News Summary

• Panthalassa, backed by Peter Thiel and a flotilla of tech investors, sees data centers powered and cooled by the ocean as a cheaper alternative to the orbiting server farms Musk is pitching to SpaceX investors.
• The Portland, Oregon startup has spent the past decade developing floating data centers that generate their own electricity from open-ocean waves and cool themselves with cold seawater.
• It expects commercial units to be operational in 2027, a year before SpaceX says it may begin putting compute satellites in orbit.