Model CapEx, power, utilization, IRR and payback for MDCX Liquid Cooling and Immersion Cooling modular AI data centers — before you build.
| Parameter | L1240C45 L1240C45SUR150 | Unit / Notes |
|---|---|---|
| ① GPU model (dropdown) | L1240C45 ⊂ {GB300, B300} · I400C45 ⊂ {5090, RTX Pro 6000} | |
| IT power per Unit (1 cabin) | kW/Unit | The chosen GPU's actual draw in the chosen SKU — not the SKU design rating iLiquid: racks × min(GPU kW/rack, SKU kW/rack) + air rack. Immersion: tanks × servers/tank × kW/server. Source: tco-power.js actualItKw from gpu-data specs.power.maxPowerKW + the SKU density segment. |
| Computing Unit Qty (integer = Container count; 1 Container = 1 cabin) | 1 Unit = 1 Container iUnits built. IT power per unit comes from the IT power row above, not a fixed MW per container. | |
| ▸ Facility Power (total grid draw, incl. cooling) | — | Total grid draw (incl. cooling) |
| ② GPU rental ($/GPU/hr) — auto-updates with GPU type | USD/GPU/hr · auto on GPU type iUSD/GPU/hr lease rate (auto from GPU_RENT_DEFAULTS on select) | |
| ② On-Demand Utilization (post-contract) | % billable hours — reserved contract months bill at 100% iUtilization is phase-aware, matching the Sec 9/10 lease: the customer reserves capacity for the contract term (see “Reserved contract months” below, default 36) and pays for 100% of it. This input is the ON-DEMAND rate that applies only after the contract ends. A year straddling the boundary blends pro-rata. Electricity follows the same per-year util through PF = idle + (1−idle)×util. | |
| ② Reserved contract months | months the end customer reserves capacity — billed at 100% iDrives Section 1 revenue and electricity: months 1..N bill at 100% util at the contracted $/GPU/hr (no escalator — the rate is locked); after N, on-demand util and the revenue escalator apply. Kept separate from Section 8's GPU contract months so a tripartite input never moves the EPC scenario. 0 = no reserved contract. | |
| PUE | Annual PUE (facility / IT) iPUE = Total facility power / IT load (Total/IT, never IT/Total). Annual rollup formulaId: pue.annual.energyWeighted_v1 — Σ(facility×months)/Σ(IT×months) for the column workload. Point PUE from solve() Balance. Fallback (immersion / missing plant) is labeled on the same cell, never silent 1.0. | |
| PUE conditions | city · workload · season months · util · SKU · formulaId (on-screen, not a footnote) | |
| Grid connection | — | solve() electrical.connectionCapacityKW |
| Industrial electricity | USD/kWh iUSD/kWh facility retail rate | |
| Tariff — Infra FOB CN (%) | Applies to items ③-⑦ only i% MFN tariff on (infra FOB + freight), CIF basis (WTO Art VII) | |
| VAT / Sales tax (%) — Infra | % i% VAT/GST on landed cost | |
| VAT recoverable % (Infra) | % i% VAT recoverable as input credit (rest capitalized) | |
| VAT refund wait (months) | US non-recoverable → 0 mo imonths VAT refund wait × rate × WC opportunity cost | |
| VAT recoverable % (OpEx items) | % (elec/bw/labor) i% OpEx VAT recoverable (elec/bw/labor) | |
| Infra shipping (USD/Cluster) | CN → site iUSD/Unit sea freight (per-Container) | |
| Bandwidth (USD/mo/Cluster, training 100Gbps / inference 50Gbps) | 100Gbps committed iUSD/mo/Unit committed bandwidth (×12 in OpEx) | |
| O&M labor (USD/yr/Cluster) | Personnel iUSD/yr/Unit on-site personnel | |
| Equipment O&M (% FOB/yr) | % i% equip FOB / yr (O&M) | |
| Insurance (% equipment/yr) | % i% equip FOB / yr (insurance) | |
| Property tax (% CapEx/yr) | % i% CapEx / yr (property tax) | |
| Install/commission (USD/Cluster) | One-time iUSD/Unit one-time install (grossed up by WHT) | |
| WHT on cross-border services | % · grossed-up cost basis i% WHT on cross-border services → install / (1-WHT) | |
| ③ Debt financing ratio | % of CapEx i% of CapEx financed (project-level) | |
| ③ Cost of debt (annual rate) | % | |
| ③ Project debt term (yrs, amortizing) | yrs · main debt amort term (default = horizon) iLevel-payment amortizing loan term. FCFE deducts principal each year; residual principal reduces Y-horizon terminal equity. | |
| Corporate income tax | % i% corp income tax (applied to max(EBT,0)) | |
| Depreciation life (yr, SL) | Book depreciation (legacy/fallback) iyrs straight-line (fallback) | |
| Dep life ① Compute+Network (yr,SL) | Compute+Network, 4yr iyrs compute depreciation (GB300/B300/RTX/5090) | |
