Relativity Space may soon move a majority of its operations to Texas

As he consolidates control over Relativity Space, new owner and chief executive Eric Schmidt is planning significant changes at the launch company, including a move to the Lone Star State. Schmidt's recent acquisition of the California-based company, which has largely evolved away from its 3D-printing origins to becoming a more conventional rocket developer, has solved Relativity's primary need. The company has been in a cash crunch for months, and being acquired by one of the 50 wealthiest people on the planet provides financial stability. One source said Schmidt has made a "mega" investment in Relativity, but the company has not publicly stated the size. It is likely to be at least $1 billion, if not more. Schmidt is also taking an active hand in operations. Undertaking his first CEO role in more than a decade since leaving Google, Schmidt is said to be going all in on setting Relativity on a sustainable path. The company faces several major challenges as it seeks to bring the Ter ... Read full article.