Polychain, Lightspeed Lead $7M Fundraise for Math Olympian's Blockchain-Based AI Platform
Summary
Hyperbolic, one of the newer contenders in the race to apply blockchain tech to artificial intelligence, has raised $7 million in a seed funding round led by Polychain Capital and Lightspeed Faction. "Hyperbolics solution addresses this issue by creating a scalable system to aggregate global GPU compute and leveraging blockchain technology to ensure their network of nodes operates in a verifiable and secure manner. In the long term, the firm plans to build a "GPU marketplace" that offers developers and researchers cheaper access to cloud computing hardware for training their own AI models.The seed round included participation from Chapter One, LongHash, Bankless Ventures, Republic Digital, Nomad Capital, CoinSummer Labs and Third Earth Capital. Hyperbolic enters a growing category of startups raising big bucks to build at the intersection of AI and crypto. The pitch from Zhang a mathematics olympiad winner in China and Russia with a doctorate degree from the University of California, Berkeley isnt dissimilar from that of other crypto founders who hypothesize a radical new future where blockchains transform how AI is built and monetized.