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Intuitive Machines’ Stock Drops After Second Sideways Moon Landing

Intuitive Machines’ stock took a sharp 23% dive on Friday after confirming that its second moon lander, Athena, had landed on its side, much like the company’s first lunar attempt last year. The six-legged Athena lander had touched down approximately 100 miles (160 km) from the moon’s south pole, but the mission was declared a failure due to the spacecraft’s tilted position. The company cited the challenges of the lander’s orientation, the impact of the sun’s direction on the solar panels, and the extremely cold temperatures in the crater, which prevented the craft from recharging.

As a result, Intuitive Machines’ stock experienced its most significant drop in over a year. Shares had already fallen 20% the previous day, but the company had seen a considerable rise in value over the past 12 months prior to this setback.

Athena was carrying 11 scientific payloads, including tools for water ice exploration, lunar soil analysis, and the first data center and cellular network on the moon. Despite the failure, the company remains involved in NASA’s plans to reduce the cost of lunar exploration, with Intuitive Machines among the private companies leading the U.S. return to the moon.

Meanwhile, SpaceX’s Starship rocket also faced a setback, exploding minutes after its launch on Thursday. Despite these challenges, industry analysts believe that Intuitive Machines, though impacted by the recent failure, is still well-positioned to capitalize on the growing space exploration industry.

Andres Sheppard, senior analyst at Cantor Fitzgerald, remarked that while the sideways landing might affect the company’s credibility, it doesn’t signal a dire situation for Intuitive Machines. “We still think they are one of the better-positioned companies in the space exploration industry.”

Starlink Seeks More Spectrum Access in Italy Amid EU Coordination Delay

Starlink, Elon Musk’s space-based internet service, is pushing for access to additional spectrum in Italy to expand its satellite broadband capabilities. The company, which has been operating in Italy since 2021, submitted an application two years ago for access to the E-band spectrum, which would improve communications between its three Italian ground stations and its satellite network. This request has not been previously disclosed.

The E-band frequencies Starlink is targeting—71.0-76.0 GHz and 81.0-86.0 GHz—are already available to the company in the United States. If granted in Italy, this additional access would significantly boost Starlink’s ability to serve more customers, especially as the company seeks to strengthen its first-mover advantage in the low-orbit satellite broadband sector.

Italy’s Industry Junior Minister, Massimo Bitonci, stated that the country is adopting a cautious approach, waiting for the European Union to coordinate a unified stance on E-band spectrum usage. The E-band is jointly managed by Italy’s Ministry of Industry and the Ministry of Defense, with some frequencies requiring defense approval. However, no decision has been made yet regarding Starlink’s request.

In addition to spectrum concerns, Starlink is contemplating expanding its network by adding a new ground station in northern Italy, where demand has exceeded expectations. Conversely, it may reduce its presence in southern Italy, where demand has been lower than anticipated.

Starlink has approximately 55,000 customers in Italy, a figure that highlights the growing demand for its service in the country, where internet access in remote regions remains a challenge.

Musk’s Starlink Denies Intent to Take Over FAA Air Traffic Contract

SpaceX, the rocket company owned by Elon Musk, has denied media reports suggesting that its Starlink satellite unit intends to take over any Federal Aviation Administration (FAA) telecommunications contract. On Wednesday, SpaceX clarified that Starlink’s role is to potentially serve as a partial solution to the FAA’s aging system.

“Starlink is a possible partial fix to an aging system. There is no effort or intent for Starlink to ‘take over’ any existing contract,” SpaceX stated on X (formerly Twitter). The company further explained that it is working alongside L3Harris Technologies and the FAA to explore how Starlink could enhance aviation safety by upgrading infrastructure.

The FAA confirmed it is testing Starlink systems at various sites as part of a broader effort to modernize the U.S. air traffic control infrastructure, which has been deemed outdated. The Government Accountability Office (GAO) has warned that about one-third of the FAA’s air traffic control systems are unsustainable and in need of urgent replacement.

The FAA emphasized that it is testing Starlink and other technologies through its Telecommunications Infrastructure program, managed under a contract with L3Harris. While reports have suggested that Starlink could potentially replace Verizon’s existing $2.4 billion contract, the FAA has stated that no decision on the contract’s future has been made yet.

The testing of Starlink at FAA facilities, including those in Alaska, Oklahoma City, and Atlantic City, is part of efforts to improve communication systems and restore reliable access to weather information for pilots.

Transportation Secretary Sean Duffy also highlighted that while Starlink could be a part of the solution, it is not the sole answer to the FAA’s modernization needs.