OceanPal Establishes SovereignAI, Expanding into Artificial Intelligence and Blockchain
OceanPal Establishes SovereignAI, Expanding into Artificial Intelligence and Blockchain
Greece-based ship operator OceanPal has taken a significant leap beyond maritime shipping into artificial intelligence (AI) and blockchain technologies. Through its new digital subsidiary SovereignAI, the company plans to realize a vision of universal AI sovereignty.
Nasdaq-listed OceanPal announced that it has raised $120 million through a private investment in public equity (PIPE) and will direct these funds toward the SovereignAI project. The new venture will be developed in collaboration with NEAR Foundation and built on NVIDIA-based privacy-focused artificial intelligence cloud infrastructure.
SovereignAI: Blockchain-Based AI Infrastructure
According to OceanPal, SovereignAI will establish a "blockchain-native" infrastructure enabling AI systems to operate in a decentralized, secure, and privacy-first manner. This structure is rooted in the concept of "AI sovereignty"—meaning AI applications can function on user-owned, transparent, and secure networks without reliance on centralized clouds or singular institutions.
As part of this initiative, OceanPal plans to acquire up to 10% of the total token supply of NEAR Protocol. This investment is part of a crypto treasury strategy that transforms the company's cryptocurrency asset management from passive positioning to active participation.
Management and Vision
The new venture will be led by Sal Ternullo, who has been appointed co-CEO of OceanPal. Ternullo is an experienced fintech executive who previously worked at State Street Bank on blockchain and digital asset infrastructure.
"This is the first instance of a publicly traded company partnering strategically with NEAR Foundation to support a vision of universal AI sovereignty," said Ternullo, noting that SovereignAI's objective is to develop a "privacy-focused, regulation-compliant, and scalable artificial intelligence infrastructure."
Ternullo will be joined by David Schwed as COO. Schwed previously served as Chief Information Security Officer (CISO) at Robinhood.
"Our strategy encompasses not only digital asset management but also building user-owned, privacy-preserving AI infrastructure," said Schwed, stating that SovereignAI will deliver privacy-first solutions across finance, healthcare, and media sectors.
Advisory Board and Investors
The advisory board of SovereignAI will be chaired by Illia Polosukhin, CEO of NEAR Foundation. The board will also include representatives from technology leaders such as OpenAI, Fabric Ventures, and Quicknode.
The venture has received support from leading crypto investors including Kraken, Fabric Ventures, G20 Group, and Proximity. These financial and strategic partnerships will accelerate SovereignAI's goal of building a blockchain-based artificial intelligence ecosystem.
OceanPal's Strategic Transformation
OceanPal operates as a subsidiary of the Diana Shipping group (led by Semiramis Paliou). While the company continues to operate dry bulk and product tanker fleets, it is structuring SovereignAI as a separate digital innovation division.
The company's statement indicated that this move signifies a "transition from passive investment-focused asset management to active digital infrastructure development." In this way, OceanPal is diversifying revenue streams beyond shipping while aiming for integration into the digital economy of the future.
Alignment with Global Trends
According to experts, this development represents a significant example of traditional maritime companies' shift toward the digital asset economy. Although the shipping sector is typically characterized by high capital intensity and low digitalization rates, firms like OceanPal are expanding their scope through investments in AI, blockchain, and data economy initiatives.
OceanPal's SovereignAI venture also demonstrates that shipping companies could evolve into digital infrastructure providers. The company indicated its openness to potential collaborations in areas such as AI-powered autonomous systems, cybersecurity solutions, and crypto-based business models.
Key Points:
OceanPal established SovereignAI, a new digital subsidiary, with $120 million in PIPE investment.
SovereignAI will develop blockchain-based artificial intelligence infrastructure using NEAR Protocol and NVIDIA technology.
The company plans to invest in up to 10% of the NEAR token supply.
The project is led by CEO Sal Ternullo and COO David Schwed, with advisory support from OpenAI, NEAR, and Fabric Ventures.
Objective: "Universal AI sovereignty"—user-owned, privacy-focused, and decentralized artificial intelligence systems.
OceanPal continues ship operations while developing its digital innovation division as an independent entity.
The move is viewed as a sectoral first in terms of shipping companies' integration into the crypto and artificial intelligence ecosystem.
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News Link: https://splash247.com/oceanpal-charts-new-course-into-ai-and-crypto-infrastructure/
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Author: SedatOnat.com
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