This is the best tl;dr I could make, original reduced by 85%. (I’m a bot)
The National Aeronautics and Space Administration plans to retire the International Space Station by the end of this decade, so the U.S. space agency is turning to private companies to build new space stations in orbit – and expects to save more than $1 billion annually as a result.
NASA also perceives the strong interest from companies as a signal that the U.S. space industry “Is technically and financially capable of building commercial space destinations,” McAlister said, which would decrease the agency’s “Financial commitments” to science and research in orbit.
NASA has already begun funding the ambitions of one company under a separate but related contract, having awarded Axiom Space with a $140 million to build modules that will connect to the ISS. When the ISS retires, Axiom plans to detach its modules and turn it into a free-flying space station.