Space is a vacuum and yet here we are on a rock floating in space warmed by the sun and the temperate is actually pretty comfortable. Indeed, without the greenhouse effect it would be positively chilly. An important part of a thermos is that you have to use high albedo materials in the vacuum chamber or else it would lose heat too quickly to radiation.

A satellite as a whole will come to thermal equilibrium with space at a fairly reasonable temperature, the problematic part is that the properties of electricity make it easy to concentrate a good part of the incoming energy in a small area where the GPU is. Heat is harder to move than electricity and getting that heat back out to the solar panels or radiators requires either heavy heat pipes or complex coolant pumps.