Historic mission from Houston space tech company plans for splashdown

earthbound

Ax-1 is headed back to Earth after 12 days of research on the ISS. Photo courtesy of SpaceX

Editor's note: Undocking was delayed again on April 19, and a new timeline has not been announced. The original story is below.

After spending 12 days in space, a historic commercial space mission will splash back down on Earth this week.

Houston-based Axiom Space’s first mission Axiom mission 1 (Ax-1), which took off April 8 and connected to the International Space Station, has announced its plans for undocking and splashdown.

After some initial bad weather postponed the process, the four-member private astronaut crew now is aiming to undock at about 9 pm tonight, April 19, and then land off the coast of Florida at around 2:24 pm tomorrow, April 20. Just like launch, the coverage of both events will be available at Axiom's website.

The mission on SpaceX’s spacecraft sent four multinational private astronauts — Commander Michael López-Alegría, Pilot Larry Connor, Mission Specialist Eytan Stibbe, and Mission Specialist Mark Pathy — to the ISS to conduct research and familiarize Axiom with launch, docking, and more.

Axiom Space, which reached $1 billion valuation and joined the Houston unicorn club last year after a $130 million investment round, is working on the first commercial space station to replace the ISS. The first launch of that mission is expected in late 2024. In the meantime, Axiom has a series of commercial launches to the existing station currently in orbit in order to prepare for development and orchestration of Axiom Station.

The Ax-1 mission, which has provided daily updates, has conducted over 20 research projects and even hit a few milestones, including:

  • The first-ever music duet performance in space — Commander López-Alegría and Neo-Classical Piano Prodigy BLKBOK made music and space history with their piano and keyboard duet
  • The Aging and Heart Health investigation, an experiment from the Mayo Clinic — a study that analyzes human cells for genetic markers of cellular aging and explores cardiac-like cells' adaptation to microgravity
  • Observation of Transient Luminous Events — Specialist Stibbe completed a space observation experiment and photographed a lightning storm over Darwin, Australia, to enhance understanding of the electrical processes in the atmosphere and to determine whether there’s a connection with climate change
  • Testing of the Holoportation system — Mission Specialist Pathy set up two-way AI technology that will allow the ability of future crew members to explore deep space with the ability to virtually bring friends, family, and physicians close with them so that they can get an on-Earth experience
  • Several outreach calls to Earth to STEM students from around the world — this included a call to children at Space Center Houston

Axiom shares more details on its mission research projects — which span technologies such as future space habitats, cancer research, and devices to purify air on space stations — online.

“As the first step on a path to building a diverse, thriving economy in low-Earth orbit, Axiom has partnered with leaders in academia and industry to bring new users and new investigations in research to the space station,” says Christian Maender, director of In-space Manufacturing and Research for Axiom Space, in a news release. “The collection of biological and technological tests during the Ax-1 mission represent a breadth of research that will inform everything from human health considerations to novel infrastructure and design for our future homes away from Earth, beginning with Axiom Station.”

The four-person crew spent 12 days on the ISS. Photo courtesy of NASA

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Tesla recalling more than 375,000 vehicles due to power steering issue

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Tesla is recalling more than 375,000 vehicles due to a power steering issue.

The recall is for certain 2023 Model 3 and Model Y vehicles operating software prior to 2023.38.4, according to the National Highway Traffic Safety Administration.

The printed circuit board for the electronic power steering assist may become overstressed, causing a loss of power steering assist when the vehicle reaches a stop and then accelerates again, the agency said.

The loss of power could required more effort to control the car by drivers, particularly at low speeds, increasing the risk of a crash.

Tesla isn't aware of any crashes, injuries, or deaths related to the condition.

The electric vehicle maker headed by Elon Musk has released a free software update to address the issue.

Letters are expected to be sent to vehicle owners on March 25. Owners may contact Tesla customer service at 1-877-798-3752 or the NHTSA at 1-888-327-4236.

Houston space tech companies land $25 million from Texas commission

Out Of This World

Two Houston aerospace companies have collectively received $25 million in grants from the Texas Space Commission.

Starlab Space picked up a $15 million grant, and Intuitive Machines gained a $10 million grant, according to a Space Commission news release.

Starlab Space says the money will help it develop the Systems Integration Lab in Webster, which will feature two components — the main lab and a software verification facility. The integration lab will aid creation of Starlab’s commercial space station.

