Cowboy Space, a San Carlos, California-based startup, has raised $275 million to build rockets with upper stages that will serve as data centers in low Earth orbit (LEO). This funding round, led by early-stage investor Index Ventures, brings Cowboy's total funding to around $365 million. With this investment, Cowboy joins the ranks of space industry unicorns, valued at $1 billion or more, just over a month after Starcloud achieved the same status. The race to build orbital data centers is heating up, with SpaceX, Blue Origin, and others also entering the market. Cowboy's plans call for power and data center constellations numbering in the many thousands, potentially reaching tens of thousands of satellites. The startup aims to demonstrate wireless power beaming from LEO to the ground using infrared lasers in its first space mission, planned for later this year. Early next year, Cowboy will deploy its first "Galactic Brain" data center node, using NVIDIA Space-1 Vera Rubin modules designed for AI computing in LEO. The startup's long-term focus is on using the power in orbit for AI compute, not just beaming it to Earth. Cowboy's unique approach is to design the rocket upper stage and data center payload as a single vehicle, reducing redundant mass and optimizing power and compute delivery to orbit. This strategy sets them apart from rivals like Starcloud, which plans to rely on SpaceX's Starship heavy-lift rocket. Cowboy's team includes former SpaceX director of launch operations Tyler Grinnell and Warren Lamont, who led rocket engine and booster stage development at Blue Origin. The startup is building everything in-house, aiming to be the first to build a launch vehicle whose upper stage is designed from day one to become a data center in orbit. Cowboy's plans for entering the launch market and building the necessary cadence remain undisclosed, but the startup is focused on demonstrating capability before scaling to full commercial services. The funding round also attracted new investors IVP, Blossom Capital, and SAIC, in addition to existing backers Breakthrough Energy Ventures, Construct Capital, Andreessen Horowitz, NEA, and Interlagos.
