TLDR
- Injective launched a perpetual futures market tracking rental prices for five Nvidia GPUs, with up to 10x leverage.
- The Super Intelligence Compute Index gives the H100 a 40% weight, followed by the B200 at 25%.
- London-based 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 and post USDC as margin.
The next major financial market for AI is the price of compute.
Today, Injective is officially releasing the Super Intelligence Compute Index ($SICI), bringing a new financial primitive to the onchain AI economy.
For the first time on Injective, traders can access a diversified… pic.twitter.com/wqruy1q1Kh
— Injective 🥷 (@injective) October 26, 2026
The product is called the Super Intelligence Compute Index, or SICI. Injective announced on Oct. 26 that the market is live on mainnet.
How the index works
The index covers Nvidia’s H100, B200, H200, A100 and RTX 4090 chips. The H100 has the largest weight at 40%, followed by the B200 at 25% and the H200 at 15%. The A100 and RTX 4090 each make up 10%.
London-based capital markets firm LO:TECH builds and prices the benchmark. It collects hourly 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 GPU’s price was set to 100 at the July 22, 2026 daily fixing. The index is quoted in points, and the 19:00 UTC reading serves as the daily fixing.
If the method changes, a separate version will be created. The existing live series will stay as it is.
Injective says the product lets traders take positions on computing costs. It also says AI developers can hedge against rising rental bills, while equipment providers can hedge against falling rental revenue.
The launch follows Injective’s August 2025 market tied to Nvidia H100 rental prices. That product expanded from one GPU model to a five-chip index.
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, known as neoclouds, could cease operating independently by 2030.
Elon Musk said on Sunday that more than 200 neocloud providers could fail or consolidate. He said lenders are becoming reluctant to finance companies that depend on AI data center revenue.
Musk has financial interests in the sector through SpaceX. Its “Super Intelligence” business recently reported $7.6 billion in third-quarter revenue, up 830% from a year earlier.
Large technology firms are also trying to contain costs as AI spending grows. Meta, which has invested more than $100 billion in AI, cut 8,000 jobs in May.
Bloomberg reported on Monday that Microsoft is offering voluntary buyouts to about 60,000 eligible employees. The company has forecast about $175 billion in capital expenditures for 2026.
Other GPU-related financial products are also appearing. Hyperliquid Policy Center asked the Commodity Futures Trading Commission on Oct. 20 for regulated compute perpetuals tied to GPU rentals.
Bullish announced a $100 million facility for USD.AI on Aug. 28 to finance loans secured by GPUs. Injective said it plans to introduce another onchain financial product in the coming days.
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