Intuitive Machines Inc. (LUNR) shares soared on Wednesday morning, propelled by the company’s announcement of a new and substantial NASA contract. The deal, valued at a potential $4.82 billion, marks a major milestone for Intuitive Machines and signifies its pivotal role in the future of space exploration.
After the market closed on Tuesday, Intuitive Machines revealed that NASA had awarded them a Near Space Network contract. This contract will see Intuitive Machines providing communication and navigation services for missions operating in the near space region, encompassing the area surrounding Earth and extending into the vastness of space. The contract spans a base period of five years, with the potential to extend for another five years, bringing the total duration to a decade.
This substantial agreement will see Intuitive Machines deploy a network of lunar relay satellites. These satellites will provide essential data and transmission services, enabling enhanced communication and navigation capabilities for missions like NASA’s ambitious Artemis campaign. The Artemis program aims to establish a sustainable human presence on the Moon, laying the groundwork for future lunar exploration and research.
Steve Altemus, CEO of Intuitive Machines, expressed the company’s enthusiasm for the contract, stating, “This contract marks an inflection point in Intuitive Machines’ leadership in space communications and navigation. We’re pleased to partner with NASA, as one team, to support the Artemis campaign and endeavors to expand the lunar economy.”
Intuitive Machines’ shares experienced a significant surge earlier this year following the successful landing of its Moon lander, Odysseus, on the lunar surface. This marked the first time the U.S. had returned to the Moon since 1972. The company’s stock has also attracted considerable attention from retail investors in recent weeks, with traders eagerly anticipating news of potential contracts.
The awarding of this NASA contract is a testament to Intuitive Machines’ expertise and commitment to space exploration. The company is poised to play a key role in the development of lunar infrastructure and the advancement of human exploration beyond Earth.
