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☆ Ron Baron expects SpaceX's Starlink to go public around 2027
▼ + stars: | 2023-11-10 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

Billionaire investor Ron Baron told CNBC on Friday that he expects SpaceX to IPO its Starlink satellite internet service "in 2027 or so." "We think that by the time they go public with SpaceX, with Starlink … in 2027 or so, four years, the company will be worth $250 billion to $300 billion," Baron said, speaking to CNBC's Andrew Ross Sorkin. Earlier this month, Baron told MarketWatch his eponymous firm's ownership of SpaceX stock was currently valued at about $1.7 billion. Last year, Musk told employees that taking the business public wasn't likely until 2025 or later. SpaceX's valuation has soared to about $150 billion, with Starlink seen as a key economic driver of the company's goals.

Persons: Ron Baron, Starlink …, Baron, CNBC's Andrew Ross Sorkin, SpaceX didn't, Musk, Starlink Organizations: CNBC, SpaceX Locations: Elon

☆ Astra founders offer to take company private at value of about $30 million
▼ + stars: | 2023-11-09 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

The founders of struggling space company Astra have offered to take the company private at a value of about $30 million, according to a securities filing Thursday. That price is a 103% premium to Wednesday's closing price of 74 cents a share, which represents a market value of about $16 million. "We believe that Astra's strategic objectives and business prospects will be best served as a private company. Kemp and London are also "open to certain accredited investor stockholders of the Company rolling their equity into the transaction." The company is running out of cash, with its acquired spacecraft propulsion business yet to drive meaningful quarterly revenue.

Persons: Chris Kemp, Adam London, " Kemp, Kemp Organizations: Astra, San, Company, London, CNBC PRO Locations: San Francisco Bay, Alameda , California, London

☆ Investing in Space: The military doled out $6 billion for rocket launches — and it's not done yet
▼ + stars: | 2023-11-09 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +4 min

CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. The orders are in and we now finally know how the Space Force's most recent block buy of rocket launches shook out: In the end, the military dished out over $5.6 billion in contracts to SpaceX and ULA for 48 launches. The folks over at Space Force's Space Systems Command shared with me the full breakdown of the National Security Space Launch (NSSL) Phase 2 contract awards. In total, Space Force assigned United Launch Alliance (ULA) with 26 missions worth $3.1 billion, while SpaceX got 22 missions worth $2.5 billion. One important thing to keep in mind: This discussion is entirely about ordering launches, not actually launching the rockets themselves.

Persons: CNBC's Michael Sheetz, SSC's, Doug Pentecost, ramped, Pentecost, it's, I've, we've Organizations: SpaceX, Space Force, Systems Command, National Security, United Launch, DOD, Space, SSC Locations: ULA, U.S

☆ Iridium, Qualcomm end satellite-to-phone partnership
▼ + stars: | 2023-11-09 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

U.S. semiconductor giant Qualcomm ended its partnership with satellite communications company Iridium to provide satellite-to-phone services, Iridium announced on Thursday. A number of smartphone makers, service providers and satellite companies have partnered on projects including Apple , Iridium, SpaceX, AT&T , T-Mobile , AST SpaceMobile and more. Qualcomm said in a statement smartphone makers have "indicated a preference towards standards-based solutions" for satellite-to-phone connectivity. Iridium noted in its release that the end of its agreement with Qualcomm allows it to re-engage with others who are working on satellite-to-cell projects. Iridium said the end of the agreements does not affect its full-year 2023 financial guidance.

Persons: Matt Desch Organizations: Qualcomm, Mobile, Congress, Iridium, Apple, SpaceX Locations: Shanghai . U.S

☆ Virgin Galactic pausing flights next year and laying off 18% to focus on next-gen spacecraft
▼ + stars: | 2023-11-08 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

Carrier aircraft VMS Eve releases spacecraft VSS Unity before firing its rocket engine during the Unity 25 spaceflight on May 25, 2023. Virgin Galactic plans to pause spaceflight operations next year to focus resources on developing its next-generation Delta-class spacecraft, the company announced Wednesday. Virgin Galactic laid off about 185 employees on Tuesday, or about 18% of its workforce, in order "to decrease its costs and strategically realign its resources." Virgin Galactic had cash and securities totaling $1.1 billion at the end of the quarter. The company has been spending heavily to expand its fleet beyond the current sole VSS Unity spacecraft.

