Kim Hyun-tae

Planet Labs (PL) operates 200+ imaging satellites and has transitioned from selling raw images to deploying NVIDIA GPUs on satellites for AI processing in orbit. This shift to edge computing in space (a distributed space data center model) is a long-term growth driver. While not immediately profitable, the gradual adoption of in-space AI analytics makes Planet Labs a compelling long-term bet in the space data value chain.

Echostar (SATS) is a proxy for SpaceX because its largest asset is a SpaceX stake acquired through a spectrum deal. When SpaceX's valuation surged (from ~$212/share pre-split to ~$530 post-xAI merger), Echostar's stock rose 6x. After SpaceX listing, Echostar will track SpaceX's stock price. It can serve as an 'insurance' or option-like investment ahead of the IPO, especially if index-driven overvaluation occurs.

Space ETFs provide diversified exposure to the entire space value chain, reducing single-stock risk. As SpaceX listing draws mainstream attention, capital inflows into the space sector will increase, benefiting all players. ETFs allow passive participation without needing to pick winners, especially as new companies constantly emerge. Active ETFs can add SpaceX on listing day, while passive ETFs follow index rules.

Rocket Lab (RKLB) has delivered 40%+ annual revenue growth, 63% YoY in the latest quarter. Its backlog-to-revenue ratio exceeds 3x, meaning three years of orders are already secured. The company continuously raises capital for growth (recent rights offering quickly recovered), indicating strong investor confidence in its expansion trajectory. This is a high-growth space launch and services player worthy of investment.