Silicon Data Raised $30 Million in Series A Funding and Plans to Launch Futures Trading
The startup Silicon Data has raised $30 million in a Series A round and intends to become the price benchmark for graphics processing unit (GPU) rentals, according to TechCrunch. The company also plans to create an index that will serve as the basis for futures contracts on Wall Street.
Silicon Data plans to launch trading in computing resource futures on the CME on October 5. The launch is contingent on receiving regulatory approval.
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According to TechCrunch, annual spending on data centers and GPUs amounts to hundreds of billions of dollars. Computing resources have become the largest expense for those developing AI-based products. At the same time, there is no simple way on the market to determine the price of such resources or to hedge against risks associated with fluctuations in their value.
Steve Howe, head of research at Silicon Data, appeared on the TechCrunch Equity podcast, where he discussed the state of AI infrastructure development. In particular, the discussion focused on data that, according to the company’s assessment, contradicts pessimistic reports about the depreciation of chips and data centers that have shut down.
