Caught some news from The Information on our favorite bobbing sphere of AI compute, Panthalassa. Apparently — fresh on the heels of their recent raise — they’re raising $225 million more. Which would put their valuation in the realm of $2 billion. So it’s a unicorn. But it’s more like a narwhal.
Panthalassa, a 10-year old startup making technology that aims to generate electricity from the movement of waves and use it to run graphics processing units, is raising $225 million at a nearly $2 billion valuation after the investment, according to two people with direct knowledge of the deal. The fundraise will double Panthalassa’s valuation from just three months ago, when it raised $140 million at a roughly $1 billion valuation after the investment
According to Interesting Engineering, their latest model Ocean-3 is planned to be launched in the North Pacific in 2026. With commercial deployments in 2027.
Here’s a look at Ocean-2.
Obviously, I’m keeping my eye on the — ahem — ball with this one. So I’ll make sure to report back with any updates.
For more information, visit Panthalassa.
