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Bitcoin

BTC

$USD 98,334.84

0.83%



XRP

XRP

$USD 2.34

9.33%



Dogecoin

DOGE

$USD 0.40

1.27%



Ethereum

ETH

$USD 3,724.24

0.86%



Cardano

ADA

$USD 1.07

8.57%



USDC

USDC

$USD 1.00

0.01%



Solana

SOL

$USD 225.35

6.05%



Avalanche

AVAX

$USD 45.89

3.26%



Shiba Inu

SHIB

$USD 0.00

6.08%



Uniswap

UNI

$USD 16.18

4.22%



Bitcoin

BTC

$USD 98,334.84

0.83%



XRP

XRP

$USD 2.34

9.33%



Dogecoin

DOGE

$USD 0.40

1.27%



Ethereum

ETH

$USD 3,724.24

0.86%



Cardano

ADA

$USD 1.07

8.57%



USDC

USDC

$USD 1.00

0.01%



Solana

SOL

$USD 225.35

6.05%



Avalanche

AVAX

$USD 45.89

3.26%



Shiba Inu

SHIB

$USD 0.00

6.08%



Uniswap

UNI

$USD 16.18

4.22%

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Companies·A.I.


AI COMPANY HYPERBOLIC RAISES $12 MILLION IN SERIES A FUNDING ROUND LED BY
POLYCHAIN CAPITAL AND VARIANT

BYCatherine McGrath
December 10, 2024 at 6:00 AM HST
 * 
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 * 
 * 

Jasper Zhang and Yuchen Jin founded Hyperbolic in 2022
Courtesy of Hyperbolic


The artificial intelligence industry has been increasingly dominated by large
corporations like Microsoft and Google. That makes it tough for smaller outfits
to compete, especially when so much of A.I. relies on expensive graphics
processing units, or GPUs, for computing power. 



That access gap is where one company sees a market opportunity, and a chance to
even the playing field. Hyperbolic is a platform that provides computing power
to small A.I. companies by buying unused time on GPUs from data centers and
individual machines, and selling that to developers. It just raised $12 million
in a Series A funding round led by Polychain Capital and Variant, bringing their
total raised to $20 million. 

“You only use a Mac maybe eight hours a day. So, the rest, 16 hours, you just
let it sit idle,” CEO and co-founder of Hyperbolic Jasper Zhang told Fortune.
“And if GPUs are such an important resource to power A.I. development, then why
don’t we better utilize it and build a more sustainable ecosystem?”

Zhang, a 29-year old math Ph.D, and Yuchen Jin, an A.I. researcher and engineer,
co-founded Hyperbolic in 2022 after many of their friends were unable to access
a sufficient number of GPUs to run their models. The San Francisco-based company
also helps developers access open source large language models (LLMs) including
Meta’s Llama, and is developing its own blockchain and native token expected to
launch next year. The idea is that customers will use the token to rent GPUs,
and users who supply their unused GPUs will get paid in the token. 

Hyperbolic’s services are already being used by Hugging Face, Quora, Cornell
University, UC Berkeley and others, according to the company. Zhang said he
plans to use money from the new funding round to expand Hyperbolic’s payroll,
building out the engineering, strategic and go-to-market teams. 



“In the future, A.I. will be integrated with every system: transportation,
finance, social media, robotics and even your brain,” Zhang said. “Such
highly-important innovations should be owned by the human society, instead of
controlled by a few centralized companies.”

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