no benchmark

Bad day to be these guys $abxx

$ABXX just hit 50k+ volume today and got conditional approval for a TSX listing and you can still buy it under C$60. What a time to be alive.

$ABXX Abaxx has received conditional approval to list on the TSX

Re Compute futures news: I like what I’ve seen out of Silicon Data, but this contract as a futures market would be another bet against indexation (ie little reflexivity and price discovery from the actual curve - this is paper compute not physical). Thus, I’m skeptical that it could form deep liquidity and broad benchmarking status for an industry not used to hedging in the first place, and too much basis and idiosyncratic situational risk for data centre financiers to be overly reliant on it. We’re working on next generation market infrastructure that deals with actual “physical compute”, not paper compute (🆔++ and Agents++ plays into this perfectly). Just like commodity capex infrastructure, firms need off-take (quantity, not just price) guarantees to spend the Nth dollar of capital, and the natural commercial buyers will want guaranteed access when the market is in shortage (backwardation price discovery). This is the real natural utility of a future market for buyers and sellers. Right now the oil market has a similar situation to the inference compute market, there is a paper price but hard to find actual quantity without actual delivery premiums well above the “paper price”. A backwardated curve with a quantity delivery guarantee from a clearinghouse (seller of last resort) wind find the actual marginal price spikes for limited capacity (and AI companies could stop throttling demand). And with a real physical curve, like most commodities companies, data centers (and their financiers) could protect their downside by understanding the worst case scenario of “cheapest to deliver compute pricing” out the curve, but then own that upside price spike call option when markets are in shortage.