Qwen 3.5 397B-A17B — H100 vs MI300X Performance per Dollar
Cost per million tokens of H100 (NVIDIA Hopper) versus MI300X (AMD CDNA 3) on Qwen 3.5 397B-A17B. Owning-hyperscaler TCO normalized by output tokens — performance per dollar across LLM workloads. Pick the more cost-efficient SKU at every target interactivity level. Use the chart controls below to switch sequences, precisions, and metrics — same interactions as the main inference chart.
AgentX replays real coding-agent sessions rather than fixed-length prompts, so context grows turn over turn and most of each request is served from cache instead of being recomputed. That turns the comparison into a systems question: KV transfer between nodes, prefix-aware routing, and cache capacity all move the curve alongside raw chip throughput. Fixed-sequence workloads stay the clean baseline for kernel and silicon performance, so the two scenarios answer different questions about the same hardware. Learn more about AgentX →
Push Qwen 3.5 397B-A17B to 8 tok/s/user and H100 lands at $0.08 per million tokens against MI300X's $0.08 — H100 pulls ahead by 2%.
H100: $0.08 per million tokens. MI300X: $0.08. Both at 9 tok/s/user on Qwen 3.5 397B-A17B, with H100 4% cheaper.
Toward the upper edge of the 8–10 tok/s/user interactivity band — at 10 tok/s/user — H100 runs $0.08 per million tokens on Qwen 3.5 397B-A17B while MI300X runs $0.09. H100 is the cheaper choice by 10%. (Numbers reflect the default agentic-traces · fp8 selection for this URL — table and chart below update if you change sequence, precision, or model in the controls.)
Chip pricing (owning hyperscaler): H100 $1.17/chip/hr · MI300X $0.95/chip/hr. Source: SemiAnalysis Market July 2026 Pricing Surveys & AI Cloud TCO Model.
| Metric | Interactivity (tok/s/user) | Interactivity (tok/s/user) | Interactivity (tok/s/user) |
|---|---|---|---|
| Dollar per Million Tokens | H100:$0.077MI300X:$0.079 | H100:$0.077MI300X:$0.081 | H100:$0.077MI300X:$0.086 |
| Concurrency | H100:~12MI300X:~24 | H100:~12MI300X:~23 | H100:~12MI300X:~20 |
Inference Performance
Agentic inference metrics from the AgentX scenario and fixed-sequence inference metrics across models, hardware configurations, and serving parameters.
Cost per Million Total Tokens (Owning - Hyperscaler) vs. Interactivity
Qwen3.5 397B • FP4 • 8K / 1K • Source: SemiAnalysis InferenceX™
TCO $/chip/hr: H100: 1.17H200: 1.22B200: 1.73B300: 2.26GB200: 1.86GB300: 2.31MI300X: 0.95MI325X: 1.1MI355X: 1.5RTX6000PRO: 0.68
Source: SemiAnalysis Market July 2026 Pricing Surveys & AI Cloud TCO Model
Note: Disaggregated inference configurations (e.g., MoRI SGLang, Dynamo TRTLLM) calculate cost per million tokens per decode chip or per prefill chip, rather than per total chip count. This makes direct token cost comparison with aggregated configs not an apples-to-apples comparison.
Note: Disaggregated inference configurations (e.g., MoRI SGLang, Dynamo TRTLLM) calculate input throughput per decode chip or per prefill chip, rather than per total chip count. This makes direct input throughput comparison with aggregated configs not an apples-to-apples comparison.
Note: Disaggregated inference configurations (e.g., MoRI SGLang, Dynamo TRTLLM) calculate output throughput per decode chip or per prefill chip, rather than per total chip count. This makes direct output throughput comparison with aggregated configs not an apples-to-apples comparison.
Note: Disaggregated inference configurations (e.g., MoRI SGLang, Dynamo TRTLLM) calculate power per decode chip or per prefill chip, rather than per total chip count. This makes direct power comparison with aggregated configs not an apples-to-apples comparison.
Note: Disaggregated inference configurations (e.g., MoRI SGLang, Dynamo TRTLLM) calculate Joules per decode chip or per prefill chip, rather than per total chip count. This makes direct Joules per token comparison with aggregated configs not an apples-to-apples comparison.
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