ICE plans compute futures contracts as Wall Street races to turn GPU power into a tradable commodity
TL;DR
ICE, the owner of the New York Stock Exchange, is partnering with index provider Ornn to launch cash-settled futures contracts tied to GPU computing costs. The move comes days after rival CME Group announced its own compute futures, signalling that Wall Street is racing to turn AI computing power into a standardised, tradable commodity.
Intercontinental Exchange, the parent company of the New York Stock Exchange, is preparing to launch futures contracts tied to the cost of computing power, marking the latest sign that Wall Street sees AI infrastructure as the next great commodity market.
ICE announced on Monday that it will team with Ornn, a financial-infrastructure firm whose index products track GPU computing costs in real time, to develop the new contracts. The futures will be US dollar-denominated, cash-settled, and referenced against Ornn’s indexes covering a variety of major GPU types. The plans remain subject to regulatory approval.
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