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Quick take:
Proceeds from the transaction will be used to establish a digital asset treasury company, SovereignAI, focused on commercializing NEAR Protocol.
Capital generated from the treasury management strategy will then be used to build a unique blockchain-native, confidential AI-cloud infrastructure using NVIDIA tech and powered by NEAR.
The transaction attracted participation from Kraken, Proximity, Fabric Ventures, and G20 Group, among others.
OceanPal, Inc. (NASDAQ: OP), a global shipping provider specializing in vessel ownership, has completed a $120 million private investment in public equity (PIPE) offering through the purchase and sale of shares of common stock and pre-funded warrants.
The transaction attracted participation from Kraken, Proximity, Fabric Ventures, and G20 Group, among others.
According to the press release seen by NFTgators, proceeds from the PIPE transaction will be used to establish a digital asset treasury company, SovereignAI, focused on commercializing NEAR Protocol.
Capital generated from the treasury management strategy will then be used to build a unique blockchain-native, confidential AI-cloud infrastructure using NVIDIA tech and powered by NEAR.
Commenting on the announcement, OceanPal’s newly appointed Co-CEO, Sal Ternullo, said “[SovereignAI] is launching as an active, strategic partner with the NEAR Foundation to advance a shared vision of universal AI sovereignty by leveraging the NEAR Protocol’s vertically integrated AI products and rails, which were purpose-built for these exact use cases.”
Ternullo said the company plans to use NEAR’s decentralised compute infrastructure to capitalize on the explosive demand for privacy-first, regulatory-compliant AI across enterprise markets, including finance, healthcare, and media, while enabling businesses and consumers to maintain control and ownership.
Mr. Polosukhin, CEO & co-founder of NEAR Foundation, commented: “I look forward to working with them to realize a shared vision of achieving true universal AI sovereignty by enabling private, user-owned AI and autonomous agent commerce. We believe the NEAR Protocol’s AI-centric tech stack will allow user-owned AI to meet its moment.”
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