Panthalassa Raises $140 Million to Build AI Computing Network at Sea

Panthalassa has raised $140 million in Series B financing led by Peter Thiel, announced in a press release. New investors include John Doerr, Marc Benioff's TIME Ventures, Max Levchin's SciFi Ventures, and Hanwha Group, among others, with returning support from Founders Fund and Lowercarbon Capital.

The funding will complete Panthalassa's pilot manufacturing facility near Portland, Oregon, and accelerate deployment of its Ocean-3 series of autonomous nodes. These floating systems generate electricity from ocean waves and use it on board to power AI chips, transmitting inference results to land by satellite.

The company has developed its ocean power and computing technology over the past decade, with earlier prototypes proving performance in open water. Panthalassa plans to deploy its Ocean-3 pilot series in the northern Pacific Ocean in 2026, refining its production process ahead of commercial rollout in 2027.

By operating offshore, the platform provides additional computing capacity without adding strain to terrestrial power grids or requiring new land-based data centers. The ocean environment also enables natural cooling, extending chip lifetimes and improving energy efficiency.