The birth of GPU futures

Why the financialization of AI compute is following the same path as oil, power, and LNG

We are in the middle of the largest capital expenditure cycle in the history of computing. The hyperscalers—Microsoft, Amazon, Google, Meta, Oracle—are spending hundreds of billions of dollars to build out AI data centers. These campuses cost $10-20 billion apiece, and the growth trajectory shows no sing of slowing. For now, these buildouts are financed…