Panthalassa
Panthalassa builds autonomous floating data-center nodes designed to drift unmoored in the open ocean, generating their own electricity from wave motion and cooling servers with seawater, with results returned over satellite links so there is neither a grid connection nor a cable to shore. Founded in 2016 as a public benefit corporation, it raised a $140M Series B led by Peter Thiel in May 2026 at a valuation near $1B. It is finishing a pilot manufacturing facility near Portland and has not disclosed a completed at-sea compute deployment.
Ecosystem functionThe best-funded ocean-compute play, and the only one integrating generation, cooling and compute into a single structure that answers to no jurisdiction.
Business modelWave-powered offshore compute
Sources · 3 ↓
- https://www.prnewswire.com/news-releases/panthalassa-raises-140-million-to-power-ai-at-sea-302761078.html
- https://arstechnica.com/ai/2026/05/silicon-valley-bets-on-floating-ai-data-centers-powered-by-ocean-waves/
- https://www.geekwire.com/2026/data-centers-at-sea-oregons-panthalassa-nets-140m-led-by-peter-thiel-for-wave-powered-ai/