Space Stocks Jump Up to 3% Overnight as Musk Pitches AI Satellites with 150kW Capacity

Overnight, space stocks including Rocket Lab (RKLB) and Redwire (RDW) each gained 3%, while Intuitive Machines (LUNR) edged up 0.2%, as Elon Musk unveiled an "AI 1" satellite concept capable of 150 kilowatts of peak power and 120 kilowatts of sustained compute. The gains came ahead of SpaceX's Nasdaq debut on June 12, with the company expected to price its IPO at $135 per share on June 11, raising $75 billion and valuing the firm at $1.77 trillion. Musk stated SpaceX aims to increase annual payload deliveries to orbit from 2,500 tons to millions of tons, supported by space-based computing infrastructure.
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