Cowboy Space, a space company that emerged from stealth less than two years ago after operating under the name Aetherflux, has raised $275 million at a reported $2 billion valuation. The funding is aimed at developing rockets and, in particular, upper-stage designs that would enable space-based data center operations. According to the reports, the company’s approach centers on launching hardware into low Earth orbit so that the upper stages can function as data centers in orbit rather than only serving as payload deployment stages.

The coverage also links Cowboy Space’s origins to earlier work on space-based solar power, describing the company’s background before its current focus on orbital data centers. Both outlets characterize the investment as a step toward addressing what they describe as a shortage of rockets suited to supporting in-orbit data center architectures, with Cowboy Space planning to build rockets specifically designed for that mission profile.

No details beyond the funding, valuation, timeline since stealth, and the stated use of orbital upper stages for data centers are included in the provided excerpts.