If 'Space AI Data Centers' Are Built... 'This Company' to Benefit [Weekend Money]

iM: "Solar Cell Demand to Expand; U.S. Restrictions on China
Put OCI Holdings, Daejoo Electronic Materials and Nano New Materials in Focus"

Demand for data center construction is rising sharply as the use of artificial intelligence (AI) surges. As discussions extend beyond terrestrial facilities to include space-based data centers, analysts say solar and materials companies could benefit from data center expansion both on Earth and in space.

Jung Won-seok, an analyst at iM Securities, said, "Data center expansion on Earth and in space is expected to create a new source of demand for the solar industry. On Earth, demand may grow for power supplies that combine solar power with energy storage systems (ESS), while in space, demand may expand for solar cells to power satellites' communications and computing equipment."

SpaceX has set a goal of securing 100 GW of annual solar manufacturing capacity in the United States. The company is pursuing its "StarMind" business, which involves using Starship to deploy AI computing satellites, powering their computing with solar-generated electricity, and then transmitting the results through Starlink and optical communications networks. Space-based data centers are emerging as an alternative that could address constraints on terrestrial infrastructure, such as procuring power generators, securing sites, and obtaining fuel.

For space applications, the role of HJT (heterojunction) solar modules is expected to gain prominence, given their advantages in lightweight design and mass production. Jung estimated that "in 2035, when StarMind's annual new deployment capacity reaches 50 GW in computing power, SpaceX's annual solar cell production will be about 67 GW, including surplus production based on Starlink demand."

Domestic companies are expected to benefit as this trend coincides with U.S. restrictions on China. The United States is tightening regulations on Chinese supply chains, while investment in domestic manufacturing is concentrated in modules, creating a need to expand supply capacity in upstream processes. Jung said, "However, new entrants face significant barriers in polysilicon because it requires substantial investment, long construction periods, high electricity costs, and technology for mass-producing high-purity products. We believe Tesla and SpaceX are also more likely to source polysilicon through long-term supply agreements with established non-Chinese suppliers than to produce it themselves."

Domestic companies that could respond to these developments include OCI Holdings, Daejoo Electronic Materials, and Nano New Materials. OCI Holdings has the capacity to produce high-purity, non-Chinese polysilicon. Shipments to new U.S. customers are set to begin as early as 2027, and the company plans to increase its production capacity from 35,000 tons to 70,000 tons by 2029, based on long-term supply agreements.

Daejoo Electronic Materials and Nano New Materials have attracted attention amid expectations that demand will also grow for electrode materials that are repeatedly used as solar cell production scales up. Jung said, "Daejoo Electronic Materials could secure supply opportunities for silver paste used in metal electrodes, while Nano New Materials could do so for TCO targets and silver paste used in transparent electrodes. If customer certifications and supply arrangements take shape based on the two companies' materials technologies and mass-production experience, solar cell materials are expected to become a new pillar of medium- to long-term growth."

This content was produced with the assistance of AI translation services.