Energy to Electrons to Intelligence
Joined February 2025
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Simon retweeted
Introducing a new form of compute financing: for 9-months offtake, not three-years.
Every GPU project gets blocked by lenders on the same first question: "Do you have a three-year offtake contract?"
But 3-year offtake sucks. You convince a customer to pay you for 3 years straight, but it means you're not making that much money as a neocloud operator.
On a 3-year B300 contract, you might get a $4.3/gpu hr rate, when you could be making $7/hr if you had a shorter contract.
And offtakers don't even want to lock-in a contract for three years. They'd much rather sign for nine months.
So it's only 3 years because lenders require it. And they require it because they want every month of debt service, or loan repayment, covered.
We’ve solved that. We can get every month covered, using a combination of offtake and residual value insurance.
And lenders will finance it with interest, not rev-share or unfair structures.
How it works:
→ 18-month loan
→ Months 1-9: covered by your short-term offtake contract
→ Months 10-18: your call. Go on demand, sell tokens, or extend the offtake
→ Month 18: if the loan isn't fully paid, the lender can sell the hardware
→ If it sells for less than expected, an A- rated insurance policy we structure pays the difference
The offtake covers the first half of the loan. The hardware value covers the second half. The insurance backstops the hardware.
It's a win-win situation for everyone.
1. Offtakers sign shorter terms that they actually want.
2. Lenders get fully covered debt service.
3. You get your GPUs, pay your loan quickly, and can go to on-demand by month 10.
Want to try it, or need a spreadsheet to show your lender? DM me or send your lender to us at amcompute.com
Simon retweeted
Announcing the Praxis Art Fellowship
The Praxis Art Fellowship offers space, resources, and a network to support artists as they create their next big project.
Selected fellows have opportunities to:
- Work from our creative studio in New York City.
- Take part in forthcoming residency programs at the eternal city in Uruguay.
- Be considered for cash grants to support your projects’ development.
We welcome artists across all disciplines and working in any medium. Tell us about your practice, your story, the project you have in mind, and the support that would help make your vision a reality.
Apply now: praxisnation.com/fellowship
Simon retweeted
GPUs are financed for years. AI workloads run for weeks.
Our Compute Market-Making White Paper explores that gap:
1. Financing shapes the short-term premium.
2. Not everyone can capture this premium.
3. Hedging reduces tail risk, but comes at a cost.
Simon retweeted
Trading firms are building desks to trade GPU compute like a commodity
Jump Trading has hired the founders of GPU trading platform Itô Markets to run a new compute desk, per Bloomberg. DRW and Vitus Commodities posted compute trading roles last month.
DRW's Don Wilson says compute could surpass crude as the world's largest commodity. CME has delayed its planned GPU rental futures.
The constraints look like power markets. Compute cannot be stored, forwards run three to five years, and the CFTC has flagged concentrated pricing power.
CoreWeave shows the credit side. It finances GPUs against offtake contracts, and Bloomberg currently says its debt prices a 60% chance of default within five years.
Compute curves will end up tied to power curves. The desks that price both will set the market.
Simon retweeted
okay not trying to fud but…
@papertrade_xyz doesn’t actually execute trades on hyperliquid. it just uses hyperliquid prices to settle synthetic positions against its own LPs, with 1000x leverage and some questionable payout asymmetry when prices gap.
my concern is what happens when enough people figure this out. or someone big decides to trigger a volatility event that could drain the LP, and leave everyone queuing for withdrawals.
using hyperliquid prices and trading on hyperliquid are two very different things. not sure if most trading on paper actually understand the difference.
Simon retweeted
When your X feed is all compute and commodities, it's time to put that Series 3 to use.
My latest Power Bytes, Future(s) of Compute is my take on whether compute futures can do what commodity markets were designed to do. 🧵
🤖 Made with AI
Simon retweeted
We announced an agreement to acquire a nationwide low-band spectrum license portfolio that will pave the way for @Starlink to become a major mobile carrier in the US.
With this new spectrum and our Gen2 constellation, Starlink Mobile can ensure Americans have access to high-speed mobile broadband no matter where they are → spacex.com/updates#starlink-…
Simon retweeted
All the lessons of my life: oussamaammar.com/lessons
Simon retweeted
Just like with oil, the market outside the majors is the true marginal market for compute.
Simon retweeted
The @CFTC just took an important step toward adopting a federal rulebook for crypto market structure: the Commission proposed rules for exchanges that let Americans trade crypto with leverage, including a new type of CFTC registration that is fit for purpose.
An exchange’s regulatory path would follow its product set: (1) state licensing for spot trading, backstopped by the CFTC's anti-fraud and anti-manipulation authority; (2) CFTC registration for leverage under rules written for crypto; and (3) the existing DCM framework for perps and other derivatives. Builders shipping code onchain, and the Americans using it, would know where they stand under federal law.
Separately, the CFTC is working directly with builders to develop lawful pathways for onchain markets in the United States, and is drafting a policy so that developers who publish software but do not take orders, control execution, or hold customer assets would not have to register as brokers.
Thank you to @ChairmanSelig and the CFTC staff for the effort behind today's proposal and for putting onchain markets on the agenda.
