Jane Street, Hudson River Trading Now Compete on AI Computing Power, Not Just Speed

This signals a structural shift in how the largest market makers define competitive advantage: raw compute capacity is becoming a strategic asset alongside latency, which historically was the sole battleground. The firms affected are the top tier of high-frequency market makers, whose infrastructure choices now carry weight beyond execution speed. The open question is whether compute depth translates into measurable advantages in market-making quality and resilience, or whether it simply raises the fixed-cost barrier to entry for smaller players.