We do both! Solving for the forward curve has very interesting applications in the GPU market, as depreciation is a big factor.

We have credit limits/margins in place to be posted for any forward trades which helps with the default risk, similar to other commodity markets. Users can enter the delivery timing details as they create a request, and dealers will price accordingly.

Most of the hardware has super long wait times right now (16-24 weeks), and there is no market structure today that allows to price the differential between a spot, immediately available B300 server vs one with 16-24 week lead time. Our marketplace allows to observe that.