Intel CEO Leads a $30 Million Bet on a Startup Aiming to Unite Hundreds of Neoclouds. Read Its Pitch Deck.
Backed by Intel CEO Lip-Bu Tan's VC firm, Hyperbolic raised $30 million to make it easier for companies to rent compute across different AI clouds.
TL;DR
- Hyperbolic, an AI chip marketplace and software startup, raised $30 million in a Series A-1 funding round, bringing its total funding to $50 million.
- The funding round was led by Walden Catalyst, a venture capital firm co-founded by Intel CEO Lip-Bu Tan.
- Hyperbolic's software helps companies rent and manage compute resources from hundreds of different AI cloud providers, addressing the fragmentation and complexity of the market.
- The startup also plans to allow customers to resell unused compute capacity, which could lead to a futures market for AI chips.
- Hyperbolic works with approximately 30 neoclouds and has about $200 million worth of compute connected to its software annually.
- The company aims for $150 million in annual recurring revenue by year-end and is already breaking even, with over 250,000 developers using its platform.