Traci Alloway

Just on the compute exchange side of things, if someone is buying off the spot market, how do you guarantee, I'm not sure quality is the right word for this, but how do you guarantee they're getting what they expect?

Let's stick with the oil analogy for a second.

You know, there's a few benchmarks that we all know about.

There's Brent, there's WTI, there's others, but those are the two that we talk about.

If we transpose this to chips for a second, okay, let's say you have an H100 index.

We did an episode of the podcast last week, I think, with the CEO of Cerberus, which is another- It's an amazing company, yep.

Yeah, but they're a different, another type of chip for inference.

Is your assumption that these indices are going to be close enough to the cost such that if you're, okay, I'm running inference maybe on some service or TPUs or training, whatever, some of these others, that an H100 index will be good enough as a hedging instrument?

You mentioned volatility just then.

I mean, the reason people need to hedge is because of volatility.

Are you seeing enough of that in GPU prices that this model makes sense?

Because if it's just a steady line up or steady line down, it's going to be a kind of boring market.

I'm always fascinated by, like, you know, we look at the Bloomberg terminal, for example, and there's a price on the screen and it's just there.

And we started taking for granted that like it had to come from somewhere.

And maybe some commodities have like a, you know, there's an existing exchange and a public price.

And then there's also a lot of commodities, just bilateral trades.

What is the actual process by which you collect the most recent data?

So if you say, OK, an hour of H100 usage costs x, whatever it is right now, how did you assemble that number?

How did you gather that information from, say, the inference providers?

But do you call them up?