PANews reported on October 28th that according to The Block, Nasdaq-listed shipping company OceanPal completed a $120 million PIPE to establish a wholly-owned subsidiary, SovereignAI, to collaborate with the NEAR Foundation to build a NEAR-based digital asset vault and confidential AI cloud platform. OceanPal plans to acquire NEAR tokens over the long term, aiming to hold at least 10% of the total supply. Investors include Kraken, Proximity, Fabric Ventures, the G20 Group, and the NEAR Foundation. SovereignAI's advisory board includes Illia Polosukhin and others. OceanPal will maintain its dry bulk and tanker businesses while developing blockchain and AI infrastructure.
OceanPal Launches SovereignAI with $120 Million, Partners with NEAR to Advance AI and Crypto Infrastructure
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