CME to Create Futures Market for Computing Power Backing AI

US derivatives exchange CME Group Inc. and index provider Silicon Data are teaming up to create a futures market for computing power, a key source driving the AI boom.

The futures will help traders, financial firms, AI builders and cloud providers manage volatility and price swings, according to a statement Tuesday. Indexes from market-intelligence firm Silicon Data will help underpin the products. The project is still pending regulatory review.