“To ensure the success of our future space missions, we are starting with state-of-the-art testing facilities that will include the closest approximation to the flight environment as possible and allow us to verify requirements and validate the design of the Starlab space station,” Starlab CEO Tim Kopra said in a news release.

Starlab’s grant comes on top of a $217.5 million award from NASA to help eventually transition activity from the soon-to-be-retired International Space Station to new commercial destinations.

Intuitive Machines is a space exploration, infrastructure and services company. Among its projects are a lunar lander designed to land on the moon and a lunar rover designed for astronauts to travel on the moon’s surface.

The grants come from the Space Commission’s Space Exploration and Aeronautics Research Fund, which recently awarded $47.7 million to Texas companies.

Other recipients were:

  • Cedar Park-based Firefly Aerospace, which received $8.2 million
  • Brownsville-based Space Exploration Technologies (SpaceX), which received $7.5 million
  • Van Horn-based Blue Origin, which received $7 million

Gwen Griffin, chair of the commission, says the grants “will support Texas companies as we grow commercial, military, and civil aerospace activity across the state.”

State lawmakers established the commission in 2023, along with the Texas Aerospace Research & Space Economy Consortium, to bolster the state’s space industry.

Houston experts: Can AI bridge the gap between tech ambitions and market realities?

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Despite successful IPOs from the likes of Ibotta, Reddit and OneStream, 2024 hasn’t provided the influx of capital-raising opportunities that many late-stage tech startups and venture capitalists (VCs) have been waiting for. Since highs last seen in 2021—when 90 tech companies went public—the IPO market has been effectively frozen, with just five tech IPOs between January and September 2024.

As a result, limited partners have not been able to replenish investments and redeploy capital. This shifting investment landscape has VCs and tech leaders feeling stuck in a holding pattern. Tech leaders are hesitant to enter the public markets because valuations are down 30 percent to 40 percent from 2021, which is also making late-stage fundraising more challenging. After all, longer IPO timelines mean fewer exit opportunities for VCs and reduced capital from institutional investors who are turning toward shorter-term investments with more liquid exit options.

Of course, there’s always an exception. And in the case of a slowed IPO market, a select slice of tech companies—AI-related companies—are far outperforming others. While not every tech startup has AI software or infrastructure as their core offering, most can benefit from using AI to revise their playbook and become more attractive to investors.

Unlocking Growth Potential with AI

While overall tech startup investment has slowed, the AI sector burns bright. This presents an opportunity for companies that strategically leverage AI, not just as a buzzword but as a tool for genuine growth and differentiation. Imagine a future where AI-powered insights unlock unprecedented efficiency, customer engagement and a paradigm shift in value creation. This isn’t just about weathering the current storm of reduced access to capital; it’s about emerging stronger, ready to lead the next wave of tech innovation.

Here's how to navigate the AI frontier and unlock its potential:

  1. Understand that data is the foundation of AI success. AI is powerful, but it’s not magic. It thrives on high-quality, interconnected data. Before diving into AI initiatives, companies must assess their data health. Is it structured in a way that AI can understand? Does it go beyond raw numbers to capture context and meaning—like customer sentiment alongside sales figures? Rethinking data infrastructure is often the crucial first step.
  1. Focus on amplifying strengths, not reinventing the wheel. The allure of AI can tempt companies into pursuing radical reinvention. However, a more effective strategy is to leverage AI to enhance existing strengths and address core customer needs. Why do customers choose your company? How can AI supercharge your value proposition? Consider Reddit’s strategic approach: They didn’t overhaul their platform before their 2024 IPO. Instead, they showcased the value of their vast online communities as fertile ground for AI development, leading to a remarkable first-day stock surge of 48 percent.

  2. Use AI as a customer-centric force multiplier. Companies with a deep understanding of their customer base are primed for AI success. By integrating AI into the very core of their product or service—the reason customers choose them—they can create a decisive competitive advantage based on delivering tangible customer value.

From Incremental Gains to Transformative Growth

This practical, customer-centric approach has the potential to help companies generate immediate growth while laying the foundation for future reinvention. By leveraging AI to optimize operations, deepen customer relationships, and redefine industry paradigms, late-state tech startups can not only survive but thrive in a dynamic market. The future belongs to those who embrace AI not as a destination but as a continuous journey of innovation and growth.

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Hong Ogle is the president of Bank of America Houston. Rodrigo Ortiz Gomez is a market executive in Bank of America’s Transformative Technology Banking Group as well as the national software banking lead for the Global Commercial Bank.

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