Goldman, JPMorgan Explore Trading Compute Futures as AI Financing Hedge

Goldman Sachs and JPMorgan are exploring ways to trade on the cost of computing power, according to people familiar with the matter. That includes trading futures contracts tied to rental prices for graphics processing units, among the scarcest resources of the AI boom, which exchanges plan to list later this year.

The discussions show how the hundreds of billions of dollars pouring into data centers and chips are reshaping financial markets. For banks financing the AI buildout, futures could provide a way to manage the risk of a compute glut down the road and help their clients hedge their own compute needs.