Adaspace, a Chengdu-based satellite maker specializing in AI processing aboard spacecraft, is preparing for a Hong Kong IPO to fund growth and launch 100 satellites for its novel Star-Compute cloud service by 2028.
- Adaspace launched 20 AI satellites across 2025-2026 and plans 100 more by 2028.
- The company offers AI processing onboard satellites to reduce ground data transmission.
- IPO proceeds will fund hardware upgrades and build an in-orbit AI compute service.
What happened
Adaspace has evolved from creating AI-powered payloads on single satellites to deploying a constellation capable of sharing computing resources in orbit. Its introduction of the Star-Compute plan envisions a network of satellites linked to provide customers with flexible AI computing time in space.
The company recently completed two satellite launches, with 12 and 8 satellites in 2025 and 2026 respectively, and successfully ran Alibaba’s Qwen3 model in orbit, showcasing their platform’s adaptability. Adaspace’s upcoming Hong Kong IPO, scheduled for November 13, aims to fund further satellite production and infrastructure enhancements.
Why it matters
By processing data directly onboard satellites, Adaspace reduces the need to downlink raw satellite imagery, improving efficiency and lowering latency for AI applications such as traffic analysis or landscape generation. This approach represents a shift from traditional satellite operations focused solely on data collection.
The company’s rapid revenue increase from satellite services—from less than 1% in 2023 to nearly 58% in early 2026—reflects growing commercial traction. Its backlog of over 100 satellites worth RMB 3.48 billion indicates strong demand for specialized AI satellite capabilities within China’s expanding space and tech ecosystem.
What to watch next
Market participants will closely follow Adaspace’s IPO outcome and how it deploys proceeds toward scaling its satellite constellation and technical platform. Achieving widespread adoption of the Star-Compute service could position the company as a leader in orbital cloud computing and space-based AI infrastructure.
Further satellite launches and real-world applications running onboard artificial intelligence models will demonstrate the robustness and commercial viability of running complex algorithms remotely in orbit. The company’s ability to maintain reliable schedules and handle software updates in space will be critical to sustaining business growth.