Yesterday we launched our first-ever live show from the New York Stock Exchange (NYSE) called “The Space & Defense Market Update.” We brought together investors and analysts operating at every stage of the capital stack to stress-test what's real and what’s priced in.

Capital markets are moving faster than anyone has clean answers for. Data centers in space are attracting serious money and serious skepticism in equal measure. Public market valuations are demanding a level of conviction that leaves little room for error. And NASA just rewrote its lunar roadmap while an astronaut crew prepares to fly around the Moon for the first time in fifty years. Our guests this month are:

Mike Annunziata, Founder & Managing Partner of Also Capital
Mark Danchak, Co-Founder & General Partner of General Innovation Capital Partners
Mariana Perez Mora, Director, Bank of America Equity Research

We get into:

Why data centers in space will be willed into existence
What early-stage investors can see in space and defense founders that later-stage capital only appreciates once it's obvious
How public markets are actually pricing space and defense right now
The Palantir valuation framework: what you have to believe, and whether those beliefs hold
NASA's new lunar roadmap: Moon base over Gateway, crewed missions twice a year, and what it means for the commercial players already in the queue
Why Artemis II launching tomorrow is a bigger deal than most people are treating it

• Show notes •

Mo's socials — https://x.com/itsmoislam
Jack’s socials — https://x.com/JackKuhr
Payload’s socials — https://twitter.com/payloadspace / https://www.linkedin.com/company/payloadspace
Ignition’s socials — https://twitter.com/ignitionnuclear /
https://www.linkedin.com/company/ignition-nuclear/
Tectonic’s socials — https://twitter.com/tectonicdefense / https://www.linkedin.com/company/tectonicdefense

ARKAEA x NYSE Space & Defense March Update

Valley of Depth