Shares of Intuitive Machines (LUNR) climbed Tuesday after reports that NASA is close to announcing a bulk purchase of rocket launches. The purchases would support the agency's estimated $30 billion initiative to establish a permanent base on the Moon.
A NASA official reportedly said the agency could buy launches from four or five rocket providers and pair them with commercial landers. Intuitive Machines, a key provider of lunar landers and related services through NASA's Commercial Lunar Payload Services (CLPS) program, could benefit from increased demand for lunar missions.
The prospect of large government contracts fueled investor optimism and contributed to the stock's rise. The news comes as investor interest in the space sector is increasing.