OceanPal raises $120M to build NEAR token treasury company
The new company will use NEAR’s blockchain and NVIDIA technology to build privacy-preserving AI infrastructure, while offering exposure to the NEAR token.
Nasdaq-listed OceanPal Inc. has raised $120 million through a private investment in public equity deal to launch SovereignAI, a new subsidiary focused on commercializing the NEAR Protocol and developing AI infrastructure.
According to a Tuesday announcement, SovereignAI will implement a crypto treasury strategy, with plans to acquire up to 10% of the NEAR (NEAR) token supply. The move, developed in partnership with the NEAR Foundation, makes OceanPal a public vehicle for exposure to the crypto protocol’s native token.
OceapPal said the partnership with the NEAR Foundation is based on a shared vision of “universal AI sovereignty.”
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