Key facts
- Hyperbolic has raised $50 million to date to help companies rent compute across hundreds of AI cloud providers.
- Intel CEO Lip-Bu Tan's Walden Catalyst led the Series A-1 funding round.
- The startup's software aims to simplify the use of diverse AI cloud resources.
- Hyperbolic works with about 30 neoclouds and has $200 million worth of compute connected annually.
- The company expects to have 50 employees by year-end and is aiming for $150 million in annual recurring revenue.
Intel CEO Lip-Bu Tan is backing Hyperbolic, an AI infrastructure startup that has raised $50 million to help companies manage and rent compute resources across a fragmented landscape of AI cloud providers, often referred to as neoclouds. Walden Catalyst, the venture capital firm co-founded by Tan, led the latest Series A-1 funding round, with participation from Dell Technologies Capital, General Catalyst, Vista Equity Partners, and Cambium Capital. Hyperbolic's software aims to simplify the complex process of utilizing diverse chips, networking, and software from various AI cloud providers. The company also plans to enable customers to resell unused compute capacity, potentially paving the way for a futures market for AI chips.