How to read this page
AI runs on rented computing power, memory chips and electricity. Their prices are set every day by the companies that rent, make and sell them, and those prices reach the stocks before they reach any earnings report. This page puts each input next to the companies whose business depends on it.
The GPU rental index
The index follows what it costs to rent the data-center GPUs that AI work runs on: the H100, H200, B200 and A100 80GB. Every day we record each cloud’s and marketplace’s cheapest on-demand price for each card, per GPU per hour, and each of those is one price line. The index moves by the average change in the lines that quoted both today and on their previous day, so a provider starting, stopping or missing a day never moves it; only a change in someone’s price does. Marketplace medians built from fewer than three offers are left out. It started at 100 on the first day of our price history.
The H100 and B200 tiles show the cheapest on-demand rate, averaged over seven days, as the GPU price page does. Their change is measured the same like-for-like way as the index, because an average across providers jumps whenever one of them stops quoting.
The memory chip price
The DDR5 figure is what the eight chips in a standard 16GB stick cost on the spot market, from the weekly settlement of contracts on a regulated prediction market. The memory price page has the full history, the market’s odds for the months ahead and an official index going back to 2000.
Why these stocks
Each stock is listed with one line on how its business is tied to the input: it makes the chip, rents it out, publishes one of the prices we track, or sells the power. That is a statement about the business, not a view on the stock. Plenty of other companies are exposed to the same prices; these are the most direct links we can state plainly.
The comparison charts put each input against an equal-weight basket of its stocks, both set to 100 on the first day of the input’s history. Equal weight keeps the largest company from drowning out the rest. The charts show the two side by side and claim no cause: stocks also move on earnings, rates and everything else.
Power
New data centers need electricity the grid has to find. The power trackers show live demand and generation by grid, electricity prices by state, nuclear plants offline and the power plants being built and retired. Our grid history is still short, so this page doesn’t chart it yet.