Shares of Intuitive Machines (LUNR) soared 6.83% on Wednesday, following the announcement that NASA had selected the company to provide payload flight and integration services for its Near Space Network project.

NASA awarded contracts to Intuitive Machines and Kongsberg Satellite Services AS to support the development of a new constellation of satellites that will enable communications and navigation services in near-space orbits. The Near Space Network aims to establish a sustainable commercial space-based relay system to transfer data, voice, and telemetry from science missions and spacecraft.

This major contract win is seen as a significant boost for Intuitive Machines' prospects in the growing commercial space industry. Investors are bullish on the company's future, as the Near Space Network project aligns with the increasing demand for space-based communications and navigation capabilities.