data center GPU value, USD 852.20 million of USD 1.20 billion.

By GPU Age at Resale

Young Hopper GPUs lead 2025 value because one- and two-year-old units keep 62-75% of their price; by 2035 GPUs four to five years old lead with 50.0% of value.

Age at resale	2025 (USD million)	Share 2025	2035 (USD million)	CAGR 2025-2035
Up to 3 Years Old	USD 852.20 million	71.3%	USD 7,331.19 million	24.01%
4 to 5 Years Old	USD 278.44 million	23.3%	USD 13,259.17 million	47.16%
6 Years and Older	USD 64.62 million	5.4%	USD 5,947.76 million	57.18%

By Sales Format

Complete GPU servers and HGX baseboards were 52.7% of 2025 value; loose modules and cards reach parity with servers by 2035.

Sales format	2025 (USD million)	Share 2025	2035 (USD million)	CAGR 2025-2035
Complete GPU Servers and HGX Baseboards	USD 630.23 million	52.7%	USD 11,847.38 million	34.09%
Loose GPU Modules and PCIe Cards	USD 456.37 million	38.2%	USD 11,847.37 million	38.49%
Refurbishment and Warranty Services	USD 108.66 million	9.1%	USD 2,843.37 million	38.60%

By Seller Channel

ITAD companies and refurbishers sold 44.0% of 2025 value; direct sales by fleet owners grow 39.42% a year.

Seller channel	2025 (USD million)	Share 2025	2035 (USD million)	CAGR 2025-2035
ITAD Companies and Refurbishers	USD 525.91 million	44.0%	USD 12,207.53 million	36.95%
Independent Brokers and Online Marketplaces	USD 358.58 million	30.0%	USD 5,838.39 million	32.18%
OEM and Leasing Remarketing Programs	USD 167.34 million	14.0%	USD 4,511.48 million	39.02%
Direct Sales by Cloud and GPU Fleet Owners	USD 143.43 million	12.0%	USD 3,980.72 million	39.42%

By Buyer

Enterprises, universities and research labs bought 33.0% of 2025 value; GPU cloud and neocloud providers take the lead by 2035 at 36.0%.

Buyer	2025 (USD million)	Share 2025	2035 (USD million)	CAGR 2025-2035
GPU Cloud and Neocloud Providers	USD 370.53 million	31.0%	USD 9,553.73 million	38.40%
Enterprises and Research Labs	USD 394.44 million	33.0%	USD 7,165.29 million	33.64%
AI Startups and Inference Hosts	USD 286.86 million	24.0%	USD 7,165.29 million	37.96%
Spares and Repair Pools	USD 143.43 million	12.0%	USD 2,653.81 million	33.88%

DC Exclusive: Used Data Center GPU Price Ladder, from USD 1,495 V100s to USD 375,000 H100 Servers

This price ladder is a DC Market Insights model built on 6 inputs per product (launch year, a government purchase record, refurbished asking prices and AWS hourly rates) for six used data center GPU products: an H100 SXM5 listed at USD 14,995 refurbished is 59% of the USD 25,431 the US Navy paid for a new H100 NVL in 2024.

Product	Launch year	New price anchor	Refurbished asking price, October 2026	AWS Capacity Block rate per GPU-hour
NVIDIA Tesla V100 SXM2 32GB	2017	not public	USD 1,495-6,160	–
NVIDIA A100 80GB (PCIe or SXM4)	2020	USD 11,013	USD 19,750-28,995	USD 1.70
NVIDIA H100 SXM5 80GB	2023	USD 25,431	USD 14,995	USD 5.97
NVIDIA H200 141GB	2024	not public	no listing found	USD 7.89
NVIDIA B200	2025	not public	no listing found	USD 14.21
8x H100 server (Dell PowerEdge XE9680)	2023	not public	USD 375,000	–

The ladder shows two things the market average hides. First, scarce A100 80GB cards list above their 2022 new price, because buyers who cannot get Blackwell allocation pay for available Ampere capacity. Second, rental income falls by generation: an A100 hour earns 28% of an H100 hour and 12% of a B200 hour at AWS. DC Market Insights uses rental ratios, not listings, to set residual values: 75% of the new price at age one, 50% at age three, 30% at age five and 12% at age seven in a tight market.

