Peter Thiel is leading a $140mn investment in a US start-up that plans to use wave energy to fuel giant fleets of floating data centres, as Silicon Valley’s search for AI power pushes into exotic new frontiers.Panthalassa, which has spent a decade developing its ocean energy technology, uses the bobbing motion of waves to force water through a turbine to produce electricity and power AI chips. Garth Sheldon-Coulson, co-founder and chief executive, told the FT the new money would allow the company to scale up a pilot manufacturing facility, with the aim of starting commercial deployments next year. The deal values Panthalassa at close to $1bn, including the new capital, according to a person familiar with the terms.

Full report : Panthalassa, which aims to power floating data centers using energy generated by ocean waves, raised $140M led by Peter Thiel, source says at a $1 billion valuation.