Core Insights - OceanPal Inc. plans to pivot into artificial intelligence infrastructure by building confidential AI cloud services on the Near Protocol blockchain [1] - The company has closed a $120 million private investment in public equity (PIPE) deal to launch SovereignAI, a wholly owned subsidiary focused on NEAR tokens [2] - SovereignAI aims to acquire 10% of the NEAR token's supply over time, marking a unique approach compared to other companies focusing on well-known cryptocurrencies [3] Company Developments - OceanPal will continue its shipping operations, which reported a net loss of $10.4 million in the first half of the year [2] - The company's shares fell over 20% recently, trading at $1.73, down from a high of $79 in June [3] Strategic Vision - SovereignAI aims to enable user-owned AI and autonomous agent commerce, leveraging its infrastructure for privacy-preserving AI at scale [4][5] - The advisory board for SovereignAI includes industry figures from OpenAI, Quicknode, and Fabric Ventures, chaired by Near Foundation co-founder Illia Polosukhin [5]