Yahoo Finance
May 28 (Reuters) - China is designing a futures market for AI tokens, sources familiar with the matter said, as the country potentially takes a different tack to U.S.
exchanges developing compute power futures to tap the rapidly growing appetite to hedge AI costs.
The Shanghai Futures Exchange is in the early stages of designing futures contracts for so-called AI tokens - the smallest unit of information processed by AI models, said one of the people familiar with the matter.
The Shanghai exchange's research on product design for token futures is preliminary and driven partly by the AI rivalry with the U.S., according to the first source.
The move comes as the CME Group and Intercontinental Exchange in the U.S.
are preparing to launch GPU compute futures, which are tied to the cost of renting the computing power for AI.
In contrast, the Shanghai exchange's product would be tied to AI tokens, which are used for pricing AI services.
All of these derivative products are designed for companies all along the AI supply chain to hedge against the cost of computing power.
It's too early to tell when token futures will be launched and the plan is subject to changes, said another person.
It is also not clear when the exchange would seek regulatory approval for token futures.
The Shanghai Futures Exchange, which is a hub for commodity and metals futures trading in the country, and the China Securities Regulatory Commission (CSRC) did not respond to Reuters' request for comment.
China is expected to debut compute futures in three to five years, brokerage Baocheng Futures said in a research note issued earlier this month, though it noted that the current fragmented market was an obstacle to the plan.
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