As AI demand for computing power surges, companies are searching for new ways to fuel data centers. One startup is now proposing floating data centers powered by ocean waves, and they just raised $140 million to bring the idea to fruition. Tech companies are planning to spend roughly $750 billion on data centers this year. But the elephant in the room is figuring out how to power these facilities. They’re already straining electrical grids across the world, and the pace of the buildout is far surpassing our ability to bring new power online. This energy shortfall is leading tech companies to invest in a series of increasingly outlandish fixes from restarting shuttered nuclear reactors to developing novel geothermal energy technology and even launching data centers into space . Now, several leading Silicon Valley figures, including Palantir’s Peter Thiel and Salesforce’s Marc Benioff are backing Oregon-based startup Panthalassa.…