OceanPal and NEAR Launch $120M SovereignAI for Universal AI Sovereignty

OceanPal Inc. (NASDAQ: OP) has solidified its partnership with the NEAR Protocol by launching SovereignAI, a $120 million initiative aimed at commercializing blockchain-based AI infrastructure. The company announced the completion of a private investment in public equity (PIPE) transaction to fund SovereignAI Services LLC, a wholly owned subsidiary focused on leveraging NEAR's AI-centric architecture to build a confidential, user-owned AI cloud infrastructure powered by NVIDIA technology, according to a PR Newswire release. This move positions OceanPal as a public vehicle for exposure to NEAR, the protocol's native token, while aligning with institutional demand for scalable, privacy-first AI solutions.

The collaboration with the NEAR Foundation underscores a shared vision for "universal AI sovereignty," where AI agents can operate as autonomous economic entities capable of transacting and managing assets while preserving user data privacy, the PR Newswire release added. OceanPal's newly appointed Co-CEO, Sal Ternullo, emphasized the project's asymmetric upside potential, stating that SovereignAI aims to accumulate at least 10% of the NEAR token supply over time. The strategy extends beyond passive treasury management to active infrastructure development, with proceeds from NEAR holdings reinvested into building blockchain-native AI systems, the announcement said.

Despite the bullish strategic alignment, NEAR's price has shown mixed signals. As of October 29, 2025, the token steadied around $2.24 after failing to break through a key resistance zone at $2.51 earlier in the week, as reported by FXStreet. While the 4.02% decline post-announcement raised short-term concerns, market analysts highlight long-term institutional confidence in NEAR's ecosystem. CryptoQuant's on-chain data indicate bullish momentum, with large whale activity and buy dominance suggesting potential for a rally toward the September 19 high of $3.34 if the token surpasses the 50-day EMA, the FXStreet piece noted.

OceanPal's advisory board, chaired by NEAR Foundation CEO Illia Polosukhin, includes AI and infrastructure experts from OpenAI, Fabric Ventures, and Quicknode, further validating the project's technical and commercial viability, according to the PR Newswire release. The transaction was supported by strategic investors such as Kraken, Proximity, and G20 Group, reflecting broader crypto-native interest in AI infrastructure.

The development comes as the NEAR Protocol gains traction for its chain abstraction and agentic AI capabilities, attracting both traditional finance (TradFi) and crypto-native capital. While short-term price volatility persists, the integration of SovereignAI into OceanPal's operations signals a strategic shift toward positioning the company at the intersection of AI and blockchain innovation, the PR Newswire release concluded.