‘We’re now ready’: Peter Thiel-backed company raises $1bn to send data centers out to sea to harness ‘tens of terawatts of new capacity potential’ in the power of the open ocean
techradar.com May 8, 2026

‘We’re now ready’: Peter Thiel-backed company raises $1bn to send data centers out to sea to harness ‘tens of terawatts of new capacity potential’ in the power of the open ocean

AI-summarised brief · reviewed before publication

Panthalassa, a US-based ocean technology company, has raised $1 billion in funding to send data centers out to sea, harnessing the power of the open ocean. The company, backed by Peter Thiel, plans to use wave energy technology to generate electricity and power AI chips directly at sea, bypassing grid constraints and cooling challenges. With a valuation near $1 billion, Panthalassa aims to provide a sustainable new source of energy for humanity.

💡 Why It Matters

  • · Harnessing the open ocean's energy potential can unlock vast amounts of power, rivalling solar and nuclear energy.
  • · Ocean-based data centers can also reduce reliance on land-based energy systems, overcoming limitations on computation and energy generation.