Exchanges plan futures markets tied to AI tokens and GPU rental

In short: Big financial exchanges are preparing new “futures” contracts tied to AI tokens and rented GPUs, treating AI computing like a tradable commodity.

What's going on

Several large exchanges are working on new markets connected to the cost of running AI. Reuters reports that China’s Shanghai Futures Exchange is designing a derivatives market for AI tokens.

A futures contract is a deal to buy something later at a price agreed today (like locking in the price of wheat months before harvest). In this case, the “something” is linked to AI usage, measured in tokens, or to rented GPUs.

GPUs are the computer chips that do a lot of the heavy lifting for AI. CME Group and Intercontinental Exchange, which owns the New York Stock Exchange, have separately said they are working on futures contracts for renting GPUs.

There is already a growing cash market for renting GPUs by the hour. AI Mining Co., which tracks prices across many marketplaces, said median hourly prices for Nvidia H100 chips ranged from $1.40 to $4.27 across 13 marketplaces, and average H200 prices ranged from $2.34 to $5 across 10 marketplaces.

Tokens are the small units AI systems use to read and write text (like counting letters and words for billing). Many AI companies charge by the token. TechCrunch notes that OpenAI, for example, charges $5 per million input tokens and $30 per million output tokens for its latest GPT-5.5 API.

What to watch

If token and GPU futures take off, businesses that rely on AI could use them to plan budgets and reduce surprise cost spikes. Regulators may also pay closer attention, since futures markets can attract speculation as well as practical “price locking.”

Source: TechCrunch AI