Simon retweeted
Introducing Core, The Personal Al Computer
The most powerful technology humanity has built should belong to you
Order today: ghost.ai
Simon retweeted
Hyperliquid built the exchange.
HyperLink is building the broker.
We raised $2.5M from @Alliance @NorthIslandVC @hi_Reverie @Node_Cap @breed_vc @smartestmoney
Lowest fees. Private flow. Best execution.
Last month: $254M routed, 0.1% of Hyperliquid volume.
Next: 10% of HL.
Simon retweeted
$IXS Primer - What is it, what is it doing. Oct 2026 edition
You should by now be starting to see $IXS mentioned by numerous accounts as one to watch. You might be wondering why and what it is. Here is a concise breakdown:
$IXS is in the process of deploying its licensed rails for RWA across all major chains.
$IXS takes RWA products, such as those from the worlds leading financial institutions like Blackrock or crypto entities tokenizing assets, and makes these available through a massive distribution network which will include leading exchanges, apps being able to make those products available to their 100s of millions of users, and opened up to AI through agentic vaults across all major chains - all whilst fully licensed and compliant.
This isn't something anyone can do overnight. Its taken years to put it all together, and its coming this Q4.
It's already launched on BNB, next up is RH, then BASE, and all other major chains. It's going to play a major role in the RWA scene you are currently seeing start.
The story so far:
👉 ICO in late 2021, back then known as IXSwap, an RWA AMM and launchpad concept to validate their tech in the pre-Trump anti-crypto anti-RWA bleak era.
👉 Launched by a team of experts in finance, legal, compliance, with all the licences needed to do RWA.
👉 Backed by Coinbase Ventures, UOB Venture Management, and others
👉 Advised by Gabriel Abed, chairman of the board at Binance, and Balaji Srinivasan, former CTO of Coinbase
👉 With the arrival of Trump in 2025 and a pro crypto White House and SEC, the company pivoted into a larger institutional orientated vision now that the door was open and the RWA era begins.
👉 Through 2025 IXS developed its platform into a licensed layer 0 API for RWA. A simple integration so that anyone (or AI agent) or any company can bypass the years of setup for compliance and legal in order to get licensed to do RWA, and lets them offer RWA products to all their users. It's like the stripe of RWA.
👉 IXS isn't just offering the licensed rails, they're building a distribution network with products from major financial institutions for anyone to offer their users.
👉 Through 2025 and 2026 they systematically began building this, in a multi-pronged effort:
- 1. Attaching the platform to institutional grade custody infrastructure
- 2. Getting RWA products from major institutions (Bonds, treasuries, private credit) onto the platform who will trust that infrastructure
- 3. Getting crypto exchanges, apps, sites to integrate with it and offering those products to their users, and open it up to AI agents
👉 In April 2026 IXS announced they partnered with @BitGo - One of the largest institutional holders of BTC. The degree of DD that would have been involved in this on the part of BitGo in order to agree to this indicates the level IXS is operating at.
👉 Together with BitGo theyve developed a BTC yield product specifically aimed at institutions that allows them to deposit their BTC and earn on it via IXS RWAs, which BitGo itself co-marketing and pitching it to its 1500+ institutions clients.
👉 IXS has also announced they are partnering with wBTC, which holds $8.5B in BTC, to make it available for BTC real yield by wBTC holders.
👉 In 2026 theyve also launched IXS USA to prepare to fully tap into the opening US market and secured the backing of Flowdesk who themselves received 100M in funding from Blackrock for RWA.
👉 Understanding that the future of most economic activity is going to be conducted by AI agents, IXS also began its Agentic Vault rollout.
👉 This allows any AI agent to use the IXS RWA vaults, depositing funds and earning on products from financial institutions such as Blackrock, Fidelity, Franklin Templeton.
👉 Binance announced in July 2026 that IXS's RWA Agentic API is now live on BNBChain
👉 Binance also announced last week that IXS vaults are now on the Binance app.
👉 Next comes Robinhood and BASE and the rollout to other major chains.
👉 Developing partnerships with agentic market (launched by Coinbase) circle.agent (launched by Circle) and many other new platforms and services in order to expand usage of the API
👉 In advanced talks with multiple major exchanges to integrate IXS tech so that the exchanges users can put their funds into RWA products to earn on their holdings
👉 Existing integrations from 2025 that will soon make use of all these incoming assets.
- LINE (The WhatsApp of Asia with 180M users, initially announced in 2025 with further details of the next phase coming soon)
- UnionChain (An RWA exchange with over 20M KYC'd users being developed and launched by the former CFO of Binance, which will use IXS tech)
👉 In the latest AMA in July 2026 they announced they are in advanced talks with a Tier 1 fund with over 1 trillion in assets to bring it aboard.
👉 The token operates a 20% buyback and burn on fees and when you factor in what that can do on just 1 of these upcoming integrations, the supply shock and PA potential is significant.
👉 Significant announcements coming in Q4
👉 Currently 20M FDV
CA:
0x73d7c860998CA3c01Ce8c808F5577d94d545d1b4
Simon retweeted
Most of us don't have access to multi-million dollar NVIDIA gpu sleds (if you do, hit me up).
But I wanted to learn how they work, so i build a 3d guide!
Unified GPU / CPU systems like this are what's powering all these mega-ai DCs. Incredible what educational tools you can build with llms.