Physical Futures Marketplaces
The brand-new market for compute futures. CME + Silicon Data, ICE + Ornn. How GPU-time becomes a tradeable commodity, what it changes for buyers and sellers, and the open questions about a market this young.
Chapters
00Start HereWhat compute futures are; why this guide exists in 2026.
01What Compute Futures AreThe shape of the contract — physical settlement vs financial, reference indices, GPU types covered.
02The Commodity AnalogyOil, electricity, semiconductor wafers — what compute futures borrow and where the analogy breaks.
03CME + Silicon DataThe first compute futures market. Index methodology, launch timeline, contracts.
04ICE + OrnnOrnn Compute Price Index (OCPI), the H100/H200/B200/RTX 5090 lineup, mechanics.
05How a Contract WorksSettlement, expiry, margin, the futures-curve shape for compute.
06Use CasesHedging by neoclouds, AI buyers locking forward capacity, financial speculation, basis trading.
07Risks & Open QuestionsLiquidity, index manipulation, GPU obsolescence risk, regulatory exposure.
08FutureWhat 'compute as a financial commodity' implies for the industry over 3–5 years.