Injective Launches First Nvidia GPU Derivatives Market on H100 Rental Rates

Injective has launched what it calls the first onchain derivatives market for Nvidia’s H100 GPU rental rates, letting traders speculate directly on the hourly cost of one of the world’s most in-demand artificial intelligence chips.

The market, powered by Squaretower, tokenizes access to GPU rental prices, providing a real-time feed from top compute providers. This allows decentralized finance (DeFi) traders and AI builders alike to hedge exposure to GPU costs or speculate on shifts in demand for compute power.

Why the Nvidia H100 Matters

The Nvidia H100 GPU is one of the most advanced chips available for AI and high-performance computing. It is widely used by:

• Enterprises training large language models
• Cloud providers renting out compute power
• Research labs conducting deep learning experiments

Equipped with technologies like the Transformer Engine and NVLink, the H100 has become the industry standard for scaling generative AI. Its rising demand has also made it one of the most expensive GPUs on the market, with hourly rental prices tracked closely by both AI startups and enterprise developers.

Injective enables GPU pricing in DeFi by bridging physical infrastructure and tokenized finance.

How the Onchain GPU Market Works

The derivatives market was developed with Squaretower, a company specializing in compute markets.

Key details:

• Oracle integration: A decentralized oracle delivers real-time price feeds, updating hourly to reflect rental rates across major providers.
• Perpetual contracts: Traders can take long or short positions on the H100’s rental price, similar to existing crypto perpetual futures.
• Liquidity access: By tokenizing GPU prices, Injective turns compute power into a tradable onchain asset.

This market is designed not just for speculation, but also for risk management. AI developers can hedge against future cost increases, while traders gain exposure to one of the fastest-growing parts of the digital economy.

The Role of Squaretower

Squaretower plays a critical role in powering the H100 rental rate market. The company specializes in converting compute infrastructure into onchain assets.

• Its custom oracle ensures accurate hourly pricing data.
• The system draws prices from multiple compute providers to reduce manipulation risks.
• By providing continuous feeds, Squaretower enables Injective’s perpetual contracts to mirror real-world GPU rental costs.

This setup makes the market useful not only for crypto-native traders, but also for AI businesses seeking a hedge against fluctuating GPU expenses.

Injective’s Push Into AI-Linked Assets

The H100 market is the latest step in Injective’s broader strategy to merge AI infrastructure with DeFi. Other initiatives include:

• iBuild platform – lets users create financial dApps with simple text prompts.
• iAgent SDK – a toolkit for deploying onchain AI agents that handle predictive analytics, automated trading, and cross-chain execution.
• Onchain equities and assets – Injective already offers tokenized access to stocks such as Nvidia, Meta, and Robinhood, along with commodities like gold and silver, and forex markets.

Together, these tools position Injective as a platform not just for crypto trading, but also for tokenizing real-world assets and AI-driven markets.

Institutional and Ecosystem Developments

Injective has built momentum with a series of recent milestones that align with its new H100 market:

• Nivara Chain Upgrade (Feb 2025): Expanded oracle support, improved RWA module design, better market security, and bridge enhancements.
• Institutional validators: Deutsche Telekom and Google Cloud both joined as validators, adding enterprise-grade security and analytics access.
• Tokenized funds: Partnerships with Nomura’s Laser Digital and Libre bring funds like the BlackRock Money Market Fund and Hamilton Lane Credit Fund onchain.
• TradFi Stock Index: Tracks hundreds of public companies with 24/7 trading and up to 25x leverage on Injective’s Helix DEX.

These steps show Injective’s consistent focus on making traditional and emerging assets tradable in decentralized markets.

The Bigger Picture: AI Meets DeFi

The launch of H100 derivatives highlights the growing overlap between artificial intelligence and decentralized finance. With AI infrastructure costs surging, tokenizing compute resources offers new opportunities:

• For AI developers: A way to stabilize operating costs.
• For DeFi traders: A new asset class tied to real-world demand.
• For institutions: A model for turning infrastructure into liquid financial instruments.

By tying AI compute power to onchain markets, Injective and Squaretower are opening a segment that could expand as demand for GPUs continues to rise.

Conclusion

Injective’s new Nvidia H100 GPU rental rate derivatives market represents a direct link between AI compute demand and onchain finance. Through Squaretower’s oracle-powered feeds, traders can now speculate on or hedge against the hourly cost of renting one of the most important chips in AI.

This move adds another layer to Injective’s strategy of tokenizing real-world assets, alongside stocks, commodities, forex, and structured funds. The impact of Injective's new financial instrument will depend on how AI builders and traders adopt it. Injective has created a decentralized finance infrastructure that integrates AI infrastructure.

Resources:

1. Injective’s Onchain NVIDIA GPU Derivative Market announcement: https://blog.injective.com/injective-releases-the-first-ever-onchain-nvidia-gpu-derivative-market/

2. Injective’s iAgent release announcement: https://blog.injective.com/iagent-release-the-first-injective-ai-agent-creator/

3. Injective blog: https://blog.injective.com/