272: Space, The Final Investing Frontier - How AI and Technology Are Expanding the Economy

The space economy is becoming more connected to everyday economic activity, from satellite communications and navigation to weather forecasting, defense and data. Falling launch costs, advances in satellite technology and rising demand for AI infrastructure are broadening the conversation around what space could enable.In this episode of The Bid, host Oscar Pulido speaks with Reid Menge, portfolio manager in BlackRock’s Fundamental Equity Group, about how the space economy is developing and the forces behind its growing relevance. They explore lower launch costs, satellite capabilities, national security priorities, AI infrastructure and the potential evolution of data centers.The discussion also looks beyond rockets and satellites to the broader infrastructure and capital markets ecosystem supporting space activity. Reid explains why cost and capability remain critical variables, how government spending can intersect with private-sector innovation, and why technical execution remains an important source of uncertainty as the industry develops.Episode chapters00:00 Introduction to Space Economy02:02 Space in Daily Life02:37 Space Investing Goes Mainstream04:40 Cost Capability Demand09:22 AI Meets Orbit11:18 Space Data Centers Explained14:39 National Security Imperative16:20 Where Opportunities Emerge18:29 Risks and Reality Check20:32 Next Decade Outlook22:28 Wrap Up and DisclosuresKey Insights from this episode:·      How falling launch costs could expand the range of economically viable space activities.·      Why smaller, lower-cost satellites are changing communications and Earth observation.·      How AI is increasing the potential value of data collected from space.·      Where national security priorities intersect with commercial space infrastructure.·      Why semiconductors, communications equipment and specialty materials form part of the space ecosystem.·      How execution risk and technological complexity could influence the industry’s development.🔗 Watch and Subscribe to The Bid on YouTube: https://1blk.co/48iHOs4 🔗 Follow Us on LinkedIn: https://1blk.co/3v09q6Q 🔗 Follow Us on Twitter (or X): https://1blk.co/3NuiIOW 🔗 Learn More About BlackRock: https://1blk.co/41uwhDS Sources: GPS.gov data 2026; “How geostationary small satellites are providing strategic access to space”, WEF 2025; “Big ideas, small satellites”, NASA Jet Propulsion Laboratory; “State-of-the-Art Small Spacecraft Technology” NASA report May, 2026; Department of War Budget