Forget AI Bubble. A New One Emerges As Space Firms Prepare For IPO Launchpad
The world's first commercial spaceplane entered the final testing phase ahead of its first flight in 2024 in December. Now, the company behind the orbital-class spaceplane, Sierra Space Corp., is laying the groundwork for an initial public offering and possible acquisitions.
On Thursday, Sierra Space Chief Executive Officer Tom Vice spoke with Bloomberg about Sierra's plans to tap public markets. Vice said IPO timing is uncertain but will take the leap "when the market looks like it'll give us the right credit for valuation."
"We want access to the public markets," the exec said, adding, "We've been working for a year and a half to make sure that we are public company ready."
When Powell starts cutting interest rates?
Vice also said "inorganic add-ons" and "consolidation activity" - this is fancy CEO speak for mergers and acquisitions.
Vice's comments were ahead of a media event yesterday at NASA's facility in Sandusky, Ohio. The space agency revealed Sierra's Dream Chaser to the public, indicating it could resupply cargo to the International Space Station.
At the event, Vice said, "The most significant industrial revolution is underway in space."
He continued: "The signs are all around us that we're now living in the orbital age."
Tenacity & Shooting Star, @SierraSpaceCo’s new cargo carrying spaceplane planned for launch in 2024.
— Brady Kenniston (@TheFavoritist) February 1, 2024
Learn more from NSF at: https://t.co/Lsj4FaPVaE
Photos for @NASASpaceflight pic.twitter.com/0TbkIJM7Dk
Separately, a recent Bloomberg report indicated Elon Musk's SpaceX company might spin off Starlink for an IPO later this year.
So, forget the AI bubble. There's a new one emerging: space.