Persons: Michael Colglazier Organizations: Carrier, VSS, Virgin Galactic, Virgin, LSEG, VSS Unity, Galactic, Delta Locations: Phoenix

☆ Rocket Lab pushes to get launch business back on track, with 22 Electron missions booked next year
▼ + stars: | 2023-11-08 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

Peter Beck, chief executive officer of Rocket Lab, speaks during the US Chamber of Commerce's Global Aerospace Summit in Washington, D.C., Sept 14, 2022. Rocket Lab is pushing to get its launch business back on track by the end of the year, reporting on Wednesday third-quarter results that saw continued strength in its space systems division. Rocket Lab expects to resume Electron launches as soon as Nov. 28, with a mission for Japanese satellite imagery company iQPS. For the fourth quarter, Rocket Lab expects revenue between $65 million and $69 million, with just $16.5 million in revenue from its launch business. With its Electron launches expected to resume, Rocket Lab sees first quarter 2024 revenue climbing to between $95 million and $105 million.

Persons: Peter Beck, Beck Organizations: Rocket, US Chamber of Commerce's Global Aerospace Summit, Washington , D.C, LSEG, Revenue, Wall Street, Lab Locations: Washington ,

☆ Satellite imagery company BlackSky ekes out first quarterly profit
▼ + stars: | 2023-11-08 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

Satellite imagery venture BlackSky delivered its first quarterly profit on Wednesday, as the company works to keep up momentum into the end of the year. BlackSky reported net income of $675,000 for the third quarter, improving from a net loss of $13.1 million reported for the same period a year ago. The company brought in $21.3 million in third-quarter revenue, up 26% from a year prior. Excluding that impact, BlackSky would have reported a third-quarter net loss of about $9.2 million, Dubois said. Shares of BlackSky slipped about 3% in trading from its previous close at $1.20 a share.

Persons: BlackSky, Henry Dubois, Dubois Organizations: New York Stock Exchange

☆ Astra defaults on debt agreement, warns it may not be able to raise needed cash
▼ + stars: | 2023-11-03 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

Struggling space company Astra disclosed in a securities filing late Friday that it defaulted on a recent debt agreement and may not be able to raise needed cash as funds dwindle. Astra twice last month failed to meet minimum cash reserve requirements associated with a $12.5 million note issuance to New Jersey investment group High Trail Capital. The debt raise first required that Astra have "at least $15.0 million of cash and cash equivalents" on hand. That liquidity requirement was adjusted after Astra failed to prove compliance a first time, to require "at least $10.5 million of unrestricted, unencumbered cash and cash equivalents." The company performed a 1-for-15 reverse stock split in September to avoid a Nasdaq delisting, which temporarily brought Astra stock above $1 a share.

Organizations: NASA, Astra, High Locations: Florida's Cape Canaveral, New Jersey

☆ Investing in Space: Regulatory hold up keeps Varda spacecraft stuck in orbit
▼ + stars: | 2023-11-02 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +3 min

CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. There's a small spacecraft zipping around Earth right now, but, unlike most satellites in orbit, it wants to come down. The launch went great, the spacecraft has been healthy, drugs were made, but the necessary license for capsule reentry has not been granted. That may make sense for launch but it's a bit more difficult for reentry," Asparouhov said. How the stratosphere reacts to a reentry capsule in September is very different than February, which is very different than June."

Persons: CNBC's Michael Sheetz, it's, Varda —, Delian Asparouhov, Varda's, Varda, Asparouhov, " Varda Organizations: Air Force's Utah, Federal Aviation, Air Force, FAA Locations: Varda, Australia, Utah

☆ Elon Musk says SpaceX's Starlink business ‘achieved breakeven cash flow’
▼ + stars: | 2023-11-02 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

SpaceX CEO Elon Musk announced Thursday that the company's Starlink satellite internet business "achieved breakeven cash flow." Two years ago, Musk emphasized that making Starlink "financially viable" required crossing "through a deep chasm of negative cash flow." Musk has discussed spinning off Starlink to take it public through an initial public offering once the business was "in a smooth sailing situation." Last year, Musk told employees that taking the business public wasn't likely until 2025 or later. "Being public is definitely an invitation to pain," Musk told SpaceX employees in 2022.

