Cowboy Space raises $275M to turn rocket upper stages into orbiting data centers

Cowboy Space has raised $275 million at a $2 billion valuation to develop vertically integrated space infrastructure that couples rocket upper stages with power and in‑orbit compute to host AI workloads. The plan envisions thousands of satellites forming orbital data-center networks, with a first mission this year to demonstrate wireless power beaming and a long‑term goal of a one‑megawatt data center in orbit by 2028. The venture, led by Index Ventures with new backers including IVP, Blossom Capital and SAIC, aims to manufacture an integrated rocket/upper stage/compute system and to grow an orbital AI compute ecosystem far beyond current terrestrial limits.