Itô, a Computing Power Platform, Joins Jump Trading to Manage Computing Power Trading Business

The co-founder of the computing power and inference cost trading platform Itô, Affaan, announced that the Itô team has joined trading firm Jump Trading to manage its computing power trading business. The team will lead Jump Trading's newly established internal computing power trading desk and has already begun trading in this market. Itô aims to leverage the new contract market to help businesses address risks in centralized AI supply chains. After communicating with over a thousand funds, enterprises, venture capital firms, and related practitioners, the team is focusing on the intermediate market for computing power and inference costs. Common capacity contract terms range from 3 to 5 years, with about 30% requiring prepayment. The revenue for late seed to Series C companies is often settled monthly and based on usage, while the secondary market prices for popular chips fluctuate significantly. Affaan stated that the total contract value for related mid-sized market clusters sometimes falls within the hundreds of millions to mid-hundreds of millions of dollars range. Itô has previously built platforms as an end buyer, with team members having backgrounds in Goldman Sachs' credit basket business, open-source engineering tools, and supercomputing cluster research. Jump Trading's conditions in credit, risk control, trading experience, and hardware have led it to choose to advance this business through an in-house trading desk.

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