Startup · United States
formerly Aetherflux
Cowboy Space, formerly Aetherflux, raised a $275M Series B in May 2026 and plans its own rocket whose upper stage becomes a 1 MW data center, plus a 20,000-satellite FCC application. It has not flown a compute payload; its first spacecraft, a power-beaming demonstration, flew about six to twelve months after the first promised window.
Stage 1 of 7: Concept
It has filed for 20,000 data center satellites and flown a power-beaming satellite (Reason-1), but no compute hardware has flown.[1][2]
What the stage means: Plans, filings or designs with no ODC hardware built or flown.
DoneReported
Aetherflux publicly announced
Founded by Robinhood co-founder Baiju Bhatt.
Source: Wikipedia
DoneConfirmed
First demonstration spacecraft promised for Q4 2025 or Q1 2026
Reason-1 flew on 1 Oct 2026, about six to twelve months after that window.
Sources: TechCrunch; Payload
DoneConfirmed
$50M Series A for a 2026 space solar demo
Co-led by Index Ventures and Interlagos.
Sources: TechCrunch; Wikipedia
DoneCompany claim
Galactic Brain orbital data center announced; first commercial node targeted for Q1 2027
Solar-powered GPU satellites.
Source: PR Newswire
DoneConfirmed
Rebrand to Cowboy Space; $275M Series B at $2B valuation
Led by Index Ventures; adds a launch vehicle whose upper stage is the data center.
Sources: Morningstar (Business Wire); Payload; SiliconANGLE; Via Satellite
DoneConfirmed
FCC application: 20,000-satellite Stampede Data Center System
Launches from 2028; satellite design unfinished. The FCC later asked about satellite size (SatNews, 13 Sep 2026).
Source: SpaceNews
DoneReported
FCC sends an 11-part deficiency letter on the Stampede application
Responses were due 11 Sep 2026. No response was on file at that deadline (SatNews, 13 Sep 2026). We have not checked the FCC record since.
Source: SatNews
DoneConfirmed
Reason-1 launched (power-beaming demonstration)
Launched on SpaceX Transporter-18 on an Apex Aries bus; Apex reported contact within 10 minutes, nominal (2 Oct 2026). Power-beaming demo, not compute.
Sources: Yahoo Finance; Via Satellite
Targets as the organisation stated them. When a date moved, every move is listed with its source; a narrower window is shown as a narrowing.
first half of 2027
Q1 2027 (December 2025 target; not restated since the May 2026 pivot)
First Galactic Brain commercial data center node[1]
NET end of 2028
First launch of its own rocket (upper stage = 1 MW data center); Stampede launches from 2028[1]
What to watch · SpaceNexus note, not a prediction
Whether Reason-1 reports on-orbit results, and whether the Q1 2027 Galactic Brain node is still on the plan.
Dated promises with two sources for the promise and the outcome. No grades or ratings.
| Step | Promised | Outcome | Moved by |
|---|---|---|---|
| First demonstration spacecraft | Q4 2025 or Q1 2026, said 9 Oct 2024[1] | Reason-1 launched 1 Oct 2026 (power beaming, not compute)[1] | 6 to 12 months |
| Figure | Value | Confidence and source |
|---|---|---|
| FCC filing, maximum satellites (Stampede) | 20,000 satellites | Reported[1] |
| Power per Stampede satellite (filed) | 1 MW | Company claim[1] |
| Series B valuation | $2B | Reported[1] |
Rounds come from company announcements, regulatory filings and press reports. Amounts, valuations and investors are as reported and may be incomplete or later revised. Not investment advice, and not an offer or solicitation for any security. Full disclaimer
| Date | Round | Amount |
|---|---|---|
| 2 Apr 2025 | Series A. Led by Index Ventures, InterlagosCounted in the tracker total.[1][2] | $50M |
| 11 May 2026 | Series B ($2B valuation). Led by Index VenturesCounted in the tracker total.[1][2][3][4] | $275M |
Baiju Bhatt (founder, CEO)
| Program | Stage | Verified funding | Next step |
|---|---|---|---|
| Cowboy Space (this page) | Stage 1 of 7: Concept | $325M | H1 2027: Reason-2: H200 GPUs and a laser data link |
| Agnikul and NeevCloud | Stage 1 of 7: Concept | Not counted | End of 2026: Pilot launch (300 to 350 kg unit) |
| Anthropic | Stage 1 of 7: Concept | Not counted | None announced |
| Apex | Stage 1 of 7: Concept | Not counted | 2027: Sophia Space TILE demo on an Apex Nova bus |
| Atomic-6 | Stage 1 of 7: Concept | Not counted | None announced |
| Blue Origin Sunrise | Stage 1 of 7: Concept | Not counted | Q4 2027: TeraWave deployment begins (the backhaul Sunrise depends on) |
| CASC / CAST | Stage 1 of 7: Concept | Not counted | 2027: Experimental 10 kW-class computing satellite (about 1,000 kg) |
Evidence reviewed 5 Oct 2026, fact-checked against primary sources. Nothing on this page is sponsored, and no company can pay to change, reorder or preview it. Spotted an error? Report a correction. How stages and labels work.
Week in Space Data, every Friday.