Becoming more ways to hedge or take a view on AI beyond equities and CDS. The WSJ reports Jump has launched a compute desk, trading price gaps across providers and structuring OTC derivatives. An illustrative structure: a neocloud buys a put on GPU rental rates. The article cites B300 rentals at ~$7.56/GPU-hour; Jump could agree to buy compute at $4/hour if prices fall below that level, or settle in cash. That protects the provider against a collapse in rental revenue below the strike. Susquehanna is also fielding interest in compute-index puts from data centers and private neoclouds. Some want the protection to help secure financing from lenders. Alongside planned compute futures, this is starting to become a market. Hearing more trading firms are getting involved.