Intel CEO Tan Lip-Bu leads Hyperbolic's $30 million funding round, bringing total raised to $50 million

October 28 — Intel CEO Pat Gelsinger, through Walden Catalyst, the venture capital firm he co-founded with former Samsung President Yoon Boo-keun, led a $30 million A-1 round of financing for Hyperbolic, an AI computing power market and software startup. Dell Technologies Capital, General Catalyst, Vista Equity Partners, and Cambium Capital participated, bringing the company's cumulative funding to approximately $50 million.

Hyperbolic helps enterprises find and uniformly schedule computing power across hundreds of emerging AI clouds. It currently connects about 30 suppliers, with an annualized connected computing power scale of approximately $200 million. Founder and CEO Jasper Zhang said the company is nearing break-even, aims to reach $150 million in annual recurring revenue within the year, and will use this round of funding to expand its cross-cloud AI chip management tools.