According to Coinness, financial news outlet Web3 AI cloud startup Hyperbolic has announced the completion of a $12 million Series A funding round, led by Variant and Polychain Capital. Other investors include Chapter One, Lightspeed Faction, Bankless Ventures, GSR, IOSG, Vertex, Blockchain Builders Fund, Wintermute, Alumni Ventures, Ambush Capital, and several angel investors. With this investment, Hyperbolic has raised a total of $20 million. The new funds will be used to expand the engineering and strategic teams and enter the market. Hyperbolic plans to launch its own blockchain next year. The company plans to integrate global GPU computing resources with blockchain technology to provide the market with verifiable, secure, and reliable AI services, effectively alleviating the industry's pain points of high computing resource costs and uneven distribution. Additionally, the company has launched a decentralized orchestration layer, Hyper-dOS (Hyperbolic distributed operating system), which provides solid technical support for the entire GPU market.