| Dep life ② Infra+Install (yr,SL) | Infra+Install, 10yr iyrs infra depreciation (cabin/BESS/transformer) | |
| Y5 terminal value (% CapEx) | Market resale, for IRR i% market resale at Y5 (terminal value) | |
| NOL deduction cap (% taxable) | % US 80 (TCJA §172), FI 100, CN 80 i% NOL deduction cap (TCJA §172: US 80%, CN 80%) | |
| Main P&L horizon (yrs) | yrs · main P&L + Y-horizon terminal; investor horizon ≥ this iMain projection horizon (yrs). Drives P&L loop, terminal-value trigger, investor min horizon floor. |
| BOM item | Unit cost (USD/Unit) | Origin / Incoterms | Duty category | Notes |
|---|---|---|---|---|
| ① Compute — GB300 NVL72 (per Rack, 8 racks/Unit) | DDP Taiwan/US | Duty-paid (per rack) | $4.5M/Rack · 8 racks/Unit = $36M/Unit · 576 GPUs/Unit · per-rack price incl. 1.2 premium ($3.75M × 1.2) · incl. NVSwitch | |
| ① Compute — B300 HGX (8 GPU/4U × 8 servers/Unit) | DDP Taiwan/US | Duty-paid (per PC) | $540K/server · 8 servers/Unit = $4.32M/Unit · 64 GPUs/Unit · per-server price incl. 1.2 premium ($450K × 1.2) · L1240C45 8-slot full cabinet | |
| ② Internal high-speed network (Spectrum-X/IB) | DDP Taiwan/US | Duty-paid | Leaf-spine + 800G optics | |
| ③ Modular cabin (incl. UPS / 8-min ride-through) | FOB China | Infra | Enclosure + power distribution + liquid CDU + UPS + 8-min storage + fire/BMS | |
| ④ Hybrid Cooler (dry+DLC combined) | FOB China | Infra | Dry+DLC combined, climate-adaptive (US/UAE/FI) | |
| ⑤ BESS — 3.5 MWh / ~1.75 MW (2h, per Container) | FOB China | Infra | LFP container + PCS · 3.5 MWh × $257/kWh ≈ $900k · 0.5C (~1.75 MW, 2h) · grid arbitrage capable | |
| ⑥ MV switchgear (per Container) | FOB China | Infra | 11/20/33kV intake + metering/protection | |
| ⑦ MV-LV transformer (per Container) | FOB China | Infra | Market range $26K-42K; data-center grade midpoint ~$65K; ×2 if N+1 | |
| Total equipment (GB300) / Unit | — | |||
| Total equipment (B300) / Unit | — | |||
| GPU count (per 1 Container = 1 Unit) | GPUs/unit | Units | Total GPUs / Container | ||
|---|---|---|---|---|---|
| GB300 NVL72 | — | ||||
| B300 HGX server | — |
| BOM item | Unit cost (USD/Unit) | Origin / Incoterms | Duty category | Notes |
|---|---|---|---|---|
| ① Compute — RTX 5090 server (8 GPU/4U) | DDP Taiwan/US | Duty-paid (per server) | $81.05K/server · 64 pcs/Unit = $5.187M/Unit · incl. CPU + DRAM + SSD + 8×GPU + BF3 NIC + Imm retrofit · consumer · +30% market | |
| ① Compute — RTX Pro 6000 Server (8 GPU/4U) | DDP Taiwan/US | Duty-paid (per server) | $148.95K/server · 64 pcs/Unit = $9.533M/Unit · incl. CPU + DRAM + SSD + 8×GPU + BF3 NIC + Imm retrofit · workstation · +30% market | |
| ② Internal high-speed network (per Container) | DDP Taiwan/US | Duty-paid | Leaf-spine + 400G ROCE · 0.4 MW equivalent ($1.255M/MW × 0.4) | |
| ③ I400C45 immersion tank (FOB, incl. Tanks + CDU + BMS + UPS) | FOB China | Infra | Tank + sealing + dielectric CDU + BMS + UPS | |
| ④ Dielectric fluid (initial fill, FOB) | FOB China | Infra | $12/L × 9600 L = $115,200/Unit · SHELL S5 / Castrol fluorinated · 5-7 yr replacement | |
| ⑤ BESS (per Container) — $257/kWh × ITPwr × PUE × duration h | $/kWh × h × PUE = — | FOB China | Infra | $257/kWh × 0.4 MW × PUE 1.06 (product-line Immersion) × 2 h = $217.9k · LFP Container + PCS · 0.5C (2h) · grid arbitrage |
| ⑥ Hybrid Cooler (Dry Cooler + Compressor, per Container) | FOB China | Infra | Dry cooler + compressor (closed-loop heat rejection) · aux cooling for dielectric fluid | |
| ⑦ MV switchgear (per Container) | FOB China | Infra | 11/20/33kV intake + metering/protection | |
| ⑧ MV-LV transformer (per Container) | FOB China | Infra | Market $26K-42K; scaled to 0.4 MW Unit | |
| Total equipment (RTX 5090) / Unit | — | |||
| Total equipment (RTX Pro 6000) / Unit | — | |||
| GPU count (per 1 Container = 1 Unit) | GPUs/4U | 4U units | Total GPUs / Container | ||
|---|---|---|---|---|---|
| RTX 5090 (4U device) | — | ||||
| RTX Pro 6000 Server (4U device) | — |
| CapEx line item | GB300 (L1240C45) |
|---|
| Line item | GB300 (L1240C45) |
|---|
| P&L line item | GB300 (L1240C45) |
|---|
| Period | GB300 (L1240C45) |
|---|
| Metric | GB300 (L1240C45) |
|---|
Section 1's "Debt ratio / Cost of debt / VAT working-capital cost" describe the single-entity financing structure — the operator owns the assets and borrows against them. In the tripartite split it owns nothing to pledge, so those inputs have no counterpart here.
