Shares of space exploration company Intuitive Machines (LUNR) skyrocketed on Wednesday, surging over 47% after the company secured a major contract from NASA worth up to $4.82 billion.
The contract, called the Near Space Network, involves providing communication and navigation services for missions in the near space region extending from Earth's surface to beyond the Moon. It has a base period of five years with an additional five-year option.
This landmark deal represents a significant milestone for Intuitive Machines, positioning the company as a leader in space communications and navigation infrastructure. According to CEO Steve Altemus, the contract marks "an inflection point" for the company, supporting NASA's Artemis campaign and enabling the expansion of the lunar economy.
Under the contract, Intuitive Machines will deploy a constellation of lunar satellites to enable enhanced data transmission services, autonomous operations, and assist in tasks such as landing site selection and resource prospecting. These capabilities are crucial for facilitating future exploration and operations on the Moon.
