The video is a piece called Pipe Dream that was created by Wayne Lytle, and Dave Crognale and their team at Animusic, a content creation company located in Austin, Texas.

The company has created a number of quite amazing 3D computer graphics music animation videos that are available via the company website. According to information on the Animusic website:

Both the graphics and the music are entirely digitally synthesized. Virtual instruments are invented by building computer graphics models of objects that would appear to create the sound of the corresponding music synthesizer track. Graphical instruments range from being reminiscent of existing instruments to arbitrarily abstract.