$CME CME Group Tape Reports
Per Ticker.id: $CME CME Group Tape Reports — 14 podcast mentions across 6 podcasts (30 days), latest 2026-08-19 15:08 UTC.
Right. So the CME, which is essentially, as I understand it, the New York Stock Exchange but for Futures trading, or one of the platforms where you could, where you could trade futures. Plans to launch Silicon Data-Linked Compute futures on October 5th, pending regulatory approval. What I don't get is like, you mentioned oil. Oil is storable, right? Um, you know, compute's not. NH100 can become technically or technologically obsolete. Data centers have a different networking, they have different power constraints. Like what makes you confident that this will be a commodity?
Rebecca Bellan — Equity · AI has a GPU pricing problem. Silicon Data wants to fix it. · 2026-08-19So a couple of things, right? I think there is a casual, understandable presumption that there needs to be storability or there needs to be some sort of tangible existence for something to be a commodity. In reality, one of the biggest contracts traded on the CME on futures contracts today is actually just the E-mini, the futures on the S&P 500. Obviously, it's all cash settled and you don't take physical delivery of a company. It's a basket of companies, the S&P 500 index, right? And all you do is at expiry, you look at the P&L, whether or not the number that you sell or bought the futures at is above or below whatever the underlying ends up at. And if it's favorable, you get a profit, and if it's unfavorable, you get a loss, and you settle at the P&L. And in fact, if you look at oil, the vast majority of oil futures contracts do not physically settle. In fact, the reason why during COVID in March 2020, or whenever the oil futures became negative, is it was exactly because people didn't want to take physical delivery. So they were paying someone else to take the futures contracts away from them at a loss, right? And that's exactly the reason why, because the world had run out of storage facility. So people who were about to take physical delivery didn't mean to, they just wanted to P&L. So with regards to compute, The reason we feel confident that this should be something that exists is because the sheer size of physical exposure this year, if you do some simple tally, just the hyperscalers, right, the Googles, AWS, and Amazons of the world are spending some $750 billion on compute. Next year, they're slated to spend something like a trillion. And that we're not even counting the non-hyperscaler spending in the rest of the world and so on. Within this number, let's, shall we say, $150 billion worth of compute changing hands because somebody needs compute at any given moment and somebody has access, that already creates a lot of, I think, the demand for trading. And the people that have exposure with compute that they're bringing onto the market, they may want to actually share some of that exposure or even hedge, right?
Steve Ho — Equity · AI has a GPU pricing problem. Silicon Data wants to fix it. · 2026-08-19Okay. And so apart from the news that you guys are trading on the CME in October, Silicon Data just raised a Series A round. Can you talk a little bit about that?
Rebecca Bellan — Equity · AI has a GPU pricing problem. Silicon Data wants to fix it. · 2026-08-19We announced that we had initial closing of $30 million. Uh, you know, it's a Series A round led by, uh, Valor and Tradies AI fund. Um, so Antonio Garcia and, uh, Gavin Baker being the headline leaders of those two. And we also have participation from many other financial institutions, you know, F Prime, Fidelity, CME itself has a venture fund participated. We also had Samsung NEXT, which is the venture arm of Samsung. There are others I have criminally left out, Tectonic and others. The reason we have actually gathered this group of investors, because we want to build out an ecosystem to actually help create a financial instrument to facilitate physical AI compute financing. And actually, eventually, we had discussed at the top of the hour how these futures contracts don't have a physical underlying. We are going towards it. We want to have physical delivery of compute. We want to build indices that is with greater compute. We have this thing called SiliconMark, which actually gives individual GPUs at individual data centers that can visit and give it a grade so that you can actually take instance of on-demand or reserved AI compute at expiration of our futures contract. That is something we are going towards in the future. We believe that With enterprise adoption of AI and inference being a much, much, much bigger portion of overall AI demand, inference is going to make compute more interchangeable. You can, in theory, take your inference job to different places, and your inference platforms of the world could pull together compute from different providers of compute also using software. It's such a case that you're going to be able to have a certain degree of fungibility, so to speak. Not perfect fungibility, but fungibility nevertheless. That you can basically say, I can have cheapest deliver of compute provided at a point, you know, of expiration for futures contracts. So that is actually what we believe to be a much, much bigger, you know, plan for the future.
Steve Ho — Equity · AI has a GPU pricing problem. Silicon Data wants to fix it. · 2026-08-19So we'll all stay tuned, but in the meantime, we'll keep an eye out for October 5th and see you guys on the CME.
Rebecca Bellan — Equity · AI has a GPU pricing problem. Silicon Data wants to fix it. · 2026-08-19Um, all right, last week with Todd Stone, we were talking about the explosion in ETF marketplace and what's coming, wrapping prediction markets inside of ETFs. And then there was a filing from a company. I don't know who this is, but Jeffrey Patak tweeted, wild, wild stuff. Filing to register 32 ETFs tied to each NHL franchise. Each ETF will invest in futures contracts tied to the CME FSPY index for the team concerned. Whatever. I hate— I hate this. Obviously I hate this.
Michael Batnick — Animal Spirits Podcast · The Best Bear Case on AI (EP. 478) · 2026-08-19It's, it's kind of funny that the NHL is the first one to do this and not the NFL or the NBA. But yes, obviously this is— it's also crazy that there is an actual futures contract created in the CME for this. Like, this is— it sounds halfway legitimate, but keep gambling out of your brokerage accounts.
Ben Carlson — Animal Spirits Podcast · The Best Bear Case on AI (EP. 478) · 2026-08-19You know, we haven't seen a formal agenda, but we can look at the attendee list and make some inferences. When I look at who's attending, it's a lot from the crypto exchange side. It's a lot from the traditional exchange side, folks like the CME, ICE, the DTCC. I think topic number one is actually going to be tokenization. As you know, there's this huge change in how we trade everything. We're going from 9:30 to 4 to 24/7. We're going from calendar futures to perpetual futures. I think we're going to talk about this mega trend of tokenization and making sure we have the rules in place for investors to do well and for America to lead on innovation.
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