Peter Thiel is leading investment in an ocean data center powered by waves—and the startup is reportedly worth $1 billion

Fortune

By Sasha Rogelberg
Reporter
May 14, 2026, 3:28 PM ET

As hyperscalers like Alphabet look to the skies as the next frontier of data centers, Peter Thiel is looking to the seas.

Panthalassa, a U.S.-based start up betting on ocean waves to power a fleet of floating data centers, announced $140 million in funding earlier this month led by Thiel.

The funding pushes Panthalassa’s valuation close to $1 billion, the Financial Times reported, citing a person familiar with the terms of the deal.

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