Source: Fortune
Summary
Panthalassa, a US-based startup, has raised $140 million in funding led by Peter Thiel to develop floating data centers powered by ocean waves. The funding values the company at nearly $1 billion. Panthalassa plans to deploy its Ocean-3 system in the northern Pacific Ocean this year, with commercial deployment to follow in 2027. The company’s technology uses ocean waves to generate electricity and cool AI servers. Thiel, a billionaire investor, has previously shown interest in seasteading and ocean-based ventures.
Our Reading
The numbers tell one story.
Panthalassa’s funding is a significant investment in a new frontier for data centers. Thiel’s involvement is a notable endorsement of the company’s technology. The company’s plans for deployment and commercialization are ambitious. However, researchers have raised concerns about the risks associated with scaling subsea systems, including acoustic attacks and monitoring challenges. The future of ocean-based data centers remains uncertain.
Panthalassa’s valuation is nearing $1 billion, a significant milestone for a company still in its early stages.
Thiel’s investment in Panthalassa is a personal one, separate from his venture capital fund Founders Fund.
The company’s technology has the potential to provide a sustainable new source of energy for humanity, according to its CEO.
The ocean is becoming an increasingly attractive location for data centers, with companies like Microsoft and Panthalassa exploring its potential.
As the demand for AI computing power continues to grow, companies are looking for innovative solutions to meet their energy needs.
Author: Evan Null
