Hyperbolic Labs raises $7M for its blockchain-based AI network to use idle GPU capacity

July 30, 2024: Hyperbolic Labs Secures $7M for Blockchain AI Network - Hyperbolic Labs raised $7M to develop a blockchain-based AI network utilizing idle GPUs from PCs and data centers. Led by Polychain Capital and Lightspeed Faction, the funding will enhance AI accessibility and reduce costs. The network uses blockchain for security and allows users to monetize unused GPU power. CEO Jasper Zhang aims to democratize AI services affordably and transparently.