Cryptocurrency punters are not very hopeful about an official agreement between Space Exploration Technologies Corp. (NASDAQ:SPCX) and Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) subsidiary Google to build data centers in orbit around Earth.
Polymarket Odds Fall Sharply
Polygon (CRYPTO: POL)-based Polymarket currently assigns only a 13% chance of this happening before Dec. 31, down from 53% a month ago. The odds have cratered since reaching a peak of 81%.
An official agreement between Google and SpaceX related to launching, developing, operating, or partnering on orbital data centers will suffice for a “Yes” resolution.
Is Space Computing the Future?
Orbital compute refers to computers and servers that operate aboard satellites or space stations in Earth’s orbit.
Elon Musk has been a long-standing advocate of orbital computing and expressed confidence that SpaceX could prepare to build orbital data centers as soon as next year.
He said that space-based computing is inevitable because it offers a "trillion times" more scale than anything possible on Earth.
In May, reports surfaced that SpaceX and Google are in talks for a launch deal, with Google planning prototype satellite launches by 2027
Google CEO Sundar Pichai said that "tiny racks of machines" in satellites could become a normal way to build data centers within a decade.
Price Action: SpaceX shares rose 0.63% in after-hours trading after closing 6.70% lower at $115.26 during Wednesday’s regular trading session. Alphabet shares
According to Benzinga’s Edge Stock Rankings, the SPCX stock has shown a weaker price trend across short-, medium-, and long-term horizons
Photo Courtesy: Paopano on Shutterstock.com
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