Silicon Data, the independent data and transparency layer for the compute economy, and Syntax Data, an institutional index provider and financial data and technology company, today announced that Syntax has been appointed index calculation agent for Silicon Data's benchmark index family covering GPU and AI infrastructure markets.
The appointment brings independent, third-party calculation to a set of benchmarks that increasingly serve as reference rates for a new asset class. Compute – the processing power required to train and run AI models – has historically traded through bilateral, opaque, and highly fragmented arrangements, with pricing that varies materially across providers, regions, hardware generations, and contract structures. Silicon Data's rental indices, benchmarks, and forward curve have become reference points that allow that exposure to be measured, priced, and increasingly hedged.
As market moves from price discovery toward risk transfer, standards applied to underlying benchmarks rise accordingly. Under arrangement, Syntax will perform daily index calculations operating under documented methodologies, independent controls, and audit and oversight processes consistent with institutional benchmark practice. The structure deliberately separates index sponsor and methodology owner from calculation agent – governance model long established in equity, fixed income, and commodity benchmarks.
"Compute is becoming a market in full sense of word – with price discovery, forward curve, and growing set of participants who need to manage exposure rather than simply absorb it," said Carmen Li, Chief Executive Officer of Silicon Data. "Getting governance right is what allows data to carry institutional weight. Working with Syntax as index calculation agent gives market independent, auditable process behind benchmarks."
"Every asset class that matures into hedgeable market does so on back of trusted benchmark," said Bruce Traan, President and Chief Operating Officer, Indices, at Syntax Data. "Compute is now at that inflection point, presenting one of most compelling frontier problems in indexing today. Silicon Data has done hard work of making compute measurable; Syntax is focused on making resulting benchmarks calculable, repeatable, and defensible."
The collaboration is intended to support continued expansion of compute-linked products, including listed derivatives, structured solutions, and index-linked instruments referencing compute pricing. Both firms expect benchmark family to broaden as new hardware generations, contract tenors, and adjacent inputs – including inference and token-level pricing – become established components of AI infrastructure cost stack.
About Silicon Data
Silicon Data is building the independent data and transparency layer for the compute economy. Founded in 2024, the company publishes real-time pricing indices, benchmarks and analytics for GPU and AI infrastructure markets, turning fragmented market activity into standardized, institutional reference data.
About Syntax Data
Syntax Data is a financial data and technology company that empowers investment managers, wealth advisers, and financial institutions with precise, transparent data solutions that optimize index development, portfolio customization, and investment analysis to drive better investment outcomes.