Sections 8 and 9 each carry their own debt ratio and rate (default 0% = all equity), affecting only that investor's P&L and IRR, independent of Section 1's debt.
Evaluate the two scenarios separately, never summed: the same CapEx is the operator's asset in the main model and the investors' asset here.
Role: GPU investor owns ① compute servers + ② internal high-speed network; capitalized at DDP price (4-yr depreciation default); leases to operator monthly. Monthly rent = CapEx × (1+total return % over payback) / payback months. Income tax at local rate, VAT at local standard.
| GPU Investor — Inputs | GB300 (L1240C45) |
|---|---|
| ① Reserved Contract Period (months) | |
| ② Contract Markup % (= contracted rent / CapEx − 1) | |
| ③ Post-Contract Renewal Rate (% of contracted rent) | |
| ④ Depreciation life (yrs, accounting/tax) | |
| ⑤ Economic life (yrs, revenue-generating) | |
| ⑥ Debt financing % (= debt / CapEx; default 90% = high leverage) | |
| ⑦ Annual cost of debt % (amortizing, 5y) | |
| ⑧ Loan amortization (yrs) |
Three-phase lease: ① Reserved (Y1 to contract end): contracted rent (locked) + 100% utilization · ② Renewal / On-Demand (contract end to economic life): contracted × renewal % + on-demand utilization (from Section 1) · ③ Retired (after economic life): zero rent.
Key concept: Depreciation life ≠ Economic life. H100 still earns in US market in 2026 — GPUs continue generating revenue after fully depreciated. Default GPU economic life 7 yrs (4 yr dep + 3 yr renewal).
| GPU Investor — Outputs | GB300 (L1240C45) |
|---|
| GPU Investor — Full Lifecycle Annual P&L | GB300 (L1240C45) |
|---|
Role: IT Infra investor owns everything except GPU/network: ③ L1240C45 / ④ Hybrid Cooler / ⑤ BESS / ⑥ MV switchgear / ⑦ MV-LV transformer + freight + duty + non-rec VAT + grossed-up install = Main-model Total CapEx − Compute DDP. Default 10-yr depreciation.
| IT Infra Investor — Inputs | GB300 (L1240C45) |
|---|---|
| ① Reserved Contract Period (months) | |
| ② Contract Markup % (= contracted rent / CapEx − 1) | |
| ③ Post-Contract Renewal Rate (% of contracted rent) | |
| ④ Depreciation life (yrs, accounting/tax) | |
| ⑤ Economic life (yrs, revenue-generating) | |
| ⑥ Debt financing % (= debt / CapEx; default 90% = high leverage) | |
| ⑦ Annual cost of debt % (amortizing, 10y) | |
| ⑧ Loan amortization (yrs) |
Three-phase lease (Infra): ① Reserved 60 mo · ② Renewal (60mo to 15yr) at 90% — slow electrical equipment depreciation · ③ Retired after 15 yrs. Infra physical life 15-20 yrs, well beyond 10-yr accounting depreciation.
| IT Infra Investor — Outputs | GB300 (L1240C45) |
|---|
| IT Infra Investor — Full Lifecycle Annual P&L | GB300 (L1240C45) |
|---|
Constraint #3 — both phases must clear margin ≥ 0. Either one negative → the column is flagged and a warning banner appears above the table.
Reserved is normally the binding phase. It carries both the highest electricity (full load) and the highest rent (contracted, before any renewal discount), so a project that clears Reserved usually clears On-Demand too.
Return on working capital is not a ROIC. The operator owns no assets, so invested capital is zero and a ROIC is undefined. The denominator here is the ~3 months of float it must fund (that phase's OpEx + that phase's rent); the numerator is that phase's Net Income. Reported per phase — Reserved runs from Y1 to contract end and On-Demand only after it, so averaging two phases years apart into one figure says nothing. Negative = that phase loses money, the same signal as the ✓/✗ above.
| Operator Feasibility (Y1 annual) | GB300 (L1240C45) |
|---|
Duty = (FOB + Freight) × Rate (WTO Art VII). Infra rates: US 35% (Sec 122 + Sec 301), UAE 5%, FI 0%.VAT_WC = Recoverable_VAT × rate × wait_months/12 (one-time Y1 OpEx). US 0 (non-recoverable), UAE 3 mo, FI 6 mo.grossed_install = install / (1 − WHT%), delta capitalized. US 30% · UAE 0% · FI 15%.Rev = GPU_count × $/GPU/hr × 8760 × Utilization; default escalator −5%/yr (next-gen GPU price decay).