Pluto operates a regulated marketplace where institutional investors, AI developers, and large enterprises can trade, hedge, and price GPU compute as a commodity. It offers exchange‑listed futures, options, and customizable OTC forwards, swaps, and options that reference proprietary compute price indices, with all trades centrally cleared through a CFTC‑registered clearing organization to eliminate counterparty risk.
Funding
Funding not disclosed
Founders
Product
Problem
Enterprises and AI developers face unpredictable GPU compute costs and limited mechanisms to hedge price risk, while existing cloud markets lack transparent, regulated instruments for trading compute capacity.
Solution
Pluto provides a regulated marketplace for buying, selling, and hedging compute as a commodity. It offers exchange‑traded futures, forwards, swaps, and options that reference standardized GPU pricing indices, enabling participants to lock in rates across multiple tenors. All transactions are centrally cleared through a CFTC‑registered clearing organization, eliminating bilateral counterparty risk and meeting stringent institutional compliance requirements. The platform also supplies bespoke OTC contracts and a suite of real‑time compute price indices derived from actual executed trades, serving as reference rates for both listed and bespoke products. Access is available via direct market interfaces or API integration, supporting 24/7 trading and automated execution.
Target Audience
Primary customers are institutional investors, AI and cloud service providers, and large enterprises that require predictable compute costs and risk management tools for GPU capacity procurement.
Features
- Exchange‑listed compute futures and options with standardized contract terms and daily settlement
- Customizable OTC forwards, swaps, and options allowing tailored tenors, notionals, and settlement structures
- Proprietary compute price indices (e.g., H100, B200, A100) aggregating granular GPU transaction data for transparent benchmarking
- Central clearing and multi‑layered default waterfall to mitigate counterparty risk and protect client assets
- Full CFTC oversight as a Designated Contract Market (DCM) and Derivatives Clearing Organization (DCO) ensuring regulatory compliance
- API and direct market access for automated order entry, real‑time pricing, and integration with institutional trading systems