High-frequency traders spend billions on AI compute and back chip startups
Major high-frequency trading firms are increasing AI compute spending—buying cloud contracts, building data centers, and investing in startups. Jane Street invested $1 billion in CoreWeave and committed $6 billion to its services, Hudson River Trading says it spends about $1 billion a year on AI, XTX is building a Finland data center, and Jane Street led funding for chip startup Etched and became its first customer.