[OceanPal establishes SovereignAI with $120 million, partnering with NEAR to advance AI and crypto infrastructure] According to The Block, Nasdaq-listed shipping company OceanPal has completed a $120 million PIPE to establish its wholly-owned subsidiary SovereignAI, collaborating with the NEAR Foundation to create a NEAR-based digital asset treasury and confidential AI cloud platform. OceanPal plans to purchase NEAR tokens long-term, aiming to hold at least 10% of the total supply. Investors include Kraken, Proximity, Fabric Ventures, G20 Group, and the NEAR Foundation. The SovereignAI advisory board includes Illia Polosukhin and others. OceanPal will maintain its dry bulk and tanker business while expanding into blockchain and AI infrastructure.