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SpaceX Starship factory aiming to build five megarockets in 2023
CEO Elon Musk says that SpaceX’s South Texas Starship aims to build up to five of the two-stage megarockets in 2023.
SpaceX’s Boca Chica, Texas hardware endeavors began in an empty field in late 2018, kicking off Starhopper testing in 2019. In late 2019 and early 2020, the company began building the bones of the factory that exists today, relying heavily on several giant tents (“sprung structures”) similar to those used by Tesla. SpaceX has already begun the process of replacing those tents with larger, permanent buildings, but two of the original tents continue to host crucial parts of the Starship manufacturing process.
In terms of useful output, that manufacturing slowed down a bit in 2022. That slowdown can likely be partially explained by the need to move equipment and processes into the first finished section of Starfactory. But in general, SpaceX was simply focused on finishing and testing Starship S24 and Super Heavy B7 – both stages of the latest vehicle meant to attempt Starship’s first orbital launch.
Only by late 2022 did Ship 24 more or less complete proof testing, and Booster 7 is still several major tests away from solidifying full confidence in its design. SpaceX has only conducted limited testing with fully-stacked Starships, further reducing the amount of confidence the company can have in the assembled rocket. Lacking the data needed to know with certainty whether the tweaked designs of Starship and Super Heavy are good enough for several orbital test flights, it’s thus unsurprising that SpaceX only produced a handful of usable ships and boosters in 2022.
The update that's rolling out to the fleet makes full use of the front and rear steering travel to minimize turning circle. In this case a reduction of 1.6 feet just over the air— Wes (@wmorrill3) April 16, 2024
But if CEO Elon Musk’s forecast is correct, the company has plans to increase Starbase’s useful output in 2023. According to Musk, SpaceX aims to build “about five full stacks” this year, translating to five flightworthy Starships and five Super Heavy boosters.
In 2022, SpaceX finished Booster 7 and built Booster 8, Booster 9, and most of Booster 10. Booster 8 was almost immediately relegated to the retirement yard. Booster 9, featuring some significant design changes, completed a limited amount of proof testing and returned to the factory in early January – likely for Raptor engine installation. The fate of Booster 10 is unclear, but it stands as a prime example of how fast SpaceX can actually build massive Starship hardware when conditions are right. SpaceX began stacking B10 in late October 2022 and the vehicle is just two stacks away from full height three months later.
In the same period, SpaceX finished and immediately retired Starship S22, finished and began testing Ship 24, finished and began testing Ship 25, and finished stacking Ship 26. Booster 9’s upgrades partially insulate it from the most disappointing possible scenario, retirement before flight. Even if Booster 7 fails during prelaunch testing or its launch attempt, revealing major design flaws, it’s possible that Booster 9’s changes have already addressed those weaknesses, allowing it to continue the flight test campaign. Ship 25’s fate is even more dependent on the fate of Ship 24.
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In 2022, SpaceX ultimately produced two “full stacks,” with a third (S26/B10) likely to be completed – albeit with a less certain fate – in early 2023. Delivering five full stacks this year – meaning five ships and five boosters that make it far enough to be paired with another and fully stacked – would be a major improvement. However, as was the case in 2022, higher-volume production will remain a risky proposition until the designs of the vehicles being built have been fully qualified.
Given how long it’s taken SpaceX to partially qualify Super Heavy Booster 7, it appears that the largest source of uncertainty will remain for at least another month or two, if not well into mid-2023. Starship production has many uncertainties of its own, and all of them are complicated by not knowing if a Super Heavy booster will be available to launch each new ship in a timely fashion.
Ultimately, an entirely different constraint means that “five full stacks” may be all SpaceX needs to build for the next 12+ months. After a long and painful process, the FAA completed an environmental review of SpaceX’s Starbase, Texas facilities, permitting a maximum of five orbital (full-stack) Starship launches per year. Starship’s FAA orbital launch license, which has yet to be granted, could be even more restrictive. A second Starship pad under construction in Florida is unlikely to be cleared for orbital launches until Starship has proven itself to be moderately safe in South Texas, which could easily take 12-18 months, if not longer.
Combined with the fact that no super-heavy-lift rocket in history has flown five times in its first year of launch activity, a trend Starship seems unlikely to break, SpaceX could practically halt production entirely in 2023 and still have a full year of testing ahead of it while only using Ships 24-26 and Boosters 7, 9, and 10. Unintuitively, that bodes well for a busy 2023 of Starship test flights, as much of the hardware required for three flight tests is already close to completion or almost ready to begin preflight testing.
