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Fortune

Business

Sasha Rogelberg

Peter Thiel is leading investment in an ocean data center powered by waves—and the startup is reportedly worth $1 billion

Peter Thiel Ocean

Peter Thiel, wearing a white shirt and in front of a red background, holds up a dollar bill. (Credit: Eva Marie Uzcategui/Bloomberg—Getty Images)

As hyperscalers like Alphabet look to the skies as the next frontier of data centers, Peter Thiel is looking to the seas.

Panthalassa, a U.S.-based start up betting on ocean waves to power a fleet of floating data centers, announced $140 million in funding earlier this month led by Thiel.

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