---
title: 'Panthalassa rides the AI wave to a purported $2B valuation'
date: '2026-08-06T13:09:45-07:00'
type: post
word_count: 220
char_count: 1657
tokens: 286
categories:
  - Portland
---

# Panthalassa rides the AI wave to a purported $2B valuation

Caught some news from [The Information](https://www.theinformation.com/articles/ocean-powered-data-center-startup-set-double-valuation-2-billion?rc=q5rgng&shared=fcbf63c7858acd06) on our favorite bobbing sphere of AI compute, Panthalassa. Apparently — fresh on the heels of their [recent raise](https://siliconflorist.com/2026/05/04/quietly-raising-one-of-the-largest-rounds-in-portland-startup-history-panthalassa-140m-series-b/) — 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](https://interestingengineering.com/videos/this-startup-is-putting-ai-data-centres-in-the-middle-of-the-ocean-powered-by-waves), 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](https://panthalassa.com/).

More Oregon startup news
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