Carmen Lee
speaker
95 appearances
2 recordings
1 series
first heard May 2026
last heard 18 May
Carmen Lee’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 2 in all, peaking in May 2026 with 2.
Appearances
It's incredibly important.
I'm glad that I came in this week.
It's an exciting week for the Semi industry as a whole.
As you mentioned, energy spend, we're probably going to spend over $10 trillion this year.
Think about the spot market, from the energy to co-location to the servers themselves.
Everything is at a commodity level.
You need financial infrastructure to hedge, to manage your risk exposures.
Think about the banks, right?
They're underwriting trillions of dollars of loans.
How do they manage their risk exposure?
How do they hedge their future volatility as compute going online?
So from a commodity point of view, think about how oil futures, the wonderful job for people hedging oil fluctuation, especially during the Iran war time.
So it's incredibly important to have futures.
You mentioned the banks, but who else would be the players involved in such a market that need to be hedging right now?
So think about people who naturally long GPUs, so the data center themselves, NeoCloud, design houses, fabs, everyone long GPU exposure.
They want a way to hatch it through short futures or put options.
Whoever needs compute, just like you and me,
AI startups, they spend billions of dollars on GPUs.
They need to hatch their cost as a big component to a line item.
Traditionally, SaaS companies, they do not really have a cost line item,
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