BlackSky Technology Inc (NYSE:BKSY) shares are soaring on Wednesday amid reports that SpaceX has confidentially filed for an IPO, as well as renewed attention on NASA's upcoming Artemis II lunar mission.

Artemis II Hype Lifts Space Sector

The entire space sector is catching a wave of enthusiasm as NASA's Artemis II mission draws renewed attention. Artemis II, scheduled to launch on Wednesday, will send astronauts on a 10‑day crewed flyby around the moon — the first human mission to lunar space since Apollo 17 more than 50 years ago.

The mission serves as a full‑scale test ahead of Artemis III in 2028, when NASA plans to return humans to the lunar surface, and will also demonstrate optical communications between Orion and Earth through the Orion Artemis II Optical Communications System.

SpaceX IPO Buzz Adds Fuel To The Rally

Adding to the excitement, reports indicate that SpaceX has confidentially submitted a draft IPO filing to the SEC. The company is reportedly targeting a June listing with a valuation above $1.75 trillion, which would make it the largest IPO in history.

Major U.S. banks, including Bank of America, Goldman Sachs, JPMorgan and Morgan Stanley, are said to be leading the deal, with international banks such as RBC, Mizuho and Macquarie also involved. The news has triggered a broad rally across space‑related equities as investors anticipate a surge of attention and capital flowing into the sector.

BlackSky's Air Force Contract

BlackSky also secured an IDIQ award from the U.S. Air Force Research Laboratory this week, along with an initial $2 million task order to speed up development of a large‑aperture optical payload designed for advanced Earth‑observation and space‑domain awareness.

The work aims to push beyond BlackSky's current Gen‑2 and Gen‑3 systems, focusing on higher‑frequency imaging, multi‑orbit tracking, and satellites that can act as onboard data‑processing hubs with AI‑enabled communications.

CEO Brian O'Toole said the award validates the company's long‑term investment in next‑generation space architectures and fits directly into its constellation roadmap.

BKSY Price Action: BlackSky shares were up 11.49% at $28.05 at the time of publication on Wednesday, according to Benzinga Pro.

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