Road to retirement

Today, we launched GPU compute forward curves derived from our prediction market prices. Forward curves are now available on Nvidia B200. H200, and A100 chips. Forward curves track implied future prices. They are how mature commodity markets form expectations, allocate capital, and manage risk. Energy, interest rates/SOFR, FX, metals, and agricultural markets all rely on market-implied forward prices. Despite becoming one of the key inputs in the global economy, compute has lacked that market-derived infrastructure. Compute right now is where oil was before NYMEX — traded only via OTC deals, just like oil used to trade OTC between producers and refiners. As compute becomes as fundamental to the economy as energy, the industry will need a similar derivative market to promote efficient price discovery. Prediction markets are uniquely suited to this problem. Compute is not one uniform commodity and spans many chips, grades, tenors, locations, and contract structures. A live prediction market can aggregate those dispersed views into transparent prices that reflect market expectations for different maturities. The opportunity is big. Hyperscalers are spending over $700B on compute this year and the market is expected to grow to $7-10T by 2030. If this market behaves like traditional commodity markets, a liquid derivative market could be 10-20x bigger than the underlying spot market. Compute is still not uniform enough, but this is a step towards standardization as forward curves will help us see the rise and fall of different model prices and how they correlate. The forward curve is a first step. Up next: futures and perps.

The market is not just a handful of AI/memory names. There are many other sectors and stocks acting incredibly well that most investors are missing. The rally has broadened far beyond the obvious AI and memory trade. Here are some of the key sectors and names to watch: Biotech/Healthcare $ERAS Erasca $IBRX ImmunityBio $ABCL AbCellera $QURE uniQure $HNGE Hinge Health $BTSG BrightSpring $OSCR Oscar Health Cybersecurity $CRWD Crowdstrike $FTNT Fortinet $NET Cloudflare $OKTA Okta $PANW Palo Alto Networks Robotics/Autonomy $OUST Ouster $VPG Vishay Precision $AMPG AmpliTech $OSS One Stop Systems Energy $FCEL FuelCell Energy $BE Bloom Energy $HYLN Hyliion $POWL Powell $VICR Vicor Space $SATL Satellogic $SPIR Spire Global $VSAT Viasat $ATEX Anterix Software $DOCN DigitalOcean $DDOG Datadog $APPS Digital Turbine FinTech $SEZL Sezzle $VIRT Virtu $SNEX StoneX $PURR Hyperliquid Strategies Industrials $CRS Carpenter Technology $UCTT Ultra Clean E-commerce $PTRN Pattern Infrastructure $CDNL Cardinal Infrastructure $STRL Sterling Infrastructure $AGX Argan

What Elon’s going to do to Sam Altman for scamming him and Mark Zuckerberg for copying him (Built in Grok Build)