Futures markets for AI tokens and GPU capacity begin to emerge

The Shanghai Futures Exchange is currently designing a derivatives market for AI tokens, which serve as the fundamental building blocks and pricing units for AI model services. This initiative emerges as major US exchanges like CME Group and the Intercontinental Exchange are separately working to launch futures contracts for renting GPU compute capacity. While the American approach focuses on financializing raw computing power, China is targeting the software output layer based on actual token consumption. These competing financial frameworks aim to provide businesses and investors with vital tools to hedge against the volatile costs of AI infrastructure.

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