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We build and invest in the companies and ideas shaping the frontier. Led by @matthuang and @alanapalmedo.

San Francisco, CA
Joined July 2010
Photo by Paradigm (@paradigm)Photo by Paradigm (@paradigm)Photo by Paradigm (@paradigm)Photo by Paradigm (@paradigm)Photo by Paradigm (@paradigm)Photo by Paradigm (@paradigm)Photo by Paradigm (@paradigm)
24 hours left to submit your story for GPU World. $100K in prizes. Judged by @nealstephenson, @gwern, and @matthuang. gpuworld.org
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Paradigm retweeted
trade[XYZ] and ICE, owner of the New York Stock Exchange, are joining forces to bring 24/7 perpetual futures on Hyperliquid to the United States. In just over a year, our markets on Hyperliquid have surpassed $650 billion in volume. They provide continuous price discovery for stocks, indices, and commodities, and have become trusted reference points for retail and institutions alike when traditional markets are closed. Much of the world trades them. Until now, Americans could only watch. We intend to change that. Subject to CFTC approval, trade[XYZ] and ICE plan to establish a new, dedicated U.S. market, with novel exchange and clearing infrastructure built on Hyperliquid. Planned contracts span equities, indices, commodities, FX, and crypto, with access through participating brokers and platforms. We’ll share more on products, eligibility, and timing as approvals progress. ICE brings more than 25 years of experience operating regulated markets, clearing, and managing risk. trade[XYZ] brings the product development, market design, and technology behind the most liquid and robust markets on Hyperliquid. Innovation and the protections of U.S. regulation shouldn’t be a trade-off. Together, we plan to prove it. ICE is making a strategic investment in trade[XYZ] and joins us in building towards the future of Hyperliquid. A small group of market luminaries is joining as well, beginning with Stan Druckenmiller. For more than four decades, few investors have anticipated the great turns in markets as often as Stan. We’re proud to have him with us for the next one. We’re building the U.S. market in parallel with our existing HIP-3 markets, which we’ll continue to expand and innovate on. We expect both to flourish. They each have a long road map ahead, from new asset classes to new ways to trade them. To the Hyperliquid community, whether you were here before us or came because of us, thank you. You took a chance on new markets and you made them matter. You’ll forever be a part of this story. Anything. Anytime. On ICE[XYZ].
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Intercontinental Exchange (ICE) and trade[XYZ] have announced their plan to use Hyperliquid as the infrastructure layer to deploy perpetual futures markets for US traders across crypto, equities, commodities, foreign exchange, and other real-world assets, subject to regulatory approvals. ICE operates NYSE and some of the largest exchanges and clearing houses globally. In this structure: + Hyperliquid serves as the underlying technology infrastructure via HIP-3* + trade[XYZ] designs and implements the markets + ICE operates the regulated market and clearing structure Existing trade[XYZ] HIP-3 markets will remain unchanged. Hyperliquid is a neutral infrastructure layer with the goal of supporting large parts of the financial system. As with HIP-3, HIP-3* deployers are independent operators who use Hyperliquid as the onchain infrastructure layer for their own markets, while retaining control and responsibility over their deployment.
trade[XYZ] and ICE, owner of the New York Stock Exchange, are joining forces to bring 24/7 perpetual futures on Hyperliquid to the United States. In just over a year, our markets on Hyperliquid have surpassed $650 billion in volume. They provide continuous price discovery for stocks, indices, and commodities, and have become trusted reference points for retail and institutions alike when traditional markets are closed. Much of the world trades them. Until now, Americans could only watch. We intend to change that. Subject to CFTC approval, trade[XYZ] and ICE plan to establish a new, dedicated U.S. market, with novel exchange and clearing infrastructure built on Hyperliquid. Planned contracts span equities, indices, commodities, FX, and crypto, with access through participating brokers and platforms. We’ll share more on products, eligibility, and timing as approvals progress. ICE brings more than 25 years of experience operating regulated markets, clearing, and managing risk. trade[XYZ] brings the product development, market design, and technology behind the most liquid and robust markets on Hyperliquid. Innovation and the protections of U.S. regulation shouldn’t be a trade-off. Together, we plan to prove it. ICE is making a strategic investment in trade[XYZ] and joins us in building towards the future of Hyperliquid. A small group of market luminaries is joining as well, beginning with Stan Druckenmiller. For more than four decades, few investors have anticipated the great turns in markets as often as Stan. We’re proud to have him with us for the next one. We’re building the U.S. market in parallel with our existing HIP-3 markets, which we’ll continue to expand and innovate on. We expect both to flourish. They each have a long road map ahead, from new asset classes to new ways to trade them. To the Hyperliquid community, whether you were here before us or came because of us, thank you. You took a chance on new markets and you made them matter. You’ll forever be a part of this story. Anything. Anytime. On ICE[XYZ].
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Paradigm retweeted
Meta + Paradigm open challenge to optimize Muse Spark Top prize is $50K + an H200 signed by Meta team
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10 days left for GPU World, the story competition from Neal Stephenson, Gwern, and me. What happens when frontier per-GPU capabilities diffuse?
