OceanPal Secures $120 Million PIPE Investment for SovereignAI Launch
OceanPal has successfully completed a $120 million private investment in public equity (PIPE) round to establish SovereignAI, a fully owned subsidiary aimed at creating blockchain-based AI infrastructure utilizing the NEAR Protocol. This new venture positions SovereignAI as the first publicly traded platform dedicated to promoting AI sovereignty, enhancing data privacy, and developing decentralized computing infrastructure on a large scale. With this funding, SovereignAI plans to build a cutting-edge AI ecosystem that empowers developers, businesses, and institutions to create secure and user-governed artificial intelligence systems.
Leveraging NEAR’s Blockchain Framework and NVIDIA Technology
The SovereignAI platform will utilize NEAR’s scalable blockchain technology along with advanced computing capabilities from NVIDIA, facilitating confidential and decentralized AI cloud services. OceanPal envisions that artificial intelligence should operate on a transparent and decentralized framework rather than being dominated by centralized cloud service providers. By adopting blockchain for data verification and privacy-preserving computation, SovereignAI aims to foster an environment where users can retain ownership of their data and AI models while achieving enterprise-level performance and scalability.
Long-Term Strategy to Acquire NEAR Tokens
In line with its long-term objectives, SovereignAI plans to gradually acquire at least 10% of the NEAR native token supply, utilizing funds from its corporate treasury to align its economic interests with the NEAR ecosystem. This strategy will not only enhance liquidity but also encourage governance participation and foster interoperability between SovereignAI’s infrastructure and the decentralized developer community of NEAR.
Focus on Sensitive Industries: Finance, Healthcare, and Media
SovereignAI’s initial priorities will target sectors such as finance, healthcare, and media—fields where the handling of sensitive data, adherence to regulatory standards, and trust are paramount for the effective deployment of AI solutions. By merging the transparency of blockchain with secure computing for AI, the company seeks to establish a new standard for organizations in training, implementing, and managing AI models while adhering to data ownership and privacy regulations.
OceanPal’s Strategic Shift Beyond Maritime Operations
The establishment of SovereignAI is part of OceanPal’s broader shift from its traditional maritime and logistics business model. The company is positioning itself at the intersection of artificial intelligence, digital infrastructure, and decentralized finance, aiming to create sustainable shareholder value by investing in emerging tech assets. By connecting blockchain networks with advanced AI computing, SovereignAI aspires to set the groundwork for sovereign, user-controlled artificial intelligence, reducing reliance on centralized cloud services and empowering both individuals and organizations to manage AI systems safely and transparently across various industries.
Key Insights from OceanPal Executives
Sal Ternullo, Co-Chief Executive Officer of OceanPal, stated, “We believe NEAR presents the greatest asymmetric upside across mature projects in the digital asset market. This is a public company launching as an active, strategic partner with the NEAR Foundation to advance universal AI sovereignty.” David Schwed, Chief Operating Officer at OceanPal, emphasized, “Our strategy goes beyond treasury management to actively build the infrastructure enabling user-owned, privacy-preserving AI at scale.” Illia Polosukhin, Co-founder and Chief Executive Officer of NEAR Foundation, added, “We are very pleased to welcome SovereignAI to the NEAR ecosystem. We believe the NEAR Protocol’s AI-centric stack will allow user-owned AI to meet its moment.”
