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☆ SpaceX and T-Mobile send first texts via Starlink satellites
▼ + stars: | 2024-01-10 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

SpaceX founder Elon Musk and T-Mobile CEO Mike Sievert on stage during a T-Mobile and SpaceX joint event in Boca Chica Beach, Texas, on Aug. 25, 2022. SpaceX successfully sent text messages via Starlink satellites using T-Mobile's network, it announced Wednesday, as Elon Musk's company aims to bring its direct-to-device cell service to market in the coming year. The recent test comes as major players pursue the market to connect unmodified phones directly to satellites, a nascent subsector of the space economy. SpaceX last week launched the first six Starlink satellites equipped with direct-to-device, or D2D, capabilities, after receiving authorization from the Federal Communications Commission last month to test the technology. The company said it performed the texting demonstration on Monday — in which SpaceX "sent and received our first text messages to and from unmodified cell phones on the ground to our new satellites in space" — and declared the test "validates" that "the system works."

Persons: Elon Musk, Mike Sievert, Elon Organizations: SpaceX, Mobile, Boca, Federal Communications Commission Locations: Boca Chica Beach , Texas

☆ NASA delays crewed Artemis moon missions into 2025 as companies navigate challenges
▼ + stars: | 2024-01-09 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +2 min

NASA is pushing back the schedule for upcoming missions of its flagship Artemis lunar program by about a year as the agency's contractors work to finish technology needed to return U.S. astronauts to the moon's surface. Artemis 2 — with a four-person crew, which NASA announced last spring — was previously planned to launch in November, while Artemis 3 had been targeting December 2025. The pair of missions are set to follow the uncrewed Artemis I mission that flew in 2022. The Artemis program represents a series of missions with escalating goals, aiming to return astronauts to the lunar surface for the first time since the Apollo era. Nelson's comments confirm reporting by CNN and Reuters that NASA would be pushing out the schedule for the program.

Persons: Artemis, Reid Wiseman Victor Glover, Christina Koch, Jeremy Hansen, Bill Nelson, —, Lockheed Martin, Elon, Jeff Bezos Organizations: NASA, Artemis, CNN, Reuters, Boeing, Northrop Grumman, Lockheed, SpaceX, Collins Aerospace, SpaceX's Locations: U.S

☆ U.S. lunar company's inaugural mission falls short of moon landing after spacecraft malfunction
▼ + stars: | 2024-01-09 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

Astrobotic's Peregrine lunar lander is seen during preparations for launch near NASA's Kennedy Space Center in Florida. Pittsburgh-based Astrobotic's inaugural lunar mission suffered a malfunction shortly after launch, and the company is calling off the landing attempt. It would have been the first U.S. moon landing in more than 50 years. The company suspects the malfunction was a failure within the spacecraft's propulsion system, causing a leak that is quickly draining the vehicle of fuel. However, after activating its propulsion system, Peregrine suffered an issue and began tumbling.

Persons: Astrobotic, Peregrine Organizations: NASA's Kennedy Space Center, NASA Locations: NASA's, Florida . Pittsburgh, U.S, Cape Canaveral , Florida

☆ SpaceX plans key NASA demonstration for next Starship launch
▼ + stars: | 2023-12-05 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

SpaceX could attempt a key demonstration for NASA during the third test flight of its towering Starship rocket, according to the federal agency. The propellant transfer demonstration would require that the rocket reach orbit as one of the demo's goals. "NASA and SpaceX are reviewing options for the demonstration to take place during an integrated flight test of Starship and the Super Heavy rocket. However, no final decisions on timing have been made," NASA spokesperson Jimi Russell said in a statement to CNBC. SpaceX CEO Elon Musk said shortly after November's flight test that hardware for a third Starship launch "should be ready to fly in 3 to 4 weeks."

Persons: SpaceX's, Jimi Russell, Elon Musk Organizations: Boca Chica, SpaceX, NASA, Super, CNBC, Federal Aviation Administration Locations: Brownsville , Texas, U.S

☆ Amazon buys SpaceX rocket launches for Kuiper satellite internet project
▼ + stars: | 2023-12-01 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

Amazon bought three rocket launches from SpaceX for its Project Kuiper internet satellites, the tech giant announced on Friday. The move is a surprise from Amazon, given the company's Kuiper system aims to compete with Elon Musk's Starlink in the satellite broadband market. SpaceX, the most active rocket operator in the world, has been adamant that it will continue launching Starlink competitors on its rockets. The company previously launched a number of other companies' broadband satellites to orbit and signed deals for future launches as well. In Friday's announcement, Amazon said it signed with SpaceX for three Falcon 9 launches in mid-2025.

