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Rocket Lab Shares Surge on CHIPS Act Funding and Neutron Rocket Progress
Rocket Lab Shares Surge on CHIPS Act Funding and Neutron Rocket Progress
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BTCCSquare news:
Rocket Lab's stock soared 11% following a dual catalyst announcement. The space technology firm secured a $23.9 million award under the CHIPS and Science Act to expand semiconductor production for space-grade components, addressing critical supply chain needs for national security missions.
Investor confidence strengthened further with Thursday's planned opening of the Neutron rocket launch complex in Virginia. This development counters recent skepticism from Bleecker Street Capital, which had projected delays in the medium-lift reusable rocket's timeline. Rocket Lab maintains its mid-2025 target for Neutron's maiden flight, a timeline reaffirmed during their Q2 earnings call.
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