Persons: Elon Musk, Musk, Gwynne Shotwell, Starlink Organizations: SpaceX, Twitter Locations: Bastrop , Texas, Austin

☆ Space Force awards $2.5 billion in rocket contracts to SpaceX and ULA for 21 launches
▼ + stars: | 2023-11-01 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +3 min

A SpaceX Falcon Heavy rocket launches on its mission with a classified payload for the U.S. Space Force at Cape Canaveral, Florida, on Nov. 1, 2022. The U.S. Space Force assigned 21 rocket launches to SpaceX and United Launch Alliance, worth about $2.5 billion in total, the military branch told CNBC. Space Force expanded the NSSL Phase 2 program significantly since naming SpaceX and ULA as its two launch providers in 2020. Space Force had previously announced that of mission assignments, 60% would go to ULA and 40% to SpaceX. The final Phase 2 assignments come as Space Force prepares to ramp up the NSSL program even further with Phase 3.

Persons: Lockheed Martin, Doug Pentecost, ULA, Elon, Pentecost, SpaceX's, ULA's Vulcan Organizations: SpaceX, Heavy, U.S . Space Force, Space Systems Command, Boeing, Lockheed, Falcon, Force's, Systems Command, Tuesday, United Launch Alliance, CNBC, USSF, Space Force, CNBC PRO Locations: Cape Canaveral , Florida, ULA, U.S

☆ Pentagon awards $1.3 billion in contracts to Northrop Grumman and York for 100 satellites
▼ + stars: | 2023-10-30 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

The Pentagon's Space Development Agency on Monday announced about $1.3 billion in contracts to York Space and Northrop Grumman to build communications satellites. Under the T2TL-Alpha awards, Northrop will build 38 "data transport" satellites for $732 million, while York will build 62 satellites for $617 million. Northrop's award to build Alpha variant satellites for T2TL comes months after the defense giant won an SDA order for Beta variants. In August, Northrop won a $733 million award to build 36 satellites for the T2TL-Beta segment of PWSA, alongside Lockheed Martin . The SDA has previously awarded contracts to build and operate satellites in its fleet to SpaceX and L3Harris, in addition to Northrop, York and Lockheed.

Persons: Northrop Grumman, Northrop, Lockheed Martin Organizations: Space Development Agency, York Space, Northrop, Alpha, Lockheed, Pentagon, Space Force, SpaceX, CNBC Locations: York

☆ Investing in Space: How the Pentagon sizes up China’s military strength in space
▼ + stars: | 2023-10-26 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +4 min

CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. Coming in at a whopping 212 pages, the document represents the latest in-depth, albeit unclassified, view of China's military ambitions. The Pentagon highlighted that the space capabilities of the Chinese military, or PLA, are continuing to "mature rapidly" thanks to "significant economic and political resources to growing all aspects of its space program." China's PLA has a "Strategic Support Force," or SSF, under which is the "Space Systems Department", or SSD, that leads its military space operations. The Pentagon emphasized that most of those Chinese satellites can "support monitoring, tracking, and targeting of U.S. and allied forces worldwide, especially throughout the Indo-Pacific region."

Persons: CNBC's Michael Sheetz, landers, it's, Richard DalBello, China isn't Organizations: Taiyuan Satellite, CNBC's, Pentagon, PLA, Force, Systems Department, U.S, China, GPS, NASA Locations: Taiyuan, Shanxi Province, United States, Xi's, China, Namibia, Pakistan, Argentina, Kenya, U.S, Baku

☆ Rocket Lab expects to resume Electron launches before year-end after September failure
▼ + stars: | 2023-10-25 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

An Electron rocket launches the Baby Come Back mission from New Zealand on July 17, 2023. Rocket Lab expects to resume launches of its Electron vehicle before the end of the year, the company announced Wednesday. The Federal Aviation Administration, which is overseeing Rocket Lab's failure investigation, authorized the company to resume Electron launches from its facility in New Zealand. Rocket Lab stock rose about 5% in after-hours trading from its close at $4.09 a share. Rocket Lab is scheduled to report third-quarter results after markets close Nov. 8.

