Panthalassa, which aims to power floating data centers using energy generated by ocean waves, raised $140M led by Peter Thiel, source says at a $1B valuation (Tim Bradshaw/Financial Times)

Panthalassa has secured $140M in funding to develop floating data centers powered by ocean wave energy, achieving a $1B valuation with backing from prominent investors like Peter Thiel. This represents a significant strategic pivot in data center infrastructure sustainability, addressing growing concerns about power consumption and environmental impact of AI and cloud computing operations. For IT organizations, this signals a emerging competitive pressure to adopt alternative energy solutions for data centers, with implications for long-term infrastructure costs, sustainability compliance, and competitive positioning in an increasingly energy-constrained market.