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Okay it’s happening: - Added 160k square feet in Reno for our automated high volume lines and parts up to 5’x10’. Operational now. - Added 170k square feet in Pittston PA for 1-day shipping (or faster) to the Northeast US. Landing machines and growing the team now. - Southeast US is next (flying out next week to negotiate a lease). 3 more leases in 3 more states to sign after that. Expect massive lead time reductions across our factory network. - Finalizing our first acquisition and working on the second and third. These are services you’ve been asking for. More coming. We’ll be able to say yes to more of your BOM. - Welding is ramping nicely. More assembly support soon. - More materials and capabilities for CNC machining in development now, including much smarter pricing. Increased capacity will also help us cut lead time drastically. - Added 450 people so far this year. Hopefully double that in 2027. - Candy and merch budgets have been tripled. …And we’re just getting started. That’s a big part of why we raised again: to build more, ship faster, and make manufacturing easier and more accessible. I’m doing my best for ya. I love you guys. Big thanks to @willreed at @sparkcapital , @caitlinbolnick1 at @CRV, @marksugarman at MHS, @andrew__reed at @sequoia and @matthuang at @paradigm for supporting our Series B (and the extra rocket fuel) LFG!!!!! 🇺🇸
I'm back in Reno after a few days of visiting customers. Holy shit, I'm pumped. Now is the time: I’m building the largest, fastest, vertically integrated manufacturing company in North America. Full-scale contract manufacturing that is accessible to EVERYONE. - speedy like a startup - millions of sq ft of capacity - all the capabilities you need - world class UI/UX/service/support - High mix, low volume - High mix, high volume - Low mix, low volume - Low mix, high volume America is manufacturing again, and I'm gonna provide the engine. Fuck it, we ball 🇺🇸🇺🇸🇺🇸🇺🇸🇺🇸
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Introducing: The Claw While you were setting up your OpenClaw we set up a physical claw machine in our office and hooked it up to the Tempo blockchain Play it yourself, or train your own robotics model to play it and climb the leaderboard 🧵
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Day 2 at Frontiers. Watch the Day 3 livestream below.
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Opening night at Frontiers. Watch the Day 2 livestream below.
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Day 1 at Frontiers. See the recap: paradigm.xyz/frontiers-2026/…
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Research output is going superexponential. 2/3 of arXiv papers are now written with AI. @notnotstorm breaks it down with data: paradigm.xyz/research/public…
new data report on the recent superexponential publication boom we measure the boom across 5 million papers + 2.5 million researchers + 7000 institutions + 15 data sources here are the top 7 chart takeaways
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Paradigm retweeted
4 weeks to go for GPU World, the story competition from Neal Stephenson, Gwern, and me. $100K in prizes. Submit your story!
GPU World: A story competition from Neal Stephenson, Gwern, and me. The AI future is unevenly distributed. What would the world look like with AI broadly diffused, such as if we had one GPU per person? 1000-5000 words, fiction or non-fiction. $100K in total prizes. gpuworld.org
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PK9 and PK10 have fallen and the Paradigm Kryptos challenges are complete Congrats to @LazlosBatForm, @forwardsecrecy, and the rest of the PK Solvers Club As well as Opus 5.5, which made the final breakthrough Now on to K4!
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Live discussion with @danrobinson and @MTSlive on pacing the frontier
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After nearly six incredible years building spacecraft, I’m beginning a new chapter as an entrepreneur in residence (EIR) at @paradigm. Varda was a grand adventure and a one of one experience I’ll cherish forever. I had the rare privilege of joining the founding team and helping take a wild idea from zero to one, from a blank sheet of paper to hypersonic vehicles coming home from orbit. I’m incredibly proud of what we built together. Thank you to Will, Delian, and the whole team. Paradigm is giving me something incredibly cool. I’ll have the freedom to search for the next important thing worth building. This might look like a radical departure, but I see it as a chance to step back, look broadly, and follow my curiosity. An EIR sits somewhere between researcher, inventor, and founder in waiting. Paradigm feels like a natural home for that kind of exploration, full of earnest nerds who pair deep technical curiosity with research. My role is to explore important problem spaces, develop conviction, run experiments, and eventually turn the most promising direction into something real. In many ways, it feels like a natural extension of my hobbies and passion projects. I’ll be in SF during the week and LA on weekends. I want to use that time to meet as many interesting people as I can. Let’s get coffee and talk about energy, compute, artificial intelligence, and manufacturing. I want to hear about your most ambitious ideas and deepest technical rabbit holes.
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We built a game to demonstrate the difficulty of pacing the frontier, based on a new paper from @andrewjkoh and @DrewFudenberg Play online now and work your way up the leaderboard!
Can you pace the frontier? @danrobinson and I made a multiplayer game inspired by a game theory paper from @andrewjkoh where you play an AI lab. Racing ahead increases your profits… but also the risk Try to beat the computer — or your mutuals online :) paradigm.xyz/research/pace/
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