Persons: Peter Beck Organizations: Rocket, Federal Aviation Administration, FAA, SpaceX, CNBC Locations: New Zealand

☆ ULA targets Christmas Eve for inaugural Vulcan rocket launch, CEO says
▼ + stars: | 2023-10-24 | by ( Simona Riccardi | In Sriccardi | ) www.cnbc.com time to read: +2 min

United Launch Alliance plans to launch the inaugural flight of its Vulcan rocket on Christmas Eve, CEO Tory Bruno told CNBC's Morgan Brennan on Tuesday. The Vulcan rocket for the Cert-1 mission stands at SLC-41 during testing in Cape Canaveral, Florida, on May 12, 2023. ULA's path to the first Vulcan launch faced several delays earlier this year, including the explosion of an engine during testing by its supplier Blue Origin, previously reported by CNBC. Following the incident, Bruno told CNBC in a "Manifest Space" podcast interview that the company still planned to fly its heavy-lift rocket by late 2023. The company added a massive contract to launch Amazon's Kuiper satellites to its previously government-heavy backlog for Vulcan.

Persons: ULA, Lockheed Martin —, Bruno, Tory Bruno, CNBC's Morgan Brennan, Vulcan's, ramping, — CNBC's Morgan Brennan, Michael Sheetz Organizations: Boeing, Lockheed, CNBC Technology, Summit, United Launch Alliance, Vulcan, Cert, SLC, CNBC Locations: Cape Canaveral , Florida

☆ Investing in Space: On satellites, the invisible backbone of global industry
▼ + stars: | 2023-10-19 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +4 min

Shipping company Maersk posted record annual earnings for 2022 but warned that profits are set to tumble this year as a "more balanced demand environment" emerges. CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. GPS, geospatial intelligence and satellite communications are the invisible backbone that powers the world's largest industries today." That's the core of Space Capital managing partner Chad Anderson's pitch to new investors about the value of the space industry – and I think the "invisible backbone" element serves as an important reminder. Satellites have been, are, and will continue to be a critical backbone of the world's industries – even if we don't notice.

Persons: CNBC's Michael Sheetz, Chad Anderson's, David Sherry, Sherry, Starlink, We've, Lloyd Organizations: Shipping, Maersk, Space Capital, Starlink, Mitsui, Eastern Pacific Shipping, Polembros Shipping Locations: Danish, Mitsui O.S.K

☆ SpaceX, Blue Origin, Virgin Galactic executives urge senators to improve the FAA
▼ + stars: | 2023-10-18 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +3 min

With the pace of rocket launches accelerating, and competition from China rising, executives from top U.S. space companies on Wednesday urged senators to improve the Federal Aviation Administration's regulatory and licensing processes. The Senate Subcommittee on Space and Science heard from a trio of company representatives from SpaceX, Blue Origin and Virgin Galactic , as well as a pair of industry experts. Gerstenmaier emphasized that the FAA's commercial space office "needs at least twice the resources that they have today" for licensing rocket launches. Wayne Monteith — a retired Air Force brigadier general who also led the FAA's space office — said that Congress should consider consolidating space regulations. "I believe a more efficient one stop shop approach to authorizing and licensing space activities is necessary," Monteith said.

