The AI Boom Needs a Market for Compute, Just Like Oil and Spectrum - Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Americas+1 212 318 2000 EMEA+44 20 7330 7500 Asia Pacific+65 6212 1000 Just as oil futures and spectrum auctions unlocked waves of investment, turning compute into a tradable commodity will be needed to fuel AI’s next stage. Illustration: Erik Carter for Bloomberg There’s money — really big money — in selling compute, the processing power driving the AI revolution. Hyperscaler CoreWeave Inc. is worth more than $50 billion even as its losses are projected to increase tenfold this year, to $650 million. Oracle Corp., meanwhile, recently added some $250 billion to its market capitalization overnight after revealing the size of its upcoming order book. What’s unclear is whether those valuations are based on a scarcity thesis — that demand is likely to outstrip supply for years to come — or an abunda

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Americas+1 212 318 2000 EMEA+44 20 7330 7500 Asia Pacific+65 6212 1000 Just as oil futures and spectrum auctions unlocked waves of investment, turning compute into a tradable commodity will be needed to fuel AI’s next stage. Illustration: Erik Carter for Bloomberg There’s money — really big money — in selling compute, the processing power driving the AI revolution. Hyperscaler CoreWeave Inc. is worth mo