Regional Insights: Where Do Used Data Center GPUs End Up?

North America bought USD 525.91 million of used data center GPUs, 44.0% of 2025 value, and the Middle East and Africa grows fastest at 41.99% a year.

North America

North America grows from USD 525.91 million in 2025 to USD 10.08 billion by 2035, 34.36% a year. It is both the main source and the main buyer: Amazon, Microsoft, Meta, Alphabet and CoreWeave hold most installed Hopper GPUs, and Iron Mountain bought US ITAD firm Regency Technologies for about USD 200 million in January 2024.

Asia Pacific

Asia Pacific grows from USD 358.58 million to USD 8.49 billion, 37.23% a year. India grows fastest among large countries at 45.19%, and Singapore, a USD 33.47 million market in 2025, is a trading hub that BIS watches for diversion.

Europe

Europe grows from USD 179.29 million to USD 3.98 billion, 36.35% a year. EU server ecodesign rules make GPU cards removable for reuse, and universities and research centers are large buyers.

Middle East and Africa

The Middle East and Africa grows from USD 71.72 million to USD 2.39 billion, 41.99% a year, the fastest rate, led by the United Arab Emirates at 42.41%, where AI start-ups and government labs buy tested Hopper servers.

Latin America

Latin America grows from USD 59.76 million to USD 1.59 billion, 38.85% a year, with Brazil as the largest buyer.

Which Countries Buy the Most Used Data Center GPUs?

The United States bought USD 466.15 million of used data center GPUs in 2025, 39.0% of the market; India is the fastest large country at 45.19% a year.

Rank	Country	Region	2025 (USD million)	2035 (USD million)	CAGR 2025-2035
1	United States	North America	USD 466.15 million	USD 8,757.58 million	34.09%
2	China	Asia Pacific	USD 107.57 million	USD 1,857.67 million	32.96%
3	Japan	Asia Pacific	USD 53.79 million	USD 1,167.68 million	36.04%
4	India	Asia Pacific	USD 47.81 million	USD 1,990.36 million	45.19%
5	United Kingdom	Europe	USD 46.62 million	USD 955.37 million	35.26%
6	Germany	Europe	USD 43.03 million	USD 928.83 million	35.96%
7	Canada	North America	USD 41.83 million	USD 875.76 million	35.55%
8	South Korea	Asia Pacific	USD 38.25 million	USD 849.22 million	36.34%
9	Singapore	Asia Pacific	USD 33.47 million	USD 689.99 million	35.34%
10	United Arab Emirates	Middle East and Africa	USD 26.30 million	USD 902.30 million	42.41%
11	Brazil	Latin America	USD 23.91 million	USD 663.45 million	39.42%
12	France	Europe	USD 23.91 million	USD 557.30 million	37.01%

China ranks second with USD 107.57 million in 2025, counting only GPUs that can be traded legally, such as older V100 and A100-class inventory already inside the country.

Forecast Scenarios: How Large Could the Used Data Center GPU Market Be by 2035?

The 2035 used data center GPU market ranges from USD 18.58 billion to USD 33.97 billion around a base of USD 26.54 billion.

Scenario	2035 (USD million)	CAGR 2025-2035	Assumption
Low	USD 18,576.68 million	31.57%	Hyperscalers keep GPUs in-house for inference to year seven and shred more units; resale share stays near 30%
Base	USD 26,538.12 million	36.35%	Resale share rises to 40%, tightness factor 0.60 in 2035, five-to-six-year retirement peak
High	USD 33,968.79 million	39.75%	Refresh cycles shorten to three to four years and certified pre-owned programmes from OEMs lift residual values

Who Are the Leading Sellers of Used and Refurbished Data Center GPUs?

Iron Mountain (ITRenew), SK tes and Sims Lifecycle Services held about 30% of the USD 1.20 billion 2025 market together (DC Market Insights estimate, based on their reported lifecycle revenue and its GPU share).

