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SpaceX Stock Rises as the U.S. Space Force Awards $1.6 Billion in Launch Contracts to Elon Musk's Company

SpaceX stock rose 3.3% on Thursday following a $1.6 billion award from the U.S. Space Force for the National Security Space Launch program. The contract includes 18 launches of the Falcon 9 rocket to support the Space Based Sensing and Targeting portfolio, which aims to provide surveillance and target-tracking satellites in low-Earth orbit. While the news was positive for investors, House Committee on Energy and Commerce member Frank Pallone sent a letter to Elon Musk demanding a tour of the Colossus data center. Frank Pallone alleged that the gas-powered turbines used at the facility lack proper environmental permits and pose health risks to local communities. The inquiry follows a move by the Federal Aviation Administration to waive certain environmental regulations for commercial space companies to ease operations. Despite the regulatory scrutiny, SpaceX remains a key provider for the Space Development Agency and National Reconnaissance Office, continuing to growth in the space sector.

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