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Barchart
Barchart
Pathikrit Bose

Planet Labs’s Satellite Was Just Launched into Orbit. What This Means for PL Stock.

Planet Labs PL Planet Google Earth NASA

Geospatial data company Planet Labs (PL) has confirmed that its prototype satellite built for Alphabet's (GOOGL)(GOOG) Google has been launched into orbit. Part of Google's Project Suncatcher, 19 other satellites were launched aboard SpaceX’s (SPCX) Transporter-18 rideshare mission. Project Suncatcher is Google's endeavor to test its Tensor Processing Units, or TPUs, in space. Overall, the launch was Planet Labs' 40th successful one, bringing the total number of satellites it has built and delivered into orbit to 718.

Shares of Planet Labs jumped on the news by 8.43% in Friday's trading session.

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