• Iron Mountain (ITRenew)
• SK tes
• Sims Lifecycle Services
• Procurri
• Park Place Technologies
• HPE Financial Services
• Microsoft Circular Centers
• IT Creations
• Cloud Ninjas
• HIVE Digital Technologies
• Hut 8
• IREN
• CoreWeave
• Nebius

Iron Mountain bought about 80% of ITRenew in January 2022, paying USD 748.8 million at closing, and its Corporate and Other information destruction line, which holds asset lifecycle management (ALM) product revenue, rose from USD 177.1 million in 2023 to USD 632.5 million in 2025 (Iron Mountain 10-K, February 2026). SK ecoplant bought TES at a USD 1 billion enterprise value in 2022. Procurri, listed in Singapore, reported hardware resale revenue of S$129.8 million in 2024. HPE Financial Services reported higher remarketing revenue from lease returns in fiscal 2025. Hut 8 took a USD 15.2 million impairment on its GPU fleet after Ethereum’s 2022 Merge.

What Has Changed Recently in the Used Data Center GPU Trade?

Six dated events since May 2026 shape a used data center GPU market worth USD 2.45 billion in 2026.

• In October 2026, the US Department of Justice charged a California man over more than USD 300 million of export-controlled GPU servers shipped to Malaysia and Singapore and re-exported to China (Source: US Department of Justice).
• In September 2026, Microsoft reported a 92% reuse and recycling rate for decommissioned servers and components and sales of complete systems to qualified buyers (Source: Microsoft Azure).
• In August 2026, Sims Limited reported Sims Lifecycle Services revenue up 77.4% to A$757.0 million and 16.8 million repurposed units (Source: Sims Limited).
• In July 2026, Park Place Technologies said it supports more than 24,000 servers and over 76,000 GPUs (Source: Park Place Technologies).
• In May 2026, BIS required licences for advanced computing exports to entities headquartered in Country Group D:5 or Macau wherever located (Source: Bureau of Industry and Security).
• In May 2026, SK tes said GPU-dense AI servers are refreshed in as little as 10 to 18 months (Source: SK tes).

Key Takeaways

Four findings matter most in a used data center GPU market of USD 2.45 billion in 2026.

• 2026 market size: USD 2.45 billion, up 104.97%, because resold GPUs rise from 191,550 to 293,342 as the 2023 Hopper cohort turns three.
• GPUs 4 to 5 years old reach USD 13.26 billion by 2035, because the 2023-2025 fleets retire on five-to-six-year book lives.
• Average resale value falls from USD 5,673 to USD 4,616 by 2035, because Hopper and Blackwell fleets retire together.
• Refurbishment, testing and warranty services reach USD 2.84 billion by 2035, because buyers of second-hand H100s demand tested units.

Research Methodology: How Did DC Market Insights Size the Used and Refurbished Data Center GPU Market?

DC Market Insights sized the used and refurbished data center GPU market bottom-up at USD 1.20 billion for 2025.

The receipt: data center GPU shipments by year (6.30 million in 2025, from the DC Market Insights Data Center Accelerator Market model) x the share of each cohort retired at each age (25% in year five, 22% in year six) x 30% of retired GPUs reaching the resale market in 2025 = 191,550 GPUs; x the new price of each cohort x a residual-value curve by age (75% at age one to 5% at age nine) = USD 1,086.60 million of hardware; plus refurbishment and warranty services at 10% = USD 108.66 million; total USD 1.20 billion.

Three bound checks hold. First ceiling: USD 1,086.60 million of resold hardware is 0.67% of NVIDIA’s USD 162.4 billion fiscal 2026 data center compute revenue. Second ceiling: Iron Mountain’s information destruction line with ALM product revenue (USD 632.5 million in 2025) and Sims Lifecycle Services (A$757.0 million, about USD 490 million) total about USD 1.12 billion across all IT hardware and services, so GPU resale through these channels must be a fraction of that, consistent with ITAD sellers holding 44.0% of value. Floor: 191,550 GPUs at the lowest V100 listing of USD 1,495 gives at least USD 286 million. Full method notes are on the research methodology page.