Ian Dunning

I mean, in 2026, the price of memory has gone up.

so much that we do have concrete specific things.

I wish I put that order in a month earlier.

So it's a real thing.

Do I believe that there would be a good market with left liquidity for long-dated compute futures?

That, I guess, remains to be seen.

I don't know what I would do with a short-dated compute future.

I do think defining what compute is is pretty hard, and I have no idea what physical delivery would be.

If that is indeed of interest, because of the long-term contracts and because of how much work goes into every site, when we connect to a neocloud site, we're thinking about how to connect it back to our other sites.

Everyone's got a different networking system, the file system.

It's like with GPUs, which is all the focus, but it's also like, how is data stored at that site?

Or is it stored at that site at all?

Is there an adjacent site that all the hard drives are in?

And they're all idiosyncratic.

And I can't do anything of 128 GPUs.

I need thousands of GPUs or bust.

That's like my lot size.

And so it's very hard to see how you could kind of break that down into useful units.

But maybe it's just a spot thing.

And if it's long dated, I don't know.