CME Group is launching the first futures market for computing power, in a sign that the AI boom is turning the output of sophisticated chips into a major asset class.
The new contracts for the future rental of graphics processing units, or GPUs, which can take months to order and can swing sharply in price, will allow investors and technology firms to bet on or hedge the future cost of computing power.
CME, one of the world’s biggest derivatives exchanges, is partnering with Silicon Data, a firm backed by Chicago-based trading giant DRW that provides pricing indices and other market data about AI computing power. The new contracts will be based on Silicon Data’s indices.