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Careers

We are building a research and trading business for AI compute markets. Open roles are listed below; to apply, email contact@rheostat.ai with the role in the subject line.

Open roles

5 positions

Director of Origination — Compute Markets

Position overview

We are seeking a Director of Origination to lead institutional relationship development and identify commercial and trading opportunities across the emerging AI compute market.

The individual will build relationships with GPU infrastructure owners, neoclouds, hyperscalers, market makers, exchanges, infrastructure investors, and traditional commodity trading firms.

The role will focus initially on expanding the firm's institutional network, supporting research distribution, and developing a detailed understanding of physical and financial compute-market activity. As the firm builds its proprietary trading operation, these relationships will help inform trading strategies and identify potential counterparties.

Key responsibilities

Develop and maintain relationships with institutional participants across the AI compute and commodity trading ecosystems.
Identify and engage neoclouds, GPU owners, hyperscalers, data-center operators, AI enterprises, infrastructure funds, proprietary trading firms, and energy-market participants.
Build an institutional network capable of providing insight into compute supply, demand, pricing, and available capacity.
Develop relationships with exchanges, benchmark providers, market makers, clearing firms, and financial institutions entering compute markets.
Understand the commercial structure of physical compute agreements, including GPU-hour pricing, contract duration, reservation terms, deposits, prepayments, and counterparty exposure.
Identify potential opportunities involving compute forwards, futures, structured transactions, and other financial instruments as markets develop.
Work with quantitative researchers and senior management to understand counterparty requirements, potential hedging needs, and emerging sources of liquidity.

Qualifications

5–10+ years of experience in institutional sales, commodity origination, derivatives, energy trading, infrastructure finance, or financial-market business development.
Established relationships with institutional investors, commodity trading firms, exchanges, brokers, or infrastructure market participants.
Strong understanding of physical commodity markets, forward contracts, derivative instruments, and institutional risk management.
Experience negotiating complex commercial arrangements and building long-term counterparty relationships.
Ability to understand GPU infrastructure economics and communicate technical concepts to financial-market participants.
Excellent interpersonal skills, negotiation ability, and commercial judgment.
Previous experience developing a new market, financial product, or trading business preferred.

Apply

Chief Compliance Officer (CCO)

Position overview

We are seeking an experienced Chief Compliance Officer to establish and oversee the firm's compliance framework as we develop our AI compute research business and prepare for proprietary trading.

The CCO will be responsible for identifying regulatory obligations, implementing internal policies, managing compliance risks, and ensuring the firm has the appropriate controls in place before entering new markets or executing proprietary transactions.

The ideal candidate will have experience in commodities, financial derivatives, or proprietary trading and be comfortable developing compliance procedures for a new and evolving asset class.

Key responsibilities

Develop and maintain internal compliance policies covering research publication, proprietary trading, conflicts of interest, employee conduct, and recordkeeping.
Work with legal counsel to determine the firm's regulatory obligations under applicable CFTC, NFA, SEC, FINRA, and exchange rules.
Assess the regulatory implications of new products and trading strategies, including compute futures, OTC forwards, swaps, and structured contracts.
Establish procedures for reviewing external research and ensuring appropriate disclosures, source verification, and market-data usage rights.
Oversee counterparty due diligence, including financial, legal, sanctions, and operational reviews, with KYC/AML procedures implemented where required.
Develop trade surveillance, position-monitoring, and market-conduct policies appropriate to the firm's activities.
Coordinate with the quantitative and trading teams to implement pre-trade controls, exposure limits, escalation procedures, and trading-strategy approval processes.

Qualifications

5–10+ years of experience in regulatory compliance, ideally at a proprietary trading firm, commodity trading house, broker-dealer, hedge fund, or derivatives business.
Strong understanding of commodities regulation, futures and OTC derivatives, and applicable CFTC/NFA requirements.
Experience developing compliance programs, implementing internal controls, and reviewing trading-related regulatory risks.
Familiarity with counterparty due diligence, market surveillance, financial-market disclosures, and conflicts-of-interest management.
Excellent written communication, organizational skills, and the ability to interpret complex regulations in a practical business setting.
Relevant FINRA/NFA registrations or professional compliance credentials preferred where applicable.

Apply

Institutional Sales Associate — Compute Markets

Position overview

We are seeking an Institutional Sales Associate to support the firm's institutional outreach, research distribution, and business development efforts within the AI compute industry.

The associate will work closely with the Director of Origination to identify prospective institutional relationships, understand market participants, and communicate the firm's research and market insights.

This role provides exposure to the developing financial markets surrounding compute, including physical GPU capacity transactions, compute pricing benchmarks, and emerging derivatives markets.

Key responsibilities

Research prospective institutional relationships across neoclouds, infrastructure providers, hedge funds, commodity trading firms, data-center operators, and financial institutions.
Support senior management in developing and maintaining relationships with existing and prospective institutional contacts.
Distribute market research, pricing commentary, and industry reports to institutional audiences.
Prepare presentations, market updates, counterparty profiles, and meeting materials.
Track developments involving GPU pricing, physical compute transactions, exchange products, and financial-market activity.
Maintain a detailed database of institutional contacts, relevant market participants, and business development activity.
Coordinate introductory calls, meetings, conferences, and follow-up communications.
Gather nonconfidential market feedback regarding compute supply, demand, pricing, and institutional interest in financial products.

