Capital Markets Infrastructure for Compute Traders
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Compute Desk is partnering with @NodalExchange to launch compute futures settled against our compute indexes.
With the compute world’s nexus to electricity and power, Nodal is an exceptional venue for AI infrastructure companies, hyperscalers and financial institutions looking to hedge or gain exposure to compute, power or the spread between them.
Reach out to @ComputeDesk to trade or hedge compute.
H/T @ForgashEmily Bloomberg: bloomberg.com/news/articles/…
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Compute Desk CTO @SenorScience presciently wrote that "B300s at B200 prices is a free option" at the end of April.
The market hadn't priced in the fact that KimiK3 would come out, uniquely suited to work on B300s. We could have sold you an option to hedge that.
"If MoE keeps scaling, toward multi-trillion-parameter models with longer context, the per-card headroom matters even more".
Here's the original article:
computedesk.substack.com/p/b…
B300 prices have broken away from the pack, one-year contract rates up >$1/hour in the last 30 days while other models are flat. The compute capacity block trades our customers have brought Architect this month are almost all B300/GB300 or VR. Few are asking for Hoppers at size.
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Thanks @Google for having @ComputeDesk × @NodalExchange. Hyperscalers can soon trade and hedge compute, stay tuned.
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Congratulations to @ronitrjain and Aarav on their seed round ! @ComputeDesk is proud to power GPU pricing indexes on @liquidcompute !
I’m excited to share that today @liquidcompute emerges from stealth with a $15 million seed round. We are announcing pending applications before the CFTC for Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) status to build the first regulated orderbook to trade both cash and physically settled contracts on compute.
The reality of compute is that it is heterogeneous and cannot be stored, functioning much like electricity rather than oil. Our approach focuses on developing a highly efficient short-term market to underpin a cash-settled derivatives layer, operating similarly to PJM or ERCOT sitting below liquid derivatives markets.
Over recent months, I’m also happy to announce that Liquid Compute has collaborated with leading financial firms like Susquehanna International Group, @BGCGroupInc and @wintermute_t to facilitate liquid OTC trading for AI startups, neocloud providers, and lenders.
This round was co-led by @chemistry and @FirstMarkCap , with participation from K8 Cap, Night Capital, @ufo_holdings, @TrueBridgeCP, Brainchild Holdings (@kalvepuri), @ycombinator, and angels such as Dmitry Balyasny, @taro_f , @JdotJdotF, Ethan Lin and others from companies like CoreWeave, Jane Street, OpenAI
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Are you financing GPU infrastructure and looking for a backstop ? Get in touch to explore how we can structure one for you.
Nvidia’s GPU backstop deals are equivalent to writing put options at the residual floor and buying a smaller notional of call options at the same strike. If Nvidia could sell GPU rental price forwards or futures they could hedge the partial synthetic long.
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Even with ~13 GW of new US power coming online for compute this year and more efficient models, the demand is still outpacing supply by a large margin.
Every one of our indices is up ~30%
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Every morning on a compute trading desk starts with working out which deals actually need you. With Compute Trader, your pipeline already knows: one's a contract away from closing, another's gone quiet for a week. Ask the agent what to chase, and whatever the deal needs gets done in the same thread.
Your desk's agent, in private beta: app.compute-desk.com
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Day 2 at @Ai4Conferences in Las Vegas. Yesterday's lines wrapped the hall; this morning the mainstage opened with Geoffrey Hinton. The Compute Desk team is here through Thursday. If you rent, sell, or price compute, come find us.
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Today we're publishing two GPU rental indices: GX Hopper US and GX Blackwell US.
Independent, daily, $/GPU-hour. Built to IOSCO benchmark principles from settled US transactions and live prices. Hopper covers H100 and H200; Blackwell covers B200, B300, GB200 and GB300.
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Every print prices the same thing: a 1-year reserved contract, performance-normalized so different GPUs count in the same units. When the index moves, prices moved.
That's what lets a market mark deals to a number, hedge against it, and finance fleets on it. Licensed for financial instruments and available on Bloomberg terminals. Live daily: app.compute-desk.com
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We are killing the compute "offtake".
ComputeConnect is growing, with 8 capacity providers onboarding and more in the pipeline. Built by Architect, @ComputeDesk, and capacity sellers/brokers, ComputeConnect is the first exchange-for-physical network linking cash-settled compute futures positions with actual capacity.
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Fink's describing the world's next great market. We're building it.
Compute futures almost live.
BLACKROCK CEO LARRY FINK SAYS A NEW ASSET CLASS IS COMING: FUTURES ON COMPUTE
"The United States is short power. We're short compute, we're short chips."
Fink sees shortages ahead across all three, plus memory. And he thinks the scarcity gets financialized: "I actually believe a new asset class will be buying futures of compute."
That is computing power described the way traders treat oil: a commodity scarce enough to hedge, price and trade. "We just don't have enough compute power right now."
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Compute Trader is live.
If you buy or sell reserved GPU capacity, your deals now have somewhere to live.
Today a GPU deal is spread across spreadsheets, chat apps and email threads. Trader runs the whole deal in one place: organize RFQs, send proposals, negotiate terms, sign contracts. Private to your team.
Not a marketplace. Your desk, your contacts, your deal flow. app.compute-desk.com
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Almost time. Get pre-onboarded on @Architect_Fi to trade compute futures. GPU rates by @ComputeDesk
PRE-ONBOARDING FOR THE AMERICAN INNOVATION EXCHANGE IS LIVE. Sign up to trade Architect’s Nvidia GPU compute futures and options. Access the first US derivatives market for compute. Competitive margin, low fees, desktop/mobile/API access, block trades supported 🇺🇸
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Today we're launching gpuspec.io.
Buying or selling GPU capacity means describing the same cluster over and over: model, count, region, fabric, term, price. It's slow to write, easy to garble, and impossible to track once it's been forwarded a few times.
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. gpuspec.io makes a compute deal shareable. Describe a cluster in about ten seconds and get a clean link with a memorable name. Anyone you send it to sees the full spec and can register interest in one click, with no account required. When you want to run the deal end to end, you claim the spec in Compute Trader. No login to make one. Try it: gpuspec.io
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Takes seconds to make one, try it out.
gpuspec.io/humble-pogona
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Compute Desk retweeted
Every neocloud today is its own broker, its own insurer, its own clearinghouse.
Not by strategy, by default: it sets its own price, eats counterparty risk, and holds price exposure for the life of the asset, because the financial layer that takes those jobs off its books is only now being built.
When it arrives, those jobs become companies.
computedesk.substack.com/p/f…
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Lock in @ComputeDesk Hopper and Blackwell rates, with compute futures contracts, soon on @Architect_Fi.
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