Instruments
Every instrument on Tradable Compute, one page each: what it is, its place in the compute economy, the terms of the contract, what to read beside it, how it trades from this site, and its risks.
Updated Markdown
Every instrument on Tradable Compute has a page of its own, in one shape: what the underlying is, its place in the compute economy, the terms of the contract, what to read beside it on Market Data, how it trades from this site, its risks and its sources. The Documentation link over each row's chart opens that row's page. How every instrument is executed, funded and charged is written once, on Tradable Compute.
Compute futures#
- Silicon Data H100 Rental Index Futures (NVIDIA H100 80GB SXM, futures): Cash-settled against SDH100RT, Silicon Data's daily H100 rental index.
- Silicon Data B200 Rental Index Futures (NVIDIA B200 180GB, futures): Cash-settled against SDB200RT, Silicon Data's daily B200 rental index.
Compute finance#
- CHIP perpetual (USD.AI): The governance token of USD.AI, a protocol that lends dollars against GPUs and pays depositors from the interest.
Decentralized compute#
- RENDER perpetual (Render Network): The token of the Render Network, a marketplace that rents idle GPUs for rendering and AI work.
- IO perpetual (io.net): The token of io.net, which pools GPUs from independent operators into clusters for AI work.
- TAO perpetual (Bittensor): The token of Bittensor, a network that pays for machine-learning work in its own token.
Neoclouds#
- CRWV perpetual (CoreWeave): A perpetual on one share of CoreWeave (Nasdaq: CRWV), a neocloud that rents NVIDIA GPUs to AI labs and hyperscalers.
- NBIS perpetual (Nebius): A perpetual on one share of Nebius Group (Nasdaq: NBIS), a neocloud building GPU clusters in Europe and the US.
- IREN perpetual (IREN): A perpetual on one share of IREN (Nasdaq: IREN), a bitcoin miner turned GPU cloud.
- NCLD perpetual (Roundhill Neocloud ETF): A perpetual on one share of the Roundhill Neocloud ETF (Nasdaq: NCLD), a basket of GPU-as-a-service and AI datacenter companies.
Hyperscalers#
- ORCL perpetual (Oracle): A perpetual on one share of Oracle (NYSE: ORCL), the fourth hyperscaler in GPUQuant's reference price and one of the largest GPU buyers.
- MSFT perpetual (Microsoft): A perpetual on one share of Microsoft (Nasdaq: MSFT), whose Azure GPU list prices are one of the four legs of GPUQuant's reference price.
- GOOGL perpetual (Alphabet): A perpetual on one Class A share of Alphabet (Nasdaq: GOOGL), whose Google Cloud GPU list prices are one of the four legs of GPUQuant's reference price.
- AMZN perpetual (Amazon): A perpetual on one share of Amazon (Nasdaq: AMZN), whose AWS GPU list prices are one of the four legs of GPUQuant's reference price.
Compute inputs#
- DRAM perpetual (Roundhill Memory ETF): A perpetual on one share of the Roundhill Memory ETF (Cboe: DRAM), a basket of memory makers.
- MU perpetual (Micron): A perpetual on one share of Micron (Nasdaq: MU), one of the three makers of the HBM stacked on every accelerator.
- SKHY perpetual (SK hynix): A perpetual on one SK hynix ADS (Nasdaq: SKHY), a tenth of one Korean common share, of the largest HBM supplier to NVIDIA.
- SNDK perpetual (Sandisk): A perpetual on one share of Sandisk (Nasdaq: SNDK), the NAND flash maker spun out of Western Digital, for the storage under every cluster.
Accelerators#
- NVDA perpetual (NVIDIA): A perpetual on one share of NVIDIA (Nasdaq: NVDA), which designs the H100 and B200 this site prices.
- AMD perpetual (AMD): A perpetual on one share of AMD (Nasdaq: AMD), whose Instinct accelerators are the main alternative to NVIDIA's.
- AVGO perpetual (Broadcom): A perpetual on one share of Broadcom (Nasdaq: AVGO), which designs the hyperscalers' custom accelerators and the networking between them.
Foundry & equipment#
- TSM perpetual (TSMC): A perpetual on one TSMC ADS (NYSE: TSM), five Taiwan common shares, of the foundry that fabricates and packages every NVIDIA and AMD accelerator.
- ASML perpetual (ASML): A perpetual on one share of ASML (Nasdaq: ASML), the only maker of the EUV lithography machines the leading-edge fabs run.