In the nearly two months since former Google chief executive Eric Schmidt acquired Relativity Space, the billionaire has not said much publicly about his plans for the launch company. However, his intentions for Relativity now appear to be increasingly clear: He wants to have the capability to launch a significant amount of computing infrastructure into space.

We know this because Schmidt appeared before the House Committee on Energy and Commerce during a hearing in April, speaking on the future of AI and US competitiveness. Among the topics raised then was the need for more electricity—both renewable and non-renewable—to power data centers that will facilitate the computing needs for AI development and applications. Schmidt noted that an average nuclear power plant in the United States generates 1 gigawatt of power.

"People are planning 10 gigawatt data centers," Schmidt said. "Gives you a sense of how big this crisis is. Many people think that the energy demand for our industry will go from 3 percent to 99 percent of total generation. One of the estimates that I think is most likely is that data centers will require an additional 29 gigawatts of power by 2027, and 67 more gigawatts by 2030. These things are industrial at a scale that I have never seen in my life."

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As he consolidates control over Relativity Space, new owner and chief executive Eric Schmidt is planning significant changes at the launch company, including a likely move to the Lone Star State.

Schmidt's recent acquisition of the California-based company, which has largely evolved away from its 3D-printing origins to becoming a more conventional rocket developer, has solved Relativity's primary need. The company has been in a cash crunch for months, and being acquired by one of the 50 wealthiest people on the planet provides financial stability.

One source said Schmidt has made a "mega" investment in Relativity, but the company has not publicly stated the size. It is likely to be at least $1 billion, if not more. Schmidt is also taking an active hand in operations.

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Former Google CEO Eric Schmidt is taking over as the CEO of Relativity Space, a 9-year-old rocket startup, a company spokesperson confirmed in a statement to TechCrunch. This is Schmidt’s first CEO job since he left Google nearly 15 years ago. On Monday, Schmidt told employees of Relativity Space that he made a significant investment […]

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Another Silicon Valley investor is getting into the rocket business.

Former Google chief executive Eric Schmidt has taken a controlling interest in the Long Beach, California-based Relativity Space. The New York Times first reported the change becoming official, after Schmidt told employees in an all-hands meeting on Monday.

Schmidt's involvement with Relativity has been quietly discussed among space industry insiders for a few months. Multiple sources told Ars that he has largely been bankrolling the company since the end of October, when the company's previous fundraising dried up.

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For several years, an innovative, California-based launch company named Relativity Space has been the darling of investors and media.

Relativity promised to disrupt launch by taking a somewhat niche technology in the space industry at the time, 3D printing, and using it as the foundation for manufacturing rockets. The pitch worked. Relativity's chief executive Tim Ellis liked to brag that his first investor call was to Dallas Mavericks owner Mark Cuban, who cut the company's first check. Cuban invested half a million dollars.

That was just the beginning of the torrent of fundraising by Ellis, who, by November 2023, turned the privately held Relativity into a $4.5 billion company following its latest, Series F funding. This was an impressive start for the company founded by Ellis and Jordan Noone, both engineers, in 2016.

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