The plunge in CoreWeave shares and the broader AI complex has investors searching for instruments to hedge their exposure. Hyperbolic, a financial technology startup led by former Citadel Securities quantitative researcher Jasper Zhang, operates a marketplace where GPU computing capacity can be bought and sold. Its Forge software connects and configures clusters worldwide, enabling physically settled futures that give contract holders direct control over the hardware. The 50-person company says it has raised 20 million dollars, counts around 250,000 users and has connected 200 million dollars of annual GPU computing capacity, while pursuing a new funding round. CME Group is also preparing cash-settled GPU futures, but Hyperbolic argues that financial settlement does not put idle processors to work during an AI demand slowdown.
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