Persons: We've, Bill Gerstenmaier, Gerstenmaier, We're, Phil Joyce, New Shepard, Caryn Schenewerk, Wayne Monteith —, —, Monteith Organizations: SpaceX, NASA's Kennedy Space Center, Federal Aviation, Build, NASA, Virgin Galactic, FAA, CNBC, Blue, Air Force Locations: Cape Canaveral , Florida, China

☆ Space sector investors followed government contracts in the third quarter, report says
▼ + stars: | 2023-10-16 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

Investment in the space sector, especially from venture capital, is consistently flowing into companies that are pursuing and winning government contracts, according to a report Monday by New York-based Space Capital. The firm's third quarter report found that space infrastructure companies brought in $1.6 billion of private investment during the third quarter. The quarterly Space Capital report divides investment in the industry into three technology categories: infrastructure, distribution and application. Venture capital accounted for 50% of the third quarter's investment in space infrastructure, tracking with the historical trend of VCs representing the primary contributors to space investment. Space Capital highlighted the trend of companies and investors chasing government funds as apparent in sub-sectors within space infrastructure, particularly in emerging markets such as space stations and the moon.

Persons: Chad Anderson, Anderson, it's Organizations: International Space Station, Investment, New, Space Capital, CNBC, Space, Infrastructure, Venture, Logistics Locations: New York

☆ SpaceX's Falcon Heavy launches $1 billion asteroid mission for NASA
▼ + stars: | 2023-10-13 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: 1 min

A replay is available in the video player above.] SpaceX's powerful Falcon Heavy rocket successfully launched on Friday morning, carrying a NASA mission bound for a distant asteroid. Targeting the asteroid Psyche, the eponymous NASA mission is flying a spacecraft — about the width of a tennis court — on a journey of almost six years and about 2.2 billion miles, arriving at the planetary body in July 2029. NASA wants to study the composition of the asteroid, which the agency describes as "an unusual object likely rich in metal." The Psyche spacecraft is armed with a variety of scientific tools, such as instruments for studying the asteroid's magnetic field and chemical makeup.

Organizations: NASA, NASA's Kennedy Space Center Locations: Florida

☆ Investing in Space: A reality check on SPAC frenzy revenue projections
▼ + stars: | 2023-10-12 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +13 min

Overview: Forecast or fantasyWe're now at least two years on from when a slew of space companies went public during the SPAC frenzy, and, look, none of them look great. Now a bit further down the road, I want to look at a different financial metric: 2023 revenue projections. I ran an informal series for a while to mark when a space company announced it was going public. The rest of the pack isn't as on the mark: A few companies are roughly halfway to their earlier 2023 revenue projections, or performing even better. Spire forecast 2023 revenue of $227 million and is closing in on about $107 million.

Persons: Angela Weiss, CNBC's Michael Sheetz, it's, I'd, Here's, Derek Tournear, Ron Rosano, Trevor Beattie, Namira Salim, –, REx, Christopher Povak, Lisa Watson, Morgan, – Watson, Morgan Starliner, General, NASA Astrobotic, Andy Lapsa Organizations: New York Stock Exchange, AFP, Getty, Terran, Galactic Astra, CNBC, Pentagon, Space Development Agency, LinkedIn, Galactic, NASA, NASA NRO, Soyuz, – Reuters, Reuters SpaceX, FAA, Federal Aviation Administration, IAC, Lunar Research, SpaceX, Boeing NASA, Moonshots Capital, Lavrock Ventures, Veteran Fund, Mana Ventures, AIN Ventures, Capital Factory, Astra, – Bloomberg, ViaSat, Viasat Locations: Russian, Azerbaijan, Russia, Venezuela, South Africa, Florida, Washington, CNBC Los Angeles

☆ Viasat won't replace damaged Americas satellite, moves up financial targets
▼ + stars: | 2023-10-12 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

A long-exposure photo shows a trail left by SpaceX's Falcon Heavy rocket while launching the ViaSat-3 Americas satellite from Florida on April 30, 2023. Viasat shares rose on Thursday after the company said it expects to meet financial growth targets earlier than expected and that it won't need to replace a damaged $750 million communications satellite. Viasat expects to be free cash flow positive in the first half of 2025, earlier than the second half of 2025 it previously forecast. The company in July disclosed the malfunction with the recently launched Viasat-3 Americas satellite, also known as "ViaSat-3 F1," that occurred while deploying the reflector of the spacecraft's antenna. Together, the pair of Viasat insurance claims total $768 million, which industry executives previously expected would roil the specialty space insurance market.

