Cowboy Space Raises $275 Million at $2 Billion Valuation to Build Orbital AI Data Centers
Tags AI · Infrastructure
Cowboy Space (formerly Aetherflux), founded by former Robinhood co-founder Baiju Bhatt, raised $275 million in Series B funding at a $2 billion valuation led by Index Ventures, with participation from IVP, SAIC, Breakthrough Energy Ventures, Andreessen Horowitz, and NEA. The company is developing a fully integrated system of purpose-built rockets and satellites to deliver high-performance AI compute in low Earth orbit. Each satellite will provide 1 MW of power to approximately 800 onboard Nvidia Space-1 Vera Rubin GPU modules. The rocket's upper stage doubles as the data center, eliminating redundant mass. The company plans its first power beaming demonstration satellite launch later this year and a full launch before end of 2028.
Technical significance
Orbital AI data centers address two terrestrial constraints simultaneously: energy availability and cooling. With constant solar exposure and vacuum-based cooling, orbital compute could bypass the power grid limitations constraining terrestrial AI data center growth. SAIC's participation as an investor signals defense interest in space-based compute for ISR and communications resilience. The vertical integration approach (building both rockets and satellites) is a first-principles departure from the traditional space industry model.