SpaceX shares rise nearly 20% in historic IPO

SpaceX raised about $75 billion by selling nearly 555.6 million shares at $135 in one of the most consequential public listings the space sector has seen. The stock opened around $150 and closed at $160.95, up 19.2 percent on its first day of trading, putting the company near a $2.1 trillion market capitalization. The debut gives SpaceX a much larger pool of capital while also bringing the company under the disclosure and performance pressures that come with public ownership. The listing is likely to ripple across launch, satellite and defense-space markets as investors reassess the scale of the commercial space economy.

Pentagon may 'sacrifice' traditional weapons to buy more drones if reconciliation fails: CTO

Pentagon technology chief Emil Michael said the department may trim more expensive traditional weapons programs if Congress fails to pass the proposed $350 billion reconciliation package. He argued the department wants to protect spending on low-cost autonomous systems and broader drone procurement even if that forces painful portfolio trade-offs. The comments highlight how closely the Pentagon's modernization push is now tied to congressional budget politics.

Iran deal could include reopening Hormuz

The Hill reported that a developing U.S.-Iran agreement is roughly three-quarters complete and could be signed within days, according to a senior Trump administration official. One reported element would reopen the Strait of Hormuz, a chokepoint with immediate implications for energy shipping and regional military posture. Even before signature, the prospect of a Hormuz reopening is shaping debate over sanctions, maritime security and the administration's Iran policy.

Avanti trims GEO exposure with Hylas-3 sale

Avanti Communications agreed to sell its Hylas-3 Ka-band hosted payload to Sky Perfect JSAT, signaling another step away from the debt-heavy GEO expansion strategy that once defined the company. Hylas-3 launched in 2019 and serves coverage across Europe, the Middle East, Africa and parts of Asia. The transaction gives JSAT another growth asset while helping Avanti reduce exposure to an aging geostationary broadband fleet.

All in on AI at Astra

SpaceNews reports Astra is recasting itself around AI, electric propulsion sales and its in-development Rocket 4 after the collapse of its earlier public-market boom. Chris Kemp said the company generated nearly $50 million in 2025 revenue from spacecraft thrusters and posted slight adjusted EBITDA profitability. The update suggests Astra is trying to rebuild around narrower, more defensible business lines while still targeting a Rocket 4 debut later this year.

US forces shoot down Iranian drones targeting ships in Strait of Hormuz: Centcom

U.S. Central Command said American forces shot down multiple Iranian one-way attack drones that were targeting commercial ships in the Strait of Hormuz. The incident comes as a possible U.S.-Iran deal remains under discussion, underscoring how fragile the regional security environment remains even amid diplomacy. Any sustained threat to shipping through Hormuz would carry immediate consequences for naval operations, global trade and energy markets.

Russia Building New Infrastructure For Major Troop Deployments Along NATO's Northern Flank

The War Zone reports Russia is constructing new facilities near Finland that could eventually support tens of thousands of troops, even as NATO activates a new battalion battlegroup for Finland and Sweden. The buildup reflects the growing strategic importance of the Arctic and the alliance's concern that Moscow could later shift forces north and west after the war in Ukraine. For NATO planners, the activity strengthens the case for more persistent deterrence along the Nordic and Baltic front.