NVIDIA H100 Hourly Perp (H100)
Overview
The NVIDIA H100 Hourly Perp is a perpetual index product designed to provide transparent, tradable exposure to the hourly rental price of the highly sought-after NVIDIA H100 GPU, one of the most advanced accelerators powering AI, HPC, and large-scale inference workloads.
Pricing for this product is sourced from Squaretower, a trusted compute-market intelligence platform, and updates once per hour. The index reflects market conditions across a wide range of global GPU providers, making it a reliable measure of the real-time cost of compute in the AI economy.
This product enables market participants - from institutional investors and hedge funds to AI labs and decentralized compute networks - to hedge, speculate, or benchmark against the evolving economics of GPU supply and demand.
How the Index is Priced
Squaretower’s H100 price feed aggregates and normalizes pricing data from dozens of reputable AI compute providers, capturing on-demand and inference rates.
Data Sources:
Leading centralized cloud platforms (AWS, Azure, GCP equivalents)
Specialized AI compute providers and GPU rental marketplaces
Pricing Methodology:
Aggregation: Collection of live GPU rental quotes across multiple providers.
Normalization: Adjustment for contract length, configuration, and regional pricing variations.
Index Calculation: Weighted average of on-demand pricing to reflect a representative market rate.
Index Operation and Investor Use
1. Index Usage
Benchmarking: The NVIDIA H100 Hourly Perp can be used as a standardized reference rate for compute costs, allowing AI companies to forecast operational expenses and investors to compare strategies against the broader GPU market trend.
ETFs and Derivatives: Financial engineers can design products such as ETFs, structured notes, or options based on the index, creating exposure to GPU economics without the need for physical GPU ownership.
Hedging & Risk Management: AI labs and data centers can lock in future compute costs to stabilize budgets, and trading firms can hedge exposure to AI-related equities or infrastructure tokens correlated to GPU prices.
Speculation: Traders can express a directional view on GPU demand growth, AI adoption, or supply chain constraints.
2. Performance Monitoring
Real-Time Tracking: Updated once per hour, the index reflects the most recent GPU market conditions, giving traders and analysts timely data to act upon.
Historical Data & Analytics: A full historical price series is maintained, enabling:
Long-term trend analysis
Volatility studies
Correlation analysis against AI-related equities, tokens, or compute infrastructure indexes
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