Compute Capital

(USA), Inc.

Platform

Three desks. Eight portals. Trade structure pricing, indicative markets, term sheets and trade confirms.

The stack is legal, data, risk, operations, and capital — not a software product and not a listing. An institutional marketplace is what those functions make possible.

Commodity

The hour, the rental, the inference, the memory.

  • Compute minus delivered power — a spark, not a blended invoice.
  • GPU rent, inference, and memory stay separate underliers.
  • A missing print is a disruption. It is not a number the Calculation Agent invents.

Credit

The same name as the offtake, and the rental hall that has to take the load.

  • A 2014 credit confirmation sits beside the commodity ticket.
  • A hyperscale tenant and a first-time operator are not the same.
  • Loan margin is not credit protection. They are not averaged.

Capital

What is left, what is marked, and what a lender funds.

  • Residual value is leftover at a date.
  • Lease portals are markets. The original invoice is not the mark.
  • A GPU facility is taken to lenders. This firm does not write the cheque.

House rules

One underlier
A confirmation names one reference price. Two vendor series are not averaged into a mid.
Two papers
ISDA for the hedge. A credit agreement for the loan. A missed draw is not a Credit Event.
No warehouse
The firm does not hold chips, megawatts, or protection as principal.
Subject stays subject
An indication is not a commitment until the counterparty marks it.