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Hyperbolic Secures $12M Series A Funding from Variant and Polychain Capital

Dec 10, 2024, 04:03 PM

Hyperbolic Labs, a firm focused on building decentralized AI infrastructure, has raised $12 million in a Series A funding round led by Variant and Polychain Capital, bringing their total funding to $20 million. The funding will be utilized to expand the company's team and scale its operations globally. Hyperbolic aims to create an open AI platform, including an open GPU marketplace where anyone can contribute their GPUs, with H100 SXM GPUs currently offered at $0.99 per hour, the lowest price available. This initiative is part of Hyperbolic's mission to make AI tools and services like compute more accessible through an open ecosystem.