Hyperbolic, a four-year-old AI infrastructure startup, has raised $30 million in an A-1 funding round backed in part by Intel CEO Lip-Bu Tan through Walden Catalyst, the venture firm he co-founded with former Samsung president Young Sohn. The round, which also drew participation from Dell Technologies Capital, General Catalyst, Vista Equity Partners, and Cambium Capital, pushes Hyperbolic's total funding to $50 million as it builds software to help businesses navigate a fractured market of AI cloud providers.
Why the AI cloud market is so fragmented
Companies seeking computing power for AI workloads increasingly turn to "neoclouds" - smaller cloud providers that specialize in renting out GPU capacity. The problem, according to Hyperbolic founder and CEO Jasper Zhang, is that these providers each combine different chips, networking setups, and software stacks, forcing customers to negotiate and integrate separately with every vendor they use. "This is a highly fragmented market, which makes the customer experience very painful," Zhang said.
Hyperbolic's platform acts as an intermediary, letting businesses source computing capacity from roughly 30 partner neoclouds - including WhiteFiber and Vector Core Compute - through a single point of access. The company says its software currently manages the equivalent of about $200 million in computing power annually.
Reselling unused capacity
Beyond aggregating supply, Hyperbolic is building a mechanism for customers to resell computing power they've already purchased but don't need. Zhang, a former quantitative researcher at Citadel Securities, says this resale function could eventually support more formal trading structures, as Wall Street firms examine ways to treat AI chip capacity as a financial asset - potentially including futures-style contracts tied to compute availability.
Growth plans and funding history
Hyperbolic previously raised a $12 million Series A in 2024, led by Variant and Polychain Capital, following an initial $7 million seed round. The company says it has already reached profitability and is targeting $150 million in annual recurring revenue by the end of this year. It plans to grow to roughly 50 employees in the same timeframe, using the new capital to expand the software tools that let businesses manage AI chip usage across multiple neocloud providers simultaneously.
Hyperbolic reports more than 250,000 developers use its platform, including teams from Modal, Higgsfield, and Daytona. As demand for AI computing continues to outpace available supply in many markets, startups like Hyperbolic are betting that simplifying access to fragmented infrastructure will become as valuable as the underlying hardware itself.