Panthalassa raises $140 million in Series B funding to manufacture ocean-powered AI computing nodes

Series B led by Peter Thiel with participation from John Doerr, Marc Benioff's TIME Ventures, Max Levchin's SciFi Ventures, and others. Funding will complete Panthalassa's pilot manufacturing facility near Portland, Oregon, and accelerate deployment of its Ocean-3 series of nodes.

Panthalassa's nodes are autonomous, floating energy systems that generate electricity from ocean waves. Rather than transmitting power to land grids, the company uses it directly onboard to power AI chips, sending inference tokens (the outputs of AI processing) to land by satellite. Ocean water provides free cooling for the chips.

In 2026, the company plans to deploy its Ocean-3 pilot node series in the northern Pacific Ocean to demonstrate AI inference capabilities, with commercial deployments planned for 2027.