Compute Crunch? Startups Aim to Financialize It

Startups including Ornn, Silicon Data, Architect and Liquid Compute are working to create standardized GPU pricing and commodities-style futures and brokerage services, with Ornn reportedly in a new funding round at a valuation of around $1 billion. The sector faces hurdles: none of the companies has obtained financial regulatory approval, CME's planned listing tied to Silicon Data's indexes has been pushed back from its October 5 target, and the CFTC has requested public comment on whether compute is standardized and liquid enough for futures. Rapid GPU depreciation and uncertainty over whether the compute shortage is permanent have led some investors to pass on deals in the space.