Discussion: nobody knows what a used GPU cluster is worth

Sources: Ciphertalk post, HN 48917135
Summary: An essay argues that valuing second-hand GPU clusters is unusually hard, given fast depreciation, uncertain remaining useful life, power and interconnect constraints, and thin resale markets. It is analysis and opinion, not transaction data.
Why it matters: The residual value of AI hardware feeds the debt and capex assumptions behind the current datacenter buildout that shapes compute pricing.