Organizations: ViaSat, Viasat Locations: Florida, Americas

☆ Shipping giant Maersk to add SpaceX's Starlink internet to more than 330 ships by early next year
▼ + stars: | 2023-10-12 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

Danish logistics giant Maersk is adding SpaceX's Starlink to more than 330 container ships, the companies announced Thursday. Maersk said the installation of the Starlink internet service is expected to be complete by the first quarter of next year, with the satellite network set to provide internet speeds of over 200 Megabits per second. Starlink is the global communications network that Elon Musk's company has been building, with more than 5,000 satellites launched and counting. The company initially targeted consumer customers, and now says Starlink has upward of two million subscribers. It has expanded into other markets — including national security, enterprise, mobility, maritime and aviation — and disrupted the existing satellite communications sector.

Persons: Maersk, Technology Leonardo Sonzio, Starlink Organizations: of Fleet Management, Technology, Elon, Maersk, SpaceX

☆ Amazon launches first internet satellite prototypes
▼ + stars: | 2023-10-06 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +3 min

Even ULA's details about the launch are limited, with the info provided comparable to when the rocket company flies classified spy satellites for the U.S. government. watch nowLast year, Amazon announced the biggest corporate rocket deal in the industry's history to launch Kuiper satellites, signing launch contracts with ULA, Arianespace, and Jeff Bezos' Blue Origin. As part of that deal, Amazon expects to pay about $7.4 billion for Kuiper launches over the next five years. Amazon is playing catch up to SpaceX, which has grown its Starlink satellite internet service to more than 2 million customers. This year Amazon revealed a trio of satellite antennas that it plans to sell to Kuiper customers.

Persons: Paul Hennessey, Jeff Bezos, Elon Musk Organizations: Alliance, V, Cape Canaveral Space Force, Anadolu Agency, Getty, United, U.S ., Amazon, Kuiper, SpaceX, Elon, Seattle – Locations: Cape Canaveral , Florida, United States, Florida, ULA, Seattle, Washington, Redmond, Kirkland, San Diego, Austin , Texas , New York City

☆ Investing in Space: Trust NASA's private orbital station development process
▼ + stars: | 2023-10-05 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +3 min

NASA astronaut Frank Rubio peers out of a window aboard the SpaceX's Crew Dragon spacecraft Freedom while docked to the International Space Station. I don't know if NASA's Angela Hart is a Sixers fan, but her take on the current landscape of private space station development matches the "trust the process" rallying cry that the Philadelphia basketball team made so famous. And I agree with Hart, NASA's top commercial space station official: It's early days of companies taking the lead on orbital research habitats. To rewind a bit here: The International Space Station is expected to retire in 2030, so NASA is helping fund development of next-generation orbital habitats. With all that said, three key facts in the private space station landscape haven't changed:

Persons: Frank Rubio, CNBC's Michael Sheetz, NASA's Angela Hart, Hart, Northrop Grumman, Lockheed Martin Organizations: NASA, International Space, Sixers, Philadelphia basketball, Cargo, Voyager, Airbus, Lockheed, Origin, Blue, SpaceX Locations: U.S

☆ Watch Elon Musk give updates about SpaceX from annual space congress
▼ + stars: | 2023-10-05 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

Elon Musk is speaking Thursday during the world's annual space congress, where the SpaceX CEO is expected to give updates on development of the company's monster Starship rocket. SpaceX earlier this year made its first attempt at launching Starship into space, but the craft exploded a few minutes into the test flight. The company is now preparing to make its second Starship flight attempt, as regulators review its application for a launch license. Musk is speaking virtually at the 74th edition of the International Astronautical Congress (IAC), which this year is held in Baku, Azerbaijan. The space conference comes two weeks after Azerbaijan military forces converged on the disputed Nagorno-Karabakh region, to the west of Baku.

Persons: Elon Musk, Musk, Ilham Aliyev Organizations: Elon, SpaceX, International Astronautical Congress, IAC, Azerbaijan Locations: Baku, Azerbaijan, Mars, Nagorno, Karabakh

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