Research
Research & perspectives
Notes from operating the market: where term paper is actually clearing, and how compute credit is getting structured.
Hedging Compute Prices
If you buy compute, own GPUs, or lend against them, you are exposed to the price of compute whether or not you intended to be.
Stanley Lee
Compute Is Already Trading
The same GPU rents at three prices depending on how long you commit, and that ordering is a term structure people have already started trading.
Stanley Lee
Investing in the Middle Market for Compute
Why profitable, high-utilisation operators still can't get financed below the hyperscale tier, and what actually carries a compute credit structure.
Stanley Lee
Public AI Credit Just Repriced. The Compute Market Is Next.
150 basis points moved in ten weeks without a single rate card changing, and the adjustment has already started.
Ronit JainNew research goes out on LinkedIn first.
Index prints, term structure, and how compute credit is getting structured. If you operate capacity or lend against it, that is the feed to be on.