The space computing power is booming, and several leading stocks are triggering an industry revolution that transcends time and space.

A new era of computing power that is coordinated between heaven and earth, green, and efficient is accelerating towards us.

On April 21, 2026, at the press conference on the industrial and information technology development in the first quarter held by the State Council Information Office, Zhang Yunming, the vice - minister of the Ministry of Industry and Information Technology, made a statement that sent a powerful signal to the technology and capital circles: Support the forward - looking research on space computing power technology and promote the orderly development of the space computing power industry.

When large AI models push the ground - based computing power to the triple limits of energy consumption, heat dissipation, and land use, when reusable rockets drive the launch cost to a record low, and when low - orbit constellations turn space networking into reality, the "celestial data center" that once only existed in science fiction novels is taking on a clear industrial outline and moving from dream to reality.

Triple factors resonate, leading to a big explosion in space computing power

Why do humans want to send computing power into space? The answer lies at the end of ground - based computing power.

Under the sweep of the AI wave, the demand for computing power is expanding exponentially. As of the end of March 2026, the scale of intelligent computing power in China has reached 1882 EFLOPS (FP16), but this still can't meet the crazy demand for large - model training and inference. Institutions predict that by 2030, the global demand for computing power will increase more than a hundred times compared to the current level.

Traditional ground - based data centers are already overburdened. Energy consumption accounts for 2% - 3% of the global electricity consumption and is still rising. Heat dissipation costs account for 30% - 40% of the total expenditure. Both land resources and power supply have reached their limits. Physical bottlenecks have become an invisible ceiling for the continued expansion of the digital economy.

Space happens to be the optimal solution to this dilemma. There is 24/7 solar energy, and the power generation efficiency is five times that of the ground. There is a vacuum environment close to absolute zero, which is a natural heat dissipation field without the need for air or water cooling. It has the ability to cover the whole world without blind spots and can reach areas such as oceans, deserts, and polar regions that are blind spots for ground networks. Moreover, it has the ultimate efficiency of on - orbit real - time processing, upgrading satellite data from "calculated on the ground with data from space" to "calculated in space with data from space", compressing the disaster warning response from hours to seconds, and more than 90% of the idle remote - sensing data can be revitalized and utilized.

The outbreak of this transformation is the result of the resonance of policies, technologies, and capital.

At the policy level, from the Ministry of Industry and Information Technology's clear support for forward - looking research, to the establishment of the Professional Committee for Space Computing Power, and then to Beijing's plan to build a Space Computing Power Innovation Center and release a multi - million - level research list, the national strategy and local implementation are in sync, delineating a clear path for the industry.

At the technology level, reusable rockets have reduced the launch cost by more than 60% in the past five years. Core problems such as radiation - resistant chips, inter - satellite laser communication, and space thermal control have been solved one by one. The computing power of a single satellite has been greatly improved, and large - scale deployment is economically feasible.

At the capital level, Orbit Time has obtained 57.7 billion yuan in equity and debt financing, setting a record in the industry. More than a dozen commercial space companies are rushing to go public. Billions of funds are flowing into the primary market, and concept stocks in the secondary market are continuously active. The entire industrial chain is undergoing a re - evaluation of value.

The market prospects have already opened up the imagination space. Institutions predict that by 2035, the global market scale related to space computing power is expected to exceed one trillion US dollars, covering the entire chain of satellite manufacturing, rocket launch, on - board chips, communication transmission, on - orbit services, etc.

From rockets and satellites to the celestial brain, listed companies are accelerating their layout

Space computing power is a complete industrial chain with closely linked links, and each link hides the core power to leverage the industry. Among them, the upstream is the "channel to space" and "space infrastructure", responsible for sending computing power into space and building the basic platform; the middle - stream is the core of the industry, determining the "intelligence" and "efficiency" of space computing power; the downstream is the value - realization scenario, turning space computing power from technology into services.

On April 21, Shunhao Co., Ltd. hit the daily limit due to the heavy - weight financing of Orbit Time and its core layout in space computing power. Leading aerospace companies such as China Satellite and China Satellite Communications rose strongly. Funds flowed precisely to the core targets of the industrial chain, and the popularity of the sector continued to rise.

An overview of the layout of core A - share listed companies in space computing power

Since this year, many securities companies have issued relevant industry research reports. Changjiang Securities pointed out that against the background of the explosion of AI computing power demand, space computing power has become the key path to break through the ground - based energy bottleneck, and core links such as on - board radiation - resistant chips and inter - satellite laser communication will benefit first.

Guoxin Securities believes that the maturity of reusable rocket technology will significantly reduce the launch cost. China's space computing constellation has achieved on - orbit networking and is in the global first echelon. The upstream and downstream of the industrial chain will ushers in comprehensive development opportunities.

Wanlian Securities emphasizes that space computing power is an important direction for AI infrastructure construction. By integrating commercial aerospace and artificial intelligence, the acceleration of satellite Internet networking will continuously catalyze the sector's market.

CITIC Construction Investment analyzes from the dual dimensions of computing power and aerospace and believes that the demand for AI computing power is reconstructing the infrastructure. Commercial aerospace has entered a stage of high - quality development catalyzed by reusable rockets. As an intersection track of the two, space computing power has long - term growth value.

There is a clear consensus among many institutions: Space computing power is in a critical period of transitioning from technology verification to large - scale commercial use. In the short term, it depends on policy catalysis and technological breakthroughs; in the medium term, it depends on cost reduction and scenario implementation; in the long term, it depends on the formation of a heaven - earth integrated computing power network. It is a golden track with both certainty and growth potential.