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Benzinga
Benzinga
Business
Surbhi Jain

Rocket Lab Blasts Off With CHIPS Act Grant: Can SpaceX's Rival Ride The Momentum?

Rocket Lab SpaceX NASA United States

Rocket Lab USA Inc. (NASDAQ:RKLB) is soaring, both figuratively and literally. The SpaceX rival's stock jumped over 8% on Tuesday after securing a $23.9 million CHIPS Act grant to enhance its semiconductor operations in New Mexico.

This move not only boosts its production capabilities but solidifies its position in the burgeoning space economy.

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