Major tech firms and startups are accelerating orbital AI compute amid terrestrial power grid constraints, with Starcloud demonstrating the first NVIDIA H100 GPU and LLM training in space during late 2025 before raising $250 million in August 2026. SpaceX filed for up to one million AI1 satellites targeting initial deployments as early as 2028, while Google’s Project Suncatcher and Blue Origin’s Project Sunrise pursue prototype launches in 2027 alongside smaller efforts like Lonestar’s lunar servers. Key catalysts include falling launch costs, radiative cooling advances, and FCC constellation approvals that could enable meaningful inference workloads, though full-scale operational data centers hinge on radiation-hardened hardware scaling and intersatellite laser links. Trader focus centers on whether these 2027–2028 milestones confirm commercial viability before later resolution dates.