Shares of space exploration company Intuitive Machines ($LUNR) skyrocketed by over 60% on Wednesday, September 18, 2024, after the company secured a major contract from the National Aeronautics and Space Administration (NASA).
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, with a maximum potential value of $4.82 billion.
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, aligning with NASA's Artemis campaign to establish a sustainable human presence on the lunar surface.
