Cowboy Space hits $2B valuation with $275M Series B for orbital AI

Cowboy Space Corporation, a space infrastructure startup building orbital data centers and bespoke launch vehicles, has secured $275 million in Series B funding at a $2 billion valuation. The round was led by Index Ventures, with new capital from IVP, Blossom Capital, and SAIC, alongside existing backers including Breakthrough Energy Ventures, Construct Capital, Andreessen Horowitz, NEA, Interlagos and founder Baiju Bhatt. Multiple reports note that this is the company’s first major raise since rebranding from Aetherflux, bringing its total disclosed equity funding to roughly the mid-$300 million range.

The company is developing vertically integrated orbital infrastructure, combining rockets whose upper stages convert into data centers once in low Earth orbit. Cowboy Space plans to use the Series B proceeds to scale this architecture and pursue a large orbital data center constellation, including an FCC filing for up to 20,000 satellites carrying compute hardware. By pairing launch and in-space compute, the startup aims to provide power-dense, AI-focused data center capacity in orbit, positioning itself as a new competitor in the emerging “AI in space” race against more established space launch and satellite players.