Overview
- The Nasdaq-listed shipper said the PIPE proceeds will seed SovereignAI, a new subsidiary to execute its AI and blockchain strategy.
- SovereignAI plans to accumulate at least 10% of NEAR’s token supply for a corporate treasury and to support operations over time.
- The unit intends to build a privacy-first AI cloud on NEAR leveraging Nvidia technology for enterprise use cases, with products still in development.
- Reported backers include Kraken, Proximity, Fabric Ventures, G20 Group and the NEAR Foundation, and an advisory board chaired by NEAR co-founder Illia Polosukhin was named alongside new co-CEO Sal Ternullo and COO David Schwed.
- OceanPal said shipping operations will continue, while the announcement coincided with a roughly 19–21% drop in OP shares and short-term weakness in NEAR’s price.