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Intuitive Machines Wins 10-Year NASA Contract Worth Up to $4.82 Billion, Shares Surge 50%

Sep 18, 2024, 09:44 AM

Intuitive Machines has been awarded a Near Space Network contract by NASA with a maximum potential value of $4.82 billion. The 10-year indefinite-delivery, indefinite-quantity (IDIQ) contract aims to support communication and navigation services for missions in the near space region, which extends from Earth's surface to beyond the Moon. The contract has an initial five-year base period starting on October 1. As part of the contract, Intuitive Machines will deploy lunar relay satellites and provide essential communication and navigation services. Following the announcement, Intuitive Machines' stock surged by over 50%, reflecting investor confidence in the company's future prospects.