In this paper, we show that the hyperintensional typed lambda calculus (HTLC) of Fait and Primiero (Journal of Applied Logics - IfCoLog Journal of Logics and their Applications, 8(2), 469–495, 2021) inspired by transparent intensional logic is equivalent to the computational lambda calculus (CLC) of Moggi (Information and Computation, 93(1), 55–92, 1991) extended by a simple axiom. We demonstrate this by first establishing a link between HTLC and propositional lax logic (PLL) which corresponds to CLC via the Curry-Howard isomorphism. Our result puts on solid formal ground a long-held assumption that there is a close connection between the notions of structured hyperintension and computation.