AI chip startup Hyperbolic raises $30 million in Series A-1 funding.

AI chip startup Hyperbolic has raised $30 million in Series A-1 funding, led by Walden Catalyst, with participation from Dell Technologies Capital, General Catalyst, Vista Equity Partners, and Cambium Capital, bringing its total funding to $50 million. Hyperbolic's platform has an annual connected computing power value of approximately $200 million, and it aims to achieve annual recurring revenue of $150 million by the end of the year. This round of funding will be used to expand its AI chip management tools across neocloud. (Source: Business Insider)