Persons: Elon Musk's, Jeff Bezos, Musk, Bezos Organizations: Amazon, SpaceX, Elon, Elon Musk's Starlink

☆ Investing in Space: Understanding Starship's second test flight
▼ + stars: | 2023-11-30 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +4 min

SpaceX's next-generation Starship spacecraft atop its powerful Super Heavy rocket is launched from the company's Boca Chica launchpad on an uncrewed test flight, near Brownsville, Texas, U.S. November 18, 2023. CNBC's Investing in Space newsletter offers a view into the business of space exploration and privatization, delivered straight to your inbox. In one sense, we're now two weeks (and a holiday breather) on from SpaceX's most recent test flight of a Starship prototype. The extremely public display, as well as SpaceX's polarizing owner, is a double-edged sword for understanding Starship test flights. Few call the Starship launches what they are: research.

Persons: SpaceX's, CNBC's Michael Sheetz Organizations: Boca Chica, CNBC's, SpaceX Locations: Brownsville , Texas, U.S, South Texas, Hawaii

☆ Bank of America says this stock is the 'strongest pure-play space name' with the potential to double
▼ + stars: | 2023-11-28 | by ( Alex Harring | ) www.cnbc.com time to read: +1 min

Rocket Lab shares have the potential to take off, according to Bank of America. Analyst Ronald Epstein reiterated his buy rating on the space stock while shaving his price target down by $2 to $10. Epstein's new price target implies the stock could soar 134.2% from Monday's close. After investigating the September mid-flight failure of its Electron rocket, Rocket Lab is aiming to get its launch business back on track by the end of the year. The analyst's price target cut followed a reassessment of the discount rate following the Electron launch snafu.

Persons: Ronald Epstein, Epstein, Bank of America's Epstein, Epstein doesn't, CNBC's Michael Bloom, Michael Sheetz Organizations: Bank of America, Bank of, MDA Locations: Monday's

A gas pump selling E15, a gasoline with 15 percent of ethanol, is seen in Mason City, Iowa, United States, May 18, 2015. The decision underscores concerns within President Joe Biden's administration over fuel prices, as opinion polls show inflation and the economy as key vulnerabilities for his 2024 re-election bid. But the U.S. government restricts sales of E15 gasoline in summer months due to environmental concerns over smog. The ethanol industry for years has pushed to lift the restrictions on E15 sales nationwide, arguing the environmental impacts have been overstated. Oil industry-backed studies showed price increases, while ethanol industry-backed studies showed any price increases offset by utilizing lower-cost ethanol.

Persons: Jim, Joe Biden's, Phillips, Biden's, Ed Hirs, Hirs, Jarrett Renshaw, Stephanie Kelly, Will Dunham Organizations: Farm, NBC, Governors, Environmental, Agency, EPA, HF Sinclair Corp, White, University of Houston, Thomson Locations: Mason City , Iowa, United States, Illinois , Iowa , Kansas , Minnesota , Nebraska, North Dakota, South Dakota, Wisconsin, Ukraine, Nebraska, Iowa

☆ SpaceX attempts second Starship rocket launch
▼ + stars: | 2023-11-18 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

SpaceX is set to make a second attempt at launching its Starship rocket to space on Saturday, with the company looking to push development of the mammoth vehicle past new milestones. ET, in which to launch Starship from its Starbase facility near Boca Chica, Texas. SpaceX first launched a full Starship rocket system in April. The Federal Aviation Administration cleared SpaceX for a second launch attempt earlier this week. The launch attempt comes on the heels of renewed backlash against SpaceX CEO Elon Musk over comments made online.

Persons: SpaceX's, Elon Musk, Musk Organizations: Boca Chica, SpaceX, Federal Aviation Administration Locations: Brownsville , Texas, U.S, Boca Chica , Texas, Kauai

☆ Amazon says its first Project Kuiper internet satellites were fully successful in testing
▼ + stars: | 2023-11-16 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

A little over a month after launch, Amazon on Thursday announced its pair of prototype internet satellites were fully successfully in operations and testing. "We were able to validate everything and get all the data that we need," Project Kuiper Vice President of Technology Rajeev Badyal told CNBC. Project Kuiper is Amazon's plan to build a network of 3,236 satellites in low Earth orbit to provide high-speed internet access anywhere in the world. With the prototypes' testing in space now complete, Badyal said Amazon plans to begin building the first production Kuiper satellites in December and launch the first satellites for its network in the "latter part of the first half" of 2024. Badyal emphasized that Amazon wasn't sure what performance to expect from the prototype satellites, since "you don't know how well it's going to work in space."

