Shipping firm Oceanpal Pivots to AI with $120m pipe deal, eyes 10% of near supply
Oceanpal Inc. (OP), a shipping company known for transporting bulk and petroleum products, said it plans to pivot to artificial intelligence infrastructure by building a confidential AI cloud service on the nearby blockchain protocol.
The Athens-based company said it closed a $120 million private investment in Public Equity (PIPE) deal to launch Sovereignai, a wholly owned subsidiary. Sovereignai will serve as a public transportation vehicle for exposure to nearby, a blockchain platform designed for AI applications, according to a press release shared with Coindesk. Oceanpal will continue to operate its shipping business, posted a Loss of the first net of $ 10.4 million.
While many companies have adopted a digital Asset Treasury strategy based on the accumulation of well-known cryptocurrencies, such as Bitcoin and ether Sovereignai is the first dedicated near Protocol’s Near Token. The company aims to acquire 10% of the token supply over time.
The company’s shares, traded on the NASDAQ, fell more than 20% on Tuesday and recently traded at $1.73. They are Priced as high as $79 in June.
Sovereignai, advised by a team of industry figures, aims to use its infrastructure to enable AI-owned AI and Autonomous Agent Commerce.
“Our strategy goes beyond Treasury management to proactively build infrastructure that enables user-owned, privacy-preserving AI at scale,” David Schwed, chief operating officer of Oceanpal, said in the statement. “Close Protocol architecture provides the trust, security and economic alignment necessary to realize true AI sovereignty and unlock the next generation of autonomous agent commerce.”
The Advisory Board is chaired by the Foundation’s close co-founder Illia Polosukhin and includes key figures from OpenAi, Quicknode and textile ventures. Backers of the transaction include Kraken, Proximity and G20 Group.
