MoonRunner

asymmetric moves

[MoonRunner @0xmoonrunner]

S&P 500 / S&P DJI indices:
- $1.85 bn revenue
- 71% operating margin

MSCI indices:
- $3.13 bn revenue
- $1.37 bn EBITDA
- 76% EBITDA margin

benchmark franchises are some of the highest quality businesses in finance

now it's time to build them for the AI economy

[MoonRunner @0xmoonrunner]

the best thing to happen in British politics since Boris’ ancient curse

[MoonRunner @0xmoonrunner]

big progress on the compute front

[Brett Harrison @BrettHarrison]

Announcing ComputeConnect, the financial industry’s first exchange-for-physical (EFP) network for compute, coming soon from Architect and @ComputeDesk. ComputeConnect links US exchange-traded compute futures to compute capacity delivery.

Exchange-listed cash-settled compute futures are entering US markets to correct course on the current AI economy, reorienting debt to long-term growth:

• Creating price discovery and transparency independent of any single capacity provider.
• Establishing a forward curve for measuring deprecation and forecasting supply and demand.
• Providing financial hedges for compute consumers and producers.
• Enabling hedge funds, ETF companies, and traders to gain long and short financial exposure to compute.

US cash-settled compute futures lack a physical delivery mechanism, and ComputeConnect fills this gap.

Existing physically settled futures such as energy and agriculturals require their clearing house (DCO) to set a uniform standard for the grade and delivery method for the underlying commodity. Compute, by contrast, is highly fragmented, heterogeneous, and rapidly evolving, making it infeasible for any single DCO to define and enforce comparable standards.

ComputeConnect establishes a network of compute capacity providers and links the network with Architect’s US futures products using exchange-for-physicals (EFPs), OTC contracts in which futures positions are exchanged for the assets the futures track. EFPs allow counterparties to negotiate the grade, timing, location, and other characteristics of the commodity along with a basis tied to the futures settlement price.

ComputeConnect will

• Build a network of capacity providers and capacity marketplaces.
• Establish an open protocol for members of the network to receive delivery requests and advertise available GPUs.
• Publish standard basis tables for different SKUs, memory configurations, and locations for GPUs.
• Book the futures legs of the transactions to Architect’s DCM, the American Innovation Exchange.
• Facilitate and guarantee delivery of capacity using Compute Desk’s ComputeClear platform.

The advancement of US AI is constrained at every link in the supply chain: materials, power, chips, capital… The American Innovation Exchange, ComputeConnect, and our industry partners aim to secure compute’s dominance as an American asset class.

[MoonRunner @0xmoonrunner]

@SenorScience @BrettHarrison Congrats, great to see it

[MoonRunner @0xmoonrunner]

@BrettHarrison @ComputeDesk great move, congrats

[MoonRunner @0xmoonrunner]

true, they’ll in the end converge to some type of one standard but that standard should be representative of the actual underlying (where the depreciation and model roadmap is the hardest thing to tackle i think)

more innovation is needed in designing that standard and once it clicks with market participants because it genuinely addresses their needs, it will win

ofc it may never happen and we will settle at broader gpu hour as it is now

but defo worth exploring it

[MoonRunner @0xmoonrunner]

S&P 500 / S&P DJI indices:
- $1.85 bn revenue
- 71% operating margin

MSCI indices:
- $3.13 bn revenue
- $1.37 bn EBITDA
- 76% EBITDA margin

benchmark franchises are some of the highest quality businesses in finance

now it's time to build them for the AI economy

[MoonRunner @0xmoonrunner]

should we expect compute benchmark wars in the near future?

Full article: https://t.co/BYc34HGr5q

[MoonRunner @0xmoonrunner]

that's why this market is still wide open

compute doesn't have its Brent, CDX or S&P 500 yet

it doesn't even have its agreed reference grade

there is still space for other players, ready to tackle the GPU standardisation problem

[MoonRunner @0xmoonrunner]

Americans should be banned from Asia

the level of noise they generate is off the scale in any polite society

[MoonRunner @0xmoonrunner]

that one needed contribution from the Europeans to the US

[🇫🇮✸⌘Lucien Lambent⌘✸🇫🇮🇪🇪🇲🇳🇭🇺 @LambentLucien]

Holy shit. Europeans single handedly ended America's tipping culture.

[MoonRunner @0xmoonrunner]

@defido @solana Lmaooo

[MoonRunner @0xmoonrunner]

@RichardPtardio a rather splendid read

thank you and eager for more

[MoonRunner @0xmoonrunner]

@DeepDishEnjoyer aaand back to volatility (like it never ended)

[MoonRunner @0xmoonrunner]

@brian_armstrong Brian Armstrong leading space colonisation politics was not on my bingo cards but I give my full support

[MoonRunner @0xmoonrunner]

the intelligence may be becoming abundant but budgets never will

Full post: https://t.co/1hi4I9tDP7

[MoonRunner @0xmoonrunner]

the tokenmaxxing era is over and CFOs are coming for your AI spend

in the world where budget constraints matter
the focus shifts from superior frontier intelligence
to cheapest acceptable intelligence

and the cost-conscious, open-weights (often Chinese) models are quietly winning the race

[MoonRunner @0xmoonrunner]

@elliereeves can’t wait for when these kids will get the right to vote

who do you think they’ll vote against when they get a chance? labour will be out for another 50 years

thanks for educating the new generation about the value of freedom and fight against surveillance

[MoonRunner @0xmoonrunner]

despite the general enthusiasm at @superai_conf in Singapore, “budget constraints” and “cost factor” were repeated over and over

time of reasonable ai enterprise spent is upon us

what does it mean for compute?

new blog posts incoming

(back from an operational break)

[unusual_whales @unusual_whales]

"Businesses are increasingly concluding that the value of the AI model is not worth the extravagant costs," Ron DeSantis has said

[MoonRunner @0xmoonrunner]

the problem with the international world order was that it was guaranteed by the promise of the US not going insane

but it did

so now it’s just pure game theory