Overview
- OceanPal announced a $120 million PIPE to finance its strategy shift, with participants reported to include Kraken, Proximity, Fabric Ventures, the G20 Group and the NEAR Foundation.
- The company created SovereignAI Services LLC to develop a privacy-first AI cloud on NEAR Protocol integrated with Nvidia tools.
- OceanPal outlined a treasury plan to accumulate at least 10% of NEAR’s token supply over time.
- NEAR co-founder Illia Polosukhin will chair SovereignAI’s advisory board, joined by advisors from AI and infrastructure firms.
- Shares closed down 19.09% at $1.78 after the announcement, and the company said it will continue its core shipping operations.