High-frequency trading firms spend billions chasing AI compute
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According to Bloomberg, Wall Street high-frequency trading firms such as Jane Street, Hudson River Trading, and XTX Markets are racing to spend billions of dollars building data centers and betting on chip startups, aiming to secure AI compute and use machine learning to predict market movements. Executives estimate that since the release of ChatGPT, these firms' spending on computing has grown ten to twentyfold. The report notes that this compute race has become a new trend in the high-frequency trading industry, with firms competing for computing resources through both building their own data centers and investing in chip companies, to gain an edge in algorithmic trading. The situation is still developing, with no further updates reported.
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- The DecoderWall Street's fastest traders are building data centers and backing chip startups to stay ahead in AI
High-frequency trading firms such as Jane Street, Hudson River Trading and XTX Markets are racing to buy AI compute to use machine learning to predict market moves, Bloomberg reports, with executives estimating compute spending has grown ten to twenty times since ChatGPT launched.
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