Aetherflux, the space solar energy company founded by Robinhood’s co-founder Baiju Bhatt, is negotiating to secure $250 million to $350 million for a Series B round that would assign a $2 billion valuation to the firm.

This fundraising effort was initially reported by The Wall Street Journal, indicating that Index Ventures is spearheading the initiative. Aetherflux has raised approximately $80 million since its inception in 2024. The company chose not to provide comments.

Recently, Aetherflux has redirected its focus, steering its power generation technology toward space data centers, moving away from its original goal of transmitting electricity to Earth via lasers. Various space firms like SpaceX, Blue Origin, Starcloud, among others, are also innovating new frameworks for distributed computing in outer space.

“Let it be noted that we never lifted our pivot foot — it wasn’t a travel,” Bhatt humorously remarked in a TechCrunch interview last week. “About a year ago, it became clear that to power AI using the tech we envisioned, it would be significantly better to place the chips in space instead of beaming power from space to a land-based data center.”

While the company intends to persist with its laser power transmission experiments on a satellite bus created by Apex Space, its debut data center satellite is anticipated to launch in 2027. “Our objective is to develop a solution that competes with terrestrial economics,” Bhatt stated.

It won’t be straightforward.