Beyond the SpaceX IPO: 3 High-Growth AI Space Stocks for Long-Term Investors

Key Points

• SpaceX is preparing to go public on June 12, though it carries a premium valuation.
• Planet Labs, BlackSky, and Redwire offer compelling alternatives for exposure to space and AI technology.
• Investment options range from Earth-imaging specialists to space infrastructure manufacturers.

The highly anticipated SpaceX IPO is nearly here. The aerospace giant is slated to go public on June 12, with an expected share price of $135 and a valuation of $1.77 trillion. The company will trade under the ticker symbol SPCX on the Nasdaq Global Markets exchange.

With 2025 revenues reaching $18.7 billion, SpaceX’s valuation has become a point of contention, as its debut price represents approximately 95 times its sales. This stands in stark contrast to Morningstar’s recent valuation of $780 billion—less than half of the IPO target.

For investors seeking exposure to the intersection of space exploration and artificial intelligence without the steep entry price of SpaceX, there are several viable alternatives trading at more modest valuations.

Image source: Getty Images.

1. Planet Labs

Founded by former NASA scientists, Planet Labs (NYSE: PL) focuses on the ambitious goal of imaging the entire Earth’s landmass daily. Operating a fleet of over 200 satellites, the company provides critical observation data to sectors including finance, defense, and agriculture.

AI is the engine behind the company’s analytics layer, transforming raw satellite imagery into structured, actionable data. Planet Analytics can identify aircraft, vessels, roads, and buildings, and track new construction in real-time. For instance, agricultural partners utilize this data to optimize irrigation and fertilizer application for better crop yields.

In its first-quarter earnings for the 2027 fiscal year (ending April 30, 2026), Planet Labs reported a 42% year-over-year revenue increase to a record $94.2 million. Furthermore, its backlog grew by 72% to over $906 million, signaling robust demand. While the company has yet to achieve profitability and trades at 32 times trailing sales, its valuation remains significantly lower than that of SpaceX.

2. BlackSky

BlackSky (NYSE: BKSY) offers a more specialized approach to Earth observation, focusing primarily on global security, intelligence, and defense. Its primary client base includes NASA, the U.S. National Reconnaissance Office, and the U.S. Department of Defense.

BlackSky differentiates itself through speed and precision. Its Gen-3 satellites provide a 35-centimeter resolution, allowing for the identification of much smaller objects than the 200-to-300-centimeter resolution provided by Planet Labs. Utilizing the AI-driven BlackSky Spectra platform, the company can deliver intelligence in as little as 60 minutes—a critical capability for battle-damage assessments and tactical targeting.

This demand for real-time, AI-powered intelligence is driving growth. In Q1 2026, BlackSky secured up to $160 million in new contracts and reported $20.8 million in revenue, with 45% of sales derived from U.S. federal agencies. With a backlog of $351.6 million and a valuation of 12 times trailing sales, BlackSky offers a more conservative entry point for investors.

3. Redwire

Redwire (NYSE: RDW) focuses on the “picks and shovels” of the industry, manufacturing essential space infrastructure including guidance systems, power systems, cameras, antennas, and spacecraft. The company also develops defense technology and drones.

Redwire integrates AI across its operations, most notably through Acorn 2.0, a modeling and simulation software platform. This tool uses agent-based modeling to simulate complex aerospace and defense systems. One of its early adopters, DeepSat, utilizes Acorn 2.0 to optimize satellite constellation layouts.

The company’s growth is evident in its Q1 2026 results, where revenue surged 58% year-over-year to $97 million. Gross margins also improved significantly, rising to 26.6% from 14.7% the previous year, while the company reported a record backlog of $498.1 million.

Despite this growth, Redwire remains unprofitable, reporting a first-quarter loss of $0.40 per share. Much of this loss is attributed to equity-based compensation rather than operational failure, but it highlights the inherent risk of the investment. However, at 7 times trailing sales, Redwire is the most affordably valued stock on this list.

While the SpaceX IPO is capturing the public’s attention, the broader space sector offers diverse opportunities. Investors should remember that space technology is still in its early stages, meaning higher volatility and risk. Diversification and careful position sizing are recommended when investing in this frontier.

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