🚀 Spire Partners with Nvidia

🚀 Spire Partners with Nvidia

March 22, 2024

The Space Scoop

Week Ended 03.22.2024

Happy Friday! 2024's SATELLITE Conference has now come to a close. A massive partnership was announced for one space SPAC and Intuitive Machines announced its first earnings report following the IM-1 mission. Lets dive in.

Market Max-Q

Top Stories

1) Spire ($SPIR) partners with NVIDIA ($NVDA) to enhance AI-driven weather prediction.

  • This collaboration aims to "usher in a new era of accuracy in weather forecasting."

  • Spire’s Radio Occultation (RO) data and proprietary data assimilation (DA) capabilities will be integrated with NVIDIA Earth-2 Cloud APIs to leverage AI to accelerate climate and weather predictions.

  • SPIR shares closed Monday +30%, after being up as much as +58%. For the week, SPIR shares closed down -4% as SPIR took advantage of the price appreciation to announce a $30M direct offering at $14.00 per share with two institutional investors.

2) Intuitive Machines ($LUNR) announced its first earnings report following the IM-1 mission and noted it is in "a position of financial strength." Highlights include:

  • Cash & Equivalents: $55M (Mar 1)

  • Revenue: $80M, -7% YoY

  • Oper. Loss: $(56)M vs $(6)M

  • Adj. EBITDA: $(50)M vs. $(9)M

  • Contracted Backlog: $269M

  • Shares: +3%

In Other News

BAE Systems Seeks $4B For Refinancing 

$BAESY agreed to purchase Ball Aerospace in August 2023 for $5.6B. According to Bloomberg sources, the company is now looking to a corporate bond sale "that could top" $4B to refinance a bridge loan used for the acquisition.

Blackwave Raises $6.6M Seed Extension Round 

The German-based carbon fiber specialist plans to use the capital to expand production of carbon fiber structures for launch vehicles, satellites and other space-related applications. Alpine Space Ventures led the investment round.

Alpine Space Ventures Receives €10M Investment from NIF 

The NewSpace European investment fund manager will integrate the NATO Innovation Fund capital to back the development and deployment of innovative space technologies. This announcement follows a €60M investment by the European Investment Fund (EIF) last year.

Chart of the Week

(Source)

Links

• SpaceX Is Developing Classified Constellation of Earth-Imaging Spy Satellites Under Its Starshield Business• Terran Orbital’s ($LLAP) Milani Satellite Delivered to the ESA for Hera Mission• Viasat ($VSAT) to Bring In-Flight Connectivity to an Additional 40 Aircraft in Korean Air Fleet• Planet ($PL) Expands Strategic Partnership with SynMax• Rocket Lab ($RKLB) Successfully Launches Fifth National Security Mission for NRO• Walmart ($WMT) Appears to Be Globalstar's ($GSAT) Secret Customer

Opinion

• The Man-Made Miracle of SpaceX• Q&A with COO of Spire ($SPIR)• Spire ($SPIR): Vast Potential And Vast Uncertainty• AST SpaceMobile ($ASTS): Reaching Commercialization Phase

Earnings Calendar

• $LLAP: Mar 26 - Before Market Open• $SIDU: Mar 27 - Before Market Open• $TSAT: Mar 28 - Before Market Open• $PL: Mar 28 - After Market Close• $ASTS: Apr 1 - After Market Close

*Company confirmed dates only.