$SPCX / $NVDA: SpaceX is building its own Nvidia rack, codenamed Kessel. SemiAnalysis says it keeps the 72 Rubin GPU packages of Nvidia's Vera Rubin NVL72 but swaps the internal NVLink cables for an 84-layer PCB midplane, designed for both Earth and orbital data centers. SpaceX would buy the chip packages from Nvidia and source the rest itself, bypassing Nvidia's L6 compute boards.

$SPCX If Anthropic leaves, SpaceX gets scarce compute back, and that's the part the bears are missing. On the Q3 call, Musk said short-term compute contracts are renewing at higher dollars per watt and SpaceX could rent its compute "several times over" if it said yes to everyone. The CFO added that new deals are pricing slightly above the high end of the $30 to $50 per watt range. Demand is there. Google already pays SpaceX about $920M a month, hyperscalers and dozens of smaller firms are asking for capacity, and Grok and Cursor can absorb whatever comes back. Musk's stated goal is roughly a 50/50 split between internal use and renting to others. Pricing is also moving SpaceX's way. GPU rental rates rose about 7% in November, and Anthropic's own S-1 says its short-term compute costs significantly more than its multi-year deals. The 90-day exit cuts both ways. Anthropic can walk once the non-cancelable periods end in January and March 2027, but so can SpaceX, and SpaceX is the one holding the scarce asset.

$RKLB Rocket Lab's laser terminals are now derisked. Mynaric's CONDOR Mk3 terminal just completed a bidirectional optical link from space to the ground, sending files both up to orbit and down to Earth. It flew on SES's meoSphere Pathfinder 1 mission aboard a K2 Space Mega-class satellite and connected to a Cailabs ground station. This matters for Rocket Lab. Optical terminals are a key part of its SDA constellation satellites, and Mynaric is the in-house supplier it bought to vertically integrate them. After years of CONDOR delays, a flight-proven link with SES as a customer outside Rocket Lab is a massive step.

A major milestone years in the making - a successful bidirectional space-to-ground data transfer achieved with our CONDOR terminal. Validation of the technology, vision, perseverance, and expertise of the team at Mynaric. Read more:

Our spacecraft just made interplanetary history - twice. Blue & Gold flawlessly executed powered Earth gravity assists, two days apart, to slingshot our planet and shoot for Mars' orbit. This is the first time the highly complex maneuver has been executed successfully by spacecraft. ESCAPADE has proven a new path is possible to make it to Mars outside the typical Earth-to-Mars launch window that occurs every 26 months. Next ESCAPADE mission milestone: Mars Orbit Insertion, September 2027.

$RDW: Redwire today announced it received a Q3 FY2026 follow on order from the 1st Aviation Brigade, U.S. Army Aviation Center of Excellence (AVCOE), for the sustainment and support of AVCOE’s fleet of combat proven Stalker Uncrewed Aircraft System (UAS) as the Army continues to modernize its UAS for mission success in contested airspace and in support of multi-domain operations.

Blue and Gold are on their way to Mars! The twin spacecraft, designed and built by Rocket Lab, for @NASA and @ucbssl's ESCAPADE mission, completed powered Earth gravity assists to each perfectly execute a trans-Mars Injection. Both spacecraft fired their main engine for 9.5 minutes, hurtling past Earth at more than 10 kilometers per second, to enter an interplanetary cruise phase. They are due to arrive at the Red Planet in September 2027 to study the Martian atmosphere.

$VELO: Velo3D just reported Q3 revenue of $20.5M vs $19.3M expected, but pushed positive EBITDA out to 2028. • Revenue: $20.5M, +50% YoY
• New bookings: $28.9M, backlog $40.1M
• Gross margin: 26.5% vs 3.2% a year ago
• Non-GAAP EPS: -$0.34 vs -$0.26 expected
• Adj. EBITDA loss: $9.8M
• Cash: $75.7M, debt down to $7.4M
• FY26 revenue guide reaffirmed at $65M to $75M
• Positive EBITDA now expected in 2028, from the second half of 2026
• FY26 capex cut to $10M to $20M from $40M to $50M, with spending shifting into 2027 The prior target of more than 30% gross margin for the second half is gone. Velo3D now only guides to sequential improvement in Q4. Management also said it no longer sees substantial doubt about continuing as a going concern. "Forge 1 is central to Velo3D's next phase of growth." Arun Jeldi, CEO

$LPTH: LightPath just reported record backlog of $132.9M, up 54% YoY. • Revenue: $20.8M vs $21.9M expected, +38% YoY
• Gross margin: 41.4% vs 29.8% a year ago
• Adj. EBITDA: $1.3M, fifth straight positive quarter
• Net loss: $1.7M, or $0.02 per share, vs $0.03 expected
• Cash: $82.9M $110.8M of the backlog is requested for delivery within 12 months. Since July, LightPath has booked more than $30M of follow-on counter-drone orders, plus an October order for over 50,000 optical assemblies for drone cameras. The Department of War also awarded a funded BlackDiamond prototype agreement under its CLEAR program for germanium alternatives, and the China subsidiary sale closed Oct 30.

$SPIR: Spire just reported Q3 revenue of $18.0M vs $20.6M expected, and narrowed its 2026 revenue guide to $75M to $80M from $75M to $85M • Revenue: $18.0M, +42% YoY (+77% excluding maritime) • Adj. EBITDA loss: $8.6M vs $11.8M a year ago • Gross margin: 46% vs 37% a year ago • Remaining performance obligations: $175.4M • Cash used in operations: $5.0M vs $23.4M in Q2 • Cash and marketable securities: $78.0M, no debt • FY26 adj. EBITDA guide: -$32.4M to -$27.4M, vs -$26.0M to -$20.7M in August • First 2027 revenue guide: $96M to $106M Spire won a $33.2M NOAA task order and a $28M NOAA hyperspectral microwave sounding contract in the quarter, and launched its first three satellites built at its Boulder facility.

$FLY: Firefly just reported Q3 revenue of $110.7M vs $102.3M consensus, up 259% YoY. • Revenue: $110.7M vs $102.3M expected • Non-GAAP EPS: -$0.45 vs -$0.53 expected • Adj. EBITDA loss: $69.5M • Record backlog: $1.7B, up from $1.5B in Q2 • FY26 revenue guide raised to $440M-$450M from $420M-$450M • Cash + short-term investments: $534.7M Recent wins include the $1.3B AST SpaceMobile deal for Miranda engines, IP license and engineering, a Synspective deal for up to 10 Alpha launches through 2030, and a vendor spot on NASA's $10B CLPS 2. Miranda engine qualification has begun with 170+ hot fires so far. "With five Moon missions running in parallel, Alpha Block II moving toward launch, SciTec executing on critical national security programs, and our strategic deal with AST SpaceMobile, we are converting our pipeline and backlog into results." Jason Kim, CEO

$SPCX: The FCC just accepted SpaceX's application to buy 800 MHz spectrum from Grain Management, covering 546 paired licenses. It's a fresh regulatory step that pushes Starlink Mobile closer to being a real US carrier.

We have signed a major supply contract with SINGULUS to create a durable option for advanced solar cell manufacturing to support more than 100 GW of equipment as we accelerate the production of our Starmind satellites in Bastrop, Texas →