Google wants to use its own TPU to send itself into space by borrowing a SpaceX rocket. Project Suncatcher’s first on-orbit test has taken place, and in low Earth orbit, solar power can be up to 8 times that on the ground. The battle for AI infrastructure—fought from the ground all the way to space. For crypto, this is a shot of adrenaline for AI’s narrative: the more capital pushes toward the frontier, the more appetite for risk grows, and the higher the beta, the more it’s favored. But when real money is poured into space computing power, it’s also competing for the same pool of liquidity. That’s the whole story. If the story can spark a fire, don’t treat the narrative as fundamentals.

$ETH #AI叙事 #算力竞赛 #Risk appetite