Panthalassa Raises $225M at ~$2B Valuation
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- Panthalassa is raising $225M at a ~$2B valuation, up from ~$1B in May — a doubling in roughly a few months.
- Panthalassa aims to power data centers sited in the ocean using wave-generated energy, riding the surge of investor interest in startups addressing AI data center power demands.
Why it matters: The startup's valuation roughly doubled to ~$2B in just months, signaling how aggressively capital is chasing AI power solutions. Ocean-sited data centers are a novel workaround for land and grid constraints, but the truncated source offers no detail on cooling, connectivity, or maintenance tradeoffs.
