Rocket Lab Corporation (NASDAQ:RKLB) surged 17.69% on Friday after securing a potential billion-dollar contract with the US Space Development Agency. The contract includes an $806 million base contract, $10.45 million in options, and opportunities for supply of other items. Rocket Lab will manufacture 18 satellites with advanced missile detection and defense sensors under the contract.

Each satellite will have Phoenix infrared sensor payloads and StarLite space protection sensors. The contract is part of the Tracking Layer Tranche 3 program under the Proliferated Warfighter Space Architecture. Rocket Lab CEO Peter Beck expressed the company’s ability to meet national security needs. Investors are advised to consider AI stocks with potential for higher returns and limited downside risk.

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Read more at Yahoo Finance: Rocket Lab (RKLB) Soars 17.7% on Potential Billion-Dollar Contract with US SDA