Carmen Li's Plan to Build a Futures Market for Compute

Carmen Li's Plan to Build a Futures Market for Compute – Odd Lots

Mentioned

Bullish

NVDA— GPU prices have increased significantly, with H100 prices up 8% in the last three months and even older A100 chips up 15%, indicating strong demand and shifting supply-demand dynamics. New B200 chips maintained higher prices than expected, suggesting sustained demand for compute capacity.
CLOUDGPU— GPU resale values remain strong with H100 chips retaining 85% of value after one year and 84% after three years, contradicting depreciation concerns. Even older L40s chips still command $0.40 per GB per hour from hyperscalers, indicating sustained value and demand for compute infrastructure.
INFRA— Supply constraints remain significant as bringing new GPU capacity online is difficult and time-consuming, requiring servers (with waitlists), colocation, and optical fiber infrastructure. This structural bottleneck supports continued pricing power despite large announced investments.

Not investment advice.