Intercontinental Exchange CEO Jeff Sprecher says the effort to create a market for trading AI computing capacity is moving ahead cautiously. Futures markets usually rely on a clear spot price, but the largest AI companies negotiate private contracts, leaving limited public pricing data.
Sprecher said lenders financing data centers may eventually require borrowers to lock in GPU prices. A separate obstacle is government pressure: the Trump administration pushed Kalshi to scrap a GPU price tracker in September, Semafor reported, amid concerns that publishing prices could hurt the US in its competition with China.
Why it matters
For data-center companies seeking loans, lenders could make locking in GPU prices a condition of financing, but it remains unclear whether a public compute market can develop amid Washington’s concerns.
