Summary of the Key Points
This article focuses on the emerging field of "space computing power," discussing how SpaceX's IPO in 2026 has brought space computing power to the forefront of capital attention (with 93% of its value stemming from AI computing power). Domestic startups, such as "Yiwei Aerospace," are attempting to move data centers into space. The article analyzes the reasons behind the surge in interest in space computing power (including advancements in communication technology and the explosive demand for AI computing power), the technical challenges that need to be overcome (such as single-event upsets and heat dissipation), the commercialization strategies (starting with selling components to generate revenue and then building platforms for cloud services), and how startups can survive in the competitive landscape between national entities and giants (by leveraging technical barriers and open ecosystems).
Why Has Space Computing Power Suddenly Become a Hot Topic for Capital?
SpaceX's IPO served as a catalyst, raising $75 billion, with its prospectus highlighting that AI computing accounts for a $26.5 trillion addressable market. Elon Musk's stock incentives also included the construction of a 100 terawatt space data center, further highlighting the potential of space computing power.
The domestic market has also shown significant interest: commercial aerospace financing in the first half of 2026 was more than six times that of the same period last year, with funds flowing into space computing power. There are two main driving forces behind this trend:
1. The Need for Expanded Communication Capabilities in Space: 5G is nearing its theoretical limits, and ground-based stations cannot cover remote areas, low-altitude scenarios (such as drones), and civil aviation effectively. Satellite networks can fill this gap. Starlink has already proven that selling bandwidth in space is profitable (with subscription revenue exceeding rocket launch costs by the end of 2024).
2. The Explosive Demand for AI Computing Power: The demand for computing power from large models is growing exponentially, and ground-based data centers are becoming insufficient. Space offers a new platform for additional computing resources. Additionally, as the cost of launching satellites may decrease from tens of thousands of dollars per kilogram to a few hundred dollars, sending servers into space becomes more cost-effective.
What Challenges Must Be Overcome to Move Servers into Space?
The space environment poses significant challenges for servers:
1. Single-Event Upsets: High-energy particles in space can damage chips, causing them to flip from 0 to 1 or 1 to 0, leading to system crashes. Solutions include using radiation-resistant chips (lower-process chips are often more stable due to their lower integration) or implementing software redundancy (e.g., using multiple devices and rewriting software in languages like C for stability).
2. Heat Dissipation: While ground data centers can use air and water cooling, space lacks these options, so heat must be dissipated through radiation. The efficiency of heat dissipation increases with the square of the temperature difference; therefore, the ability to operate chips at higher temperatures allows for more chips to be deployed in space.
Another challenge is the deployment of high-performance GPUs in space, as there is limited global experience with their operation in such environments. Questions such as whether GPUs like the H100 can run stably in space and whether NVLink interconnect technologies will function properly in orbit need to be addressed by startups.
Can Space Computing Power Be Profitable? Who Will Be the Buyers?
Companies need revenue to survive. Yiwei Aerospace's strategy is to build a foundation gradually, starting by selling individual components (such as satellite intelligence and communication components) that can be integrated into existing aerospace systems to generate cash. These components will also form the core of future space data centers.
Who Will Be the Buyers?
- Operators: With existing ground traffic markets becoming saturated, they are seeking new opportunities. Satellite networks can provide additional users in remote areas and low-altitude applications, making them interested in space computing power services.
- Large Model Companies: They require substantial computing power for training and inference tasks and are willing to pay for access to space computing resources.
The future model will shift from selling hardware to providing cloud services. In 2026, Yiwei Aerospace already launched a space computing platform that allows users to deploy models and process data (e.g., using large vision models for remote sensing). The more users, the more valuable the platform becomes, creating a positive cycle.
How Can Startups Survive in the Competition Between Giants?
National entities, operators, and giants are all investing in this field. Startups can survive by:
1. Leveraging Technical Barriers: Developing unique technologies that others cannot, such as domestically produced high-performance space servers that address single-event upsets, which can eliminate many competitors.
2. Building Open Ecosystems: Focusing on building foundational platforms (operating systems, cloud services, networking capabilities) that support a variety of applications, thereby increasing user loyalty.
3. Utilizing Private Sector Advantages: While the aerospace industry is traditionally closed (with roots in military technology), the computer industry is more open (e.g., with rapid iteration through platforms like GitHub). Startups can adapt more quickly and be more flexible than larger entities.
Xing Ruolin emphasizes that there is no consensus in this field yet, making it an opportune time to enter. Once the industry is widely recognized, the value of space computing power may be diluted. The advantage for startups is to take action early and prove the concept.
Is Space Computing Power Far from Us?
In the short term, the technology is still in the verification and commercialization stages. However, as launch costs decrease and the number of satellites increases (with China aiming to deploy 3,000-5,000 satellites by 2030), space computing power may become as widespread as cloud services. For example, drones, autonomous vehicles, and outdoor robots could directly use space computing power for data processing, eliminating the need to transmit data back to Earth (which is time-consuming and bandwidth-intensive).
Of course, all this depends on technological breakthroughs and cost reductions. But for now, both capital and startups are investing heavily in this direction. As the saying goes, "Yiwei crossing the river" – first, you must have faith; then, you need a means to achieve your goal.