Persons: Technology Rajeev Badyal, Badyal Organizations: Kuiper, Technology, CNBC, Amazon Locations: Florida

☆ Sierra Space lays off hundreds in push toward first Dream Chaser spaceplane launch
▼ + stars: | 2023-11-16 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +3 min

Former Sierra Space employees told CNBC that the layoffs included a significant number of contractors, with the cuts including hundreds of personnel in total. Sierra Space this week shipped the first Dream Chaser, named Tenacity, for pre-launch testing at NASA's Armstrong facility in Ohio. The first Dream Chaser launch was previously scheduled for late last year, but delays in the development of United Launch Alliance's Vulcan rocket pushed back that timeline. Dream Chaser is planned to launch on ULA's second Vulcan mission, with the first Vulcan launch targeting December. Dream Chaser has won NASA contracts to fly seven cargo missions to and from the International Space Station.

Persons: Eren, Sierra, Jeff Babione, Gupta Organizations: CNBC, Sierra Space, NASA's Armstrong, Sierra, Sierra Nevada Corp, Fatih, Sierra Space's, Space, NASA Space Shuttle, United, Vulcan, NASA, International Space Locations: The Colorado, Sierra, Ohio

☆ Investing in Space: Deutsche Bank draws investors, companies for NYC for summit
▼ + stars: | 2023-11-16 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +3 min

Yesterday Deutsche Bank held a Space Summit conference here in New York City. Investors want to invest in space, but investors understand that this is a long investment cycle," Lohiya said. In general, the space sector is "much more rationalized" than bubble times of two or three years ago, Lohiya noted. Lohiya said the space sector is different than other fast-growing American industries, such as electric vehicles, clean energy or fintech. There's no doubt of a liquidity crunch that reaches beyond the space sector.

Persons: CNBC's Michael Sheetz, I've, Lohiya, There's Organizations: Deutsche Bank, CNBC, Rocket Lab, Deutsche, Investment Banking, Space Locations: New York City, New York

☆ Elon Musk says SpaceX should receive clearance to attempt second Starship launch this week
▼ + stars: | 2023-11-14 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

SpaceX is pushing hard to launch the second spaceflight of its Starship rocket this week. CEO Elon Musk claimed the company will receive its federal launch license in the coming days, the final hurdle before a second attempt. The company has been waiting for the completion of a federal environmental review led by the Federal Aviation Administration and the U.S. Musk did not specify who informed him of the impending regulatory approval, and SpaceX did not respond to CNBC's request for clarification. SpaceX needs a launch license from the FAA in order to make its second attempt at flying Starship to space.

Persons: Elon Musk, Musk Organizations: Super, SpaceX, Federal Aviation Administration, U.S . Fish, Wildlife Service, FAA Locations: Texas, U.S

☆ Boeing close to Emirates deal for more 777 jets, reports say
▼ + stars: | 2023-11-12 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: 1 min

A Boeing 777X airplane takes off during its first test flight from the company's plant in Everett, Washington, January 25, 2020. Boeing and Emirates are reportedly close to a major order of 777 jets, which would further bolster the airline's existing position flying world's largest fleet of the widebody aircraft type. The deal is expected to feature "several dozen" of the jets, according to Bloomberg and Reuters, citing sources familiar with the negotiation. That would add to Emirates' existing order backlog for 155 of the 777X aircraft, the reports noted. Boeing and Emirates did not immediately respond to CNBC's request for comment on the reports.

Organizations: Boeing 777X, Boeing, Emirates, Bloomberg, Reuters, 777X, Airbus Locations: Everett , Washington, Emirates

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailElon Musk's Starlink business has grown quickly and so has its influenceSpaceX has said its satellite internet service, Starlink, now has more than 2 million active customers and is available on all seven continents and in over 60 countries. Praised for its ability to connect remote parts of the world , Starlink has also become indispensable in areas hit by natural disasters, and, more recently, during times of conflict, particularly in the Russia-Ukraine war. But some are worried about Musk's and Starlink's growing influence.

Persons: Elon Musk's, Starlink Organizations: Elon, SpaceX Locations: Russia, Ukraine

☆ 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

☆ 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

☆ 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

☆ 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

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