- China’s Shanghai Futures Exchange is designing futures contracts tied to “AI tokens” (units that price AI services) — a different approach from U.S. exchanges planning GPU compute futures.
- AI tokens, which measure compute usage, have surged (official data: daily use up ~1,000x to 140 trillion) and could become a new asset class for hedging AI costs.
- The plan is early and regulatory timing is unclear, but it underscores the growing China–U.S. financial and technological rivalry over AI and compute supply.
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