CME Group Expands AI Compute Pricing with GPU Rental Indices

Introduction

CME Group has announced that subscribers can now access non-tradable forward curve pricing data for Silicon Data's GPU rental indices, covering two of the most in-demand chips in AI infrastructure: the H100 and the B200.

What the Data Actually Shows

Silicon Data's forward curves went live on April 20, 2026, and recalculate daily, projecting rates out to 36 months based on actual rental transaction data.

Market Sentiment

The underlying numbers give a sense of where the market sits right now. As of mid-October 2026, H100 GPU rentals are running between $2.53 and $2.81 per GPU-hour. B200 rentals, the newer and more capable chip, are fetching between $5.45 and $6.01 per GPU-hour.

Term Structure Rates and Implied Forward Rates

Two specific metrics sit at the core of what CME subscribers are now able to see. Term structure rates reflect the cost of locking in GPU rental capacity across different durations. Implied forward rates translate current spot and term data into what the market implicitly expects on-demand rental prices to look like at a future point in time.

Future Contracts

Futures contracts are next in line. CME Group has been preparing to launch two contracts, labeled GPU1 and GPU2, which will reference Silicon Data's H100 and B200 indices respectively. Each contract is sized at 730 GPU-hours. The planned launch date was October 5, 2026, pending regulatory approval.

Cash Settlement

Cash settlement is a meaningful design choice here. Rather than requiring physical delivery of GPU-hours, contracts settle against the index value in cash.

Silicon Data's Funding

Silicon Data raised $30.5 million in a Series A funding round in 2026, with both CME Group and DRW among the investors.