Rocket Lab Acquires Iridium in $8 Billion Space Industry Deal

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Rocket Lab is buying Iridium Communications for roughly $8 billion in a mix of cash and Rocket Lab stock, a deal that pairs one of the more ambitious small-launch companies in the business with a satellite network that has been quietly humming along in low-Earth orbit for decades. Iridium operates 80 satellites and has turned a steady profit providing telecommunications services to customers who need connectivity where fiber and cell towers simply don't reach. Rocket Lab founder and CEO Peter Beck called it "one of the most transformative deals in the space industry" and "the ultimate combination for growth." The acquisition is a notable bet that launch capability and satellite operations belong under the same roof, a vertical integration logic that SpaceX proved out years ago with Starlink. Elsewhere in the hardware world, OpenAI is teasing a physical device tied to its AI coding tool Codex, set to be revealed July 15th. The square-shaped gadget, built in partnership with mechanical keyboard and macro-pad maker Work Louder, appears designed to give developers programmable shortcuts for Codex workflows. It is a separate product entirely from the rumored AI device OpenAI is developing with former Apple designer Jony Ive. Meanwhile, phone case maker Dbrand is refunding everyone who preordered its Portal-themed Companion Cube enclosure for the Steam Machine, after Valve reached out to point out that Dbrand had launched the product without a license. The Companion Cube had become Dbrand's second-fastest selling product in its 15-year history before the preorders were quietly pulled.