Qwen 3.5 397B-A17B — GB200 NVL72 vs MI325X Performance per Dollar
Cost per million tokens of GB200 NVL72 (NVIDIA Blackwell) versus MI325X (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.
Near the low end of the 36–68 tok/s/user interactivity band — at 44 tok/s/user — GB200 NVL72 runs $0.04 per million tokens on Qwen 3.5 397B-A17B while MI325X runs $0.34. GB200 NVL72 is the cheaper choice by 732%.
On Qwen 3.5 397B-A17B at 52 tok/s/user, the per-million math comes out to $0.04 for GB200 NVL72 and $0.47 for MI325X; GB200 NVL72 delivers 1006% more output per dollar.
At 60 tok/s/user on Qwen 3.5 397B-A17B, GB200 NVL72 costs $0.04 per million tokens; MI325X costs $0.67. GB200 NVL72 is 1417% more cost-efficient at this operating point. (Numbers reflect the default 8k/1k · fp8 selection for this URL — table and chart below update if you change sequence, precision, or model in the controls.)
Chip pricing (owning hyperscaler): GB200 NVL72 $1.86/chip/hr · MI325X $1.10/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 | GB200 NVL72:$0.041MI325X:$0.339 | GB200 NVL72:$0.042MI325X:$0.469 | GB200 NVL72:$0.044MI325X:$0.670 |
| Concurrency | GB200 NVL72:~2304MI325X:~20 | GB200 NVL72:~1876MI325X:~12 | GB200 NVL72:~1415MI325X:~7 |
Cost per Million Total Tokens (Owning - Hyperscaler) vs. Interactivity
Qwen3.5 397B • FP4 • 8K / 1K • Source: SemiAnalysis InferenceX™
Qwen3.5 397B • FP4 • 8K / 1K • Source: SemiAnalysis InferenceX™TCO $/chip/hr: VR200: 3.61H100: 1.17H200: 1.22B200: 1.73B300: 2.26GB200: 1.86GB300: 2.31MI300X: 0.95MI325X: 1.1MI355X: 1.5RTX6000PRO: 0.68Jalapeño (Teacup): 1.47
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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Interactivity is the rate at which a single user receives generated tokens while the model streams its answer — how quickly new words appear on screen. Higher values feel snappier; operators trade it against batch throughput.
Estimated infrastructure cost of producing one million total tokens (input + output) at this operating point, priced with the all-in hourly ownership cost of a hyperscaler operator. Lower is cheaper.
Formula: $/Mtok = all-in cost per chip-hour ($) × 1,000,000 ÷ (3,600 × total tok/s/chip)