TLDR
- Injective launched a perpetual futures market tracking rental prices for five Nvidia GPUs, with up to 10x leverage.
- The H100 has a 40% weight in the index, followed by the B200 at 25%.
- LO:TECH builds the index hourly using a seven-day average of rental prices.
- Gartner warned that more than 80% of specialist AI cloud providers could cease operating independently by 2030.
- Microsoft is reportedly offering voluntary buyouts to about 60,000 eligible employees.
Injective has launched a perpetual futures market that tracks rental prices for five Nvidia GPUs. Traders can use up to 10x leverage.
The product is called the Super Intelligence Compute Index, or SICI. Injective said in an Oct. 26 announcement that the market is live on mainnet and uses USDC as margin.
Injective says traders can take positions on computing costs. AI developers can hedge against rising rental bills, while equipment providers can hedge against falling rental revenue.
How the index works
The index covers Nvidiaās H100, B200, H200, A100 and RTX 4090 chips. The H100 has a 40% weight, and the B200 has 25%.
The H200 carries 15%. The A100 and RTX 4090 each make up 10%.
London-based firm LO:TECH builds and prices the benchmark. It collects rental prices from compute marketplaces, including on-demand and spot listings.
Each price goes through validation and outlier checks. LO:TECH then publishes a trailing seven-day average of the hourly basket.
Each GPUās price was set to 100 at the July 22, 2026 daily fixing. The 19:00 UTC reading serves as the daily fixing.
A change to the method would create a separate version. The existing live series would stay as it is.
The launch follows Injectiveās August 2025 market tied to Nvidia H100 rental prices. The new product expands that from one chip to five.
Pressure on AI cloud providers
The launch comes as companies that rent out AI computing power face questions about returns. Gartner warned in October that more than 80% of specialist AI cloud providers could cease operating independently by 2030.
Elon Musk said Sunday that more than 200 neocloud providers could fail or consolidate. He said lenders are becoming reluctant to finance firms that depend on AI data center revenue.
Musk has financial interests in the sector through SpaceX. Its āSuper Intelligenceā business reported $7.6 billion in third-quarter revenue, up 830% from a year earlier.
Large technology firms are also trying to contain costs. Meta, which has invested more than $100 billion in AI, cut 8,000 jobs in May.
Bloomberg reported Monday that Microsoft is offering voluntary buyouts to about 60,000 eligible employees. The company has forecast about $175 billion in capital spending for 2026.
Other GPU-linked products are also emerging. Hyperliquid Policy Center asked the Commodity Futures Trading Commission on Oct. 20 for regulated compute perpetuals, and Bullish announced a $100 million GPU-backed lending facility for USD.AI on Aug. 28.
Injective said it plans to introduce another onchain financial product in the coming days.
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