A Beijing-based space startup secured $8.4 billion in financing commitments from state-owned or -linked banks, part of China’s efforts to explore building orbital data centers.
The funding, SpaceNews wrote, speaks to China’s broader space ambitions and strategy of injecting state capital into private industry. China is reportedly aiming to put a data center in space by 2035; other global players including SpaceX and Google are pursuing similar projects.
The CEO of US space company Voyager Technologies told Semafor World Economy that orbital data centers would solve several earthly challenges that the facilities face, including insatiable energy needs, not-in-my-backyard concerns, and regulatory hurdles.