Schwab Network Space Tech Race Evolves: Artemis II Offers Next Step for AI Innovation
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Apr 10, 2026 Yuri Kodhjamirian, Chief Investment Officer of TEMA ETFs overseeing the Space Innovators ETF (NASA), is a space-economy investor. He discusses how plunging launch costs and tech advances open markets like orbital data centers, manufacturing, and broadband. He contrasts legacy government procurement with commercial scaleups and explains how the NASA ETF offers exposure to private players such as SpaceX.
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Falling Launch Costs Unlock Commercial Space
- Launch costs have fallen ~90% for sending a kilo to low Earth orbit over 15 years, driven largely by SpaceX.
- Yuri Kodhjamirian says that cost decline unlocks data centers, manufacturing, and ubiquitous broadband as scalable commercial opportunities.
Commercial Mindset Rewrote Space Economics
- A commercial mentality — fast iteration, accepting failures, and high production — transformed space from slow, government-only projects to scalable industry.
- Yuri credits SpaceX with spreading that mentality and lowering risk by enabling thousands of satellites instead of single $600M geostationary launches.
Two Speed Government Space Market
- The government/civil space sector now splits into legacy slow suppliers and an emerging commercial track that sometimes combine on missions.
- Yuri highlights Artemis II as a hybrid: Boeing's legacy role alongside commercial providers participating in the mission.