Tokenless

Compute futures

Buying GPUs Should Work Like Buying Stocks — Carmen Li, Compute Exchange

Buying GPUs Should Work Like Buying Stocks — Carmen Li, Compute Exchange

Carmen Li, CEO of Compute Exchange and Silicon Data, makes the case for treating GPU procurement like exchange trading. She covers the neutral, verified marketplace model, its reserved, forward, token and secondary server products, and the RFQ routing system. She then examines Silicon Data's forward curves for H100 and B200, the market's expectation of rising prices, and how used GPUs are holding value well above standard depreciation.

Same GPU, 50% More Output: Why the Operator Matters — Oliver Kennon, SemiAnalysis

Same GPU, 50% More Output: Why the Operator Matters — Oliver Kennon, SemiAnalysis

Oliver Kennon of SemiAnalysis argues that GPU hours are an input rather than the product, and that the operator determines how much useful intelligence those hours produce. The talk covers serving stacks, cluster security, ClusterMAX operator ratings, rental price versus production cost, relative cost-curve positioning, and what compute grades and futures can and cannot hedge.