Intel CEO leads a $30 million bet on a startup aiming to unite hundreds of neoclouds. Read its pitch deck.

Intel CEO leads a $30 million bet on a startup aiming to unite hundreds of neoclouds. Read its pitch deck. Intel CEO Lip-Bu Tan, Hyperbolic founder Jasper Zhang, and Walden Catalyst partner Shankar Chandran. Luke Dietz Intel CEO Lip-Bu Tan is backing an infrastructure startup that has raised $30 million to help companies rent compute across hundreds of different AI cloud providers.Hyperbolic, an AI chip marketplace and software startup, has raised $50 million to date.Walden Catalyst, the venture capital firm founded by Tan and former Samsung president Young Sohn, led the Series A-1 funding round. Dell Technologies Capital, General Catalyst, Vista Equity Partners, and Cambium Capital also participated.As companies scramble for computing power, one challenge is that AI cloud providers, or neoclouds, use a mix of different chips, networking, and software. Hyperbolic helps customers find compute resources from different providers and creates software that makes it easier to use them all, rather than dealing with each one separately."It's been a really fragmented market that makes the customer experience really painful," said 31-year-old founder and CEO Jasper Zhang.Hyperbolic also wants to let customers resell compute that they're paying for but no longer need.The four-year-old startup works closely with about 30 neoclouds, including WhiteFiber and Vector Core Compute. It says it has roughly $200 million worth of compute connected to its software annually.Hyperbolic previously raised a $12 million Series A round in 2024, led by Variant and Polychain Capital, following a $7 million seed round earlier that year. The company expects to have 50 employees by the end of the year and will use its funding to expand software tools for managing AI chips across different neoclouds.Zhang said the company is aiming for $150 million in annual recurring revenue by the end of the year and is already breaking even. More than 250,000 developers, including teams at Modal, Higgsfield, and Daytona, use Hyperbolic.Before founding the company, Zhang worked as a quantitative researcher at Citadel Securities. As Wall Street explores ways to financialize AI chips, he said his startup's plans to let companies resell unused compute could help pave the way for a futures market.Here's a look at the pitch deck Hyperbolic used to raise its $30 million Series A-1. Slides have been redacted so that the deck can be shared publicly. Hyperbolic Hyperbolic Hyperbolic Hyperbolic Hyperbolic Hyperbolic Hyperbolic Hyperbolic Hyperbolic Hyperbolic Hyperbolic Hyperbolic Hyperbolic Hyperbolic Hyperbolic Hyperbolic Hyperbolic Hyperbolic Hyperbolic Hyperbolic Hyperbolic Hyperbolic Hyperbolic Hyperbolic Hyperbolic Hyperbolic Hyperbolic Hyperbolic Hyperbolic Read next Business Insider tells the innovative stories you want to know Business Insider tells the innovative stories you want to know Business Insider tells the innovative stories you want to know Business Insider tells the innovative stories you want to know Geoff Weiss is a senior reporter on Business Insider’s tech team, where he covers Nvidia and AI infrastructure. His reporting focuses on the business of AI compute, emerging startups, and the people and strategies shaping the industry.Previously, Geoff was on the media desk, covering YouTube and Netflix, and themes like the intersection of Hollywood and the creator economy. His work on Netflix’s video podcasting ambitions and Mr Beast’s lessons for Hollywood won second and first prize, respectively, at the 2025 LA Press Club Awards.Prior to joining Business Insider, Geoff was the senior editor of Tubefilter and a staff writer at Entrepreneur. He graduated from New York University with a degree in English Literature.He can be reached at gweiss@businessinsider.com, on Signal @geoffweiss.25, and on LinkedIn. Have a tip? Use a personal email address and a nonwork device; here's our guide to sharing information securely. Intel Startups Venture Capital More Pitch Deck