Qualifications

1–4 years of experience in institutional sales, financial research, commodity markets, investment banking, trading support, or business development.
Bachelor's degree in Finance, Economics, Business, Mathematics, or a related discipline.
Strong interest in AI infrastructure, financial markets, and the development of compute as a commodity.
Basic knowledge of futures, forwards, commodity pricing, and institutional trading concepts.
Strong proficiency in Microsoft Excel, PowerPoint, and research/database tools.
Excellent written and verbal communication skills, attention to detail, and organizational ability.
Ability to explain complicated technical and financial subjects clearly and concisely.
Familiarity with GPU infrastructure, cloud computing, or energy markets preferred.

Apply

Vice President, Quantitative Research — Compute Markets

Position overview

We are seeking a Vice President of Quantitative Research to lead the development of pricing models, market analytics, and quantitative trading strategies for the emerging AI compute commodity market.

The role will focus on developing methods to value GPU compute capacity across different hardware generations, contract durations, providers, and market conditions.

Because standardized compute derivatives markets are still developing, the successful candidate must be comfortable building models in markets with limited price history, fragmented liquidity, and significant uncertainty.

The VP will help establish the firm's quantitative research infrastructure while developing models and risk analytics that can eventually support proprietary trading.

Key responsibilities

Lead the development of quantitative pricing frameworks for GPU compute capacity, forward agreements, futures, and potential structured compute transactions.
Develop internal fair-value models and forward curves using observed rental prices, hardware economics, supply-demand forecasts, and other relevant market inputs.
Analyze relationships between GPU rental pricing, utilization, hardware depreciation, electricity costs, financing expenses, and data-center economics.
Evaluate price differences across hardware generations, geographic regions, providers, network configurations, and contract maturities.
Build statistical models to estimate volatility, correlations, basis risk, and the sensitivity of compute prices to fundamental market developments.
Design and evaluate prospective proprietary trading strategies, including relative-value, calendar-spread, and cross-market opportunities.
Develop scenario-analysis, Monte Carlo simulation, and stress-testing frameworks for illiquid or structurally complex markets.
Establish model-validation procedures and documentation standards to ensure pricing assumptions are transparent and defensible.

Qualifications

5–8+ years of experience in quantitative research, derivatives pricing, commodity trading, or financial risk modeling.
Advanced degree in Mathematics, Statistics, Financial Engineering, Physics, Economics, Computer Science, or a related quantitative discipline strongly preferred.
Advanced proficiency in Python and experience with statistical modeling, numerical optimization, simulation, and time-series analysis.
Demonstrated ability to develop pricing models in markets where observable forward prices are limited or unavailable.
Strong knowledge of derivative valuation, forward-curve construction, volatility, and risk management.
Experience working with commodity markets such as electricity, natural gas, freight, emissions, or other markets with significant physical constraints preferred.
Ability to communicate quantitative findings and assumptions to traders, management, and research professionals.
Familiarity with GPU hardware, cloud infrastructure, and compute economics preferred but not required.

Apply

Associate, Quantitative Research — Compute Markets

Quantitative Research & Trading Strategy
Associate
Reports to Vice President, Quantitative Research

Position overview

We are seeking a Quantitative Research Associate to support the development of analytical tools, pricing models, and market-data infrastructure for AI compute markets.

The associate will collect and analyze pricing information, help develop quantitative research models, and contribute to the firm's understanding of GPU rental markets and emerging compute-related financial products.

The position offers an opportunity to work at the intersection of quantitative finance, commodity markets, and AI infrastructure.

Key responsibilities

Collect, clean, validate, and maintain historical GPU rental pricing and compute-market datasets.
Develop automated processes for obtaining and organizing data from licensed marketplaces, price providers, public filings, and approved industry sources.
Assist in the construction and maintenance of internal compute forward curves, volatility estimates, and valuation models.
Analyze GPU rental pricing across hardware generations, contract lengths, regions, and infrastructure providers.
Conduct statistical research into the relationship between compute pricing and factors such as electricity costs, utilization, supply growth, and hardware depreciation.
Support the development and testing of quantitative trading strategies.
Build Python-based analytical tools, dashboards, and automated research workflows.
Perform backtesting, sensitivity analysis, and scenario modeling under the supervision of senior quantitative researchers.

Qualifications

1–4 years of experience in quantitative analysis, financial research, data science, trading analytics, or a related field.
Bachelor's or Master's degree in Mathematics, Statistics, Economics, Finance, Computer Science, Engineering, or a comparable quantitative discipline.
Proficiency in Python, particularly pandas, NumPy, and statistical analysis libraries.
Strong understanding of probability, regression analysis, statistics, and financial modeling.
Familiarity with futures, forwards, financial derivatives, or commodity market fundamentals.
Strong Excel skills and experience working with financial datasets.
Ability to interpret data, recognize inconsistencies, and communicate findings clearly.
Interest in AI infrastructure, GPU computing, and emerging commodity markets.
Experience with SQL, APIs, financial data platforms, or cloud computing preferred.

Apply