NASA 的 Artemis 计划正被重组，但这更像是风险重排，而不是根本修复。美国最早可能于 2026 年 4 月 1 日在 Artemis II 上重返月球，这将是 50 多年来首次；然而，Jared Isaacman 于 2026 年 2 月 27 日把 Artemis III 改为 2027 年的地球轨道测试任务，与 1 至 2 艘原型月球登陆器对接，而实际登月被延后到 2028 年的 Artemis IV。这使登月时程至少延后 1 年，但也降低了原先把多个技术「首次」压缩进单次载人登月的风险。

NASA 也取消了 Boeing 为 Space Launch System 规划的 Exploration Upper Stage，改采 United Launch Alliance 的 Centaur V。虽然 Centaur V 使用与 SLS 相同的推进剂，能避免全面重做地面基础设施，但把它整合到 SLS 顶部仍然复杂，而且要在 2028 年前完成，时程非常紧。更大的数字压力来自发射节奏：原本 SLS 大约每 3 年发射 1 次，现在 NASA 要求 2027 年准备好 1 枚火箭给 Artemis III，并在 2028 年再准备 2 枚给 Artemis IV 和 V，等于在 2 年内完成 3 次任务。

这篇通讯也显示太空投资与国防需求仍在扩张。Sierra Space 筹得 5.5 亿美元；ERShares Private-Public Crossover ETF 自 2025 年 12 月 8 日以来吸引超过 4.7 亿美元，主要受其 SpaceX 部位推动。Voyager Technologies 在营收指引上调后股价上涨约 6%，其未完成订单达 2.66 亿美元，年增 33%。在基础设施时程上，International Space Station 原定于 2030 年底脱离轨道，但国会中的法案把日期再延后 2 年至 2032 年底；另有 Vast 新募资 5 亿美元，以及 Landspace 测试 220 吨（原文 220-ton）甲烷引擎。

NASA's Artemis program is being reorganized, but the change looks more like risk reallocation than a fundamental fix. The US could return to the moon on Artemis II as early as April 1, 2026, for the first time in more than 50 years; however, on February 27, 2026, Jared Isaacman shifted Artemis III into a 2027 Earth-orbit test mission that docks with one or two prototype moon landers, while the actual lunar landing moved to Artemis IV in 2028. That pushes the landing back by at least one year, but it also reduces the risk of compressing multiple technological firsts into a single crewed landing attempt.

NASA is also canceling Boeing's planned Exploration Upper Stage for the Space Launch System and replacing it with United Launch Alliance's Centaur V. Although Centaur V uses the same propellants as SLS, which avoids a full rebuild of ground infrastructure, integrating it onto the top of SLS is still complex, and finishing by 2028 is a tight schedule. The larger numerical strain is launch cadence: SLS had been tracking toward roughly one launch every three years, but NASA now wants one rocket ready in 2027 for Artemis III and two more in 2028 for Artemis IV and V, effectively three missions within two years.

The newsletter also shows that space investing and defense demand are still expanding. Sierra Space raised $550 million; the ERShares Private-Public Crossover ETF has taken in more than $470 million since December 8, 2025, largely because of its SpaceX stake. Voyager Technologies rose about 6% after raising revenue guidance, with a record backlog of $266 million, up 33% year over year. On infrastructure timing, the International Space Station had been slated to deorbit by the end of 2030, but a bill in Congress pushes that back by two years to the end of 2032; separately, Vast secured $500 million in new funding, and Landspace tested a 220-ton (original: 220-ton) methane engine.