Panthalassa raises $140M Series B from Peter Thiel to build wave-powered ocean data centers for AI inference

Portland-based Panthalassa raised $140M in a Series B led by Peter Thiel, with participation from John Doerr, Marc Benioff's TIME Ventures, Max Levchin's SciFi Ventures, and Hanwha Group. The company builds autonomous floating orbs that generate electricity from ocean waves and perform on-site AI inference computing, transmitting results via low-Earth-orbit satellites. Using cold ocean water for cooling extends chip life. The company plans to complete a pilot manufacturing facility in 2026 and deploy commercial Ocean-3 nodes in 2027, targeting the growing energy bottleneck in AI infrastructure.