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SpaceX received ~$216M in milestone payments in 2025 under its Starship HLS contract. Roughly $3B of a $4.5B potential award has been obligated to date, with ~$2.7B disbursed, reflecting a contract front-loaded with early- and mid-phase milestones.

Does the New White House Executive Order Reframe Artemis Accountability?

The new White House Executive Order formalizes accountability for gov-funded programs while also hard-coding an Artemis deadline. Now that those two coexist on the same page, we take a look at what this means in the context of the President’s Dec. 18 "Ensuring American Space Superiority" action.

Kimberly Siversen Burke

Dec 19

Five Implications of a SpaceX IPO

A successful IPO would trigger another major evolution for SpaceX, which morphed from a pure-play launch company to a vertically integrated satellite constellation operator over the past decade, and is now poised to reinvent itself as an orbital AI company. We won’t know a formal timeline until SpaceX files a Form S-1 with the U.S. Securities and Exchange Commission, but in the meantime, here are five expectations from a SpaceX IPO, should one occur in 2026 or 2027.

Caleb Henry

Dec 18

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