'Space AI' Frenzy... Satellite Stocks Surge 11 Times in a Year, Market Cap Increases by 3 Trillion Won Today

Planet Labs PBC (NYSE: PL) shares closed at $50.20 on the New York Stock Exchange, surging 13.19% and lifting the company’s market capitalization to about $16 billion (roughly KRW 22 trillion). In just one day, its valuation increased by approximately $2.5 billion (nearly KRW 3 trillion). Trading volume topped 9 million shares—well above average—indicating a mix of short-term profit-taking and aggressive follow-on buying.

During today’s session, the stock set a new intraday high at $46.96. Over the past 12 months, its price has climbed about 1,105%, prompting some analysts to warn that the current share price may already reflect a significant portion of its fair value, suggesting potential overheating. In its fiscal 2026 results announced in March, Planet Labs reported its first full-year non-GAAP profitability. In early May, the company secured a contract with the Swedish military to launch three additional high-resolution Pelican satellites, bolstering its growth momentum through defense and government agreements in Europe and with the Greek government.

Based in San Francisco, Planet Labs operates a fleet of hundreds of small Earth-observation satellites that image the entire planet daily. It sells that data to governments, militaries, and clients in agriculture, insurance, and finance. More recently, the company has combined AI-driven analysis with its satellite imagery and launched “sovereign satellite” services and a defense data platform for national governments. This strategic pivot is reshaping Planet Labs’ market perception—from a pure satellite operator to a critical strategic infrastructure provider.