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US federal budget cuts have started to have some early impact on space startups after funding for such companies dropped 12.5% in the first quarter, according to investment firm Seraphim Space.
Elon Musk-led Department of Government Efficiency and the Trump administration have been delaying or cancelling contracts across its agencies to curb federal spending.
“Within certain government departments, uncertainty is causing delays as they assess which contracts to move forward with,” Seraphim Space investment analyst Lucas Bishop said.
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