SpaceX stock did the opposite of what most of Wall Street expected this week, when the day designed to be its most dangerous turned into a rally, and the rally kept going.
Thursday marked the first major lockup expiration since SpaceX’s June IPO, making roughly 911.5 million insider held shares eligible to trade for the first time, more than doubling the company’s public float. Analysts and short sellers had spent weeks bracing for a flood of selling, especially after the stock fell 13 percent following its first earnings report as a public company on Tuesday. Instead, shares rose 6.1 percent Thursday to close at $114.92, and by Friday they were trading near $129, up more than another 12 percent on the day.
SpaceX shorts get warned by Musk ally, echoing Tesla’s early struggles
The setup made the outcome notable. Short interest had climbed to roughly 34 percent of the float heading into earnings, among the highest of any large cap stock, with about 95 percent of available shares to borrow already on loan. CEO Elon Musk warned short sellers twice in the weeks before the lockup, writing on X that “the survival probability of firms who maintain a significant short position in SpaceX over time is very low,” then following up on the morning of earnings with “I try to warn them, but they just double down.”
When the newly unlocked shares hit the market and the selloff never showed up, some of that short position appears to have started unwinding. TipRanks reported that options activity shifted toward bullish strategies like put selling and risk reversals following the rally, with roughly $600 million in options premium trading Thursday alone. Retail buyers also stepped in during the earnings dip, according to Vanda Research.
The fundamentals behind the stock have not changed much in a week. SpaceX’s revenue nearly doubled year over year to $7.8 billion, with Starlink subscribers doubling to 12 million and the company’s AI segment growing 247 percent. What spooked investors on Tuesday was the spending side. Capital expenditures jumped to more than $18 billion for the quarter, up from $2.8 billion a year earlier, with AI investment alone rising from $749 million to $15.8 billion. Wall Street remains split on whether that spending is building infrastructure SpaceX needs or outrunning what the business can currently support, a debate Teslarati has tracked since shares first came under pressure.
None of that resolves the bigger question hanging over the stock. Thursday’s release was only the first of nine staggered lockup tranches, with roughly $800 billion worth of additional shares scheduled to become eligible through October, and Musk’s own stake stays locked until next June. If this week is any indication, the market is treating that supply as something it can absorb rather than something to fear, at least for now.
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The Boring Company’s newest Vegas Station has a permit quietly waiting behind it
Sahara Las Vegas opened a new Vegas Loop station, joining an exclusive two resort transit club.
Sahara Las Vegas opened a new Vegas Loop station Thursday, giving The Boring Company’s underground transit system its northernmost stop yet on the Strip. The station sits at Sahara’s Paradise Road entrance, on the southeast corner of Las Vegas Boulevard and Sahara Avenue, and connects riders to the Las Vegas Convention Center, other Strip resorts on the network and, eventually, Harry Reid International Airport.
The addition makes Sahara the second resort, after Fontainebleau opened its own station in January, to get a stop built at street level rather than tucked into the property itself. Sahara now joins Westgate as the only two Strip resorts offering both a Vegas Loop station and a stop on the Las Vegas Monorail, giving guests two separate ways to get around without leaving the property.
The Boring Company just doubled its tunneling power in Nashville
The bigger news buried in Thursday’s announcement is what comes next. Boring Company has already secured its first permit to tunnel north of Sahara Avenue, extending the network beyond where it currently ends, even though permits to push the Loop toward downtown Las Vegas still haven’t been granted. Crews are also working on a two mile dual tunnel line running from Westgate to a planned station at 4744 Paradise Road, just north of Tropicana Avenue, that Las Vegas Convention and Visitors Authority CEO Steve Hill has said the company hopes to open in time for November’s Las Vegas Grand Prix.
Ridership has grown alongside the buildout. The Loop moved roughly 82,000 passengers during CONEXPO in early March, a total the company highlighted on its own X account at the time, and the system has now carried more than 4 million passengers through 11 open stations since it began running in 2021. The airport connector tunnels, meant to give the Loop a direct link to Harry Reid, have slipped past their original first quarter target and remain under construction, with Boring Company director Mike Baier saying that a full opening is still a few months out.
For Sahara, the calculation is straightforward. Convention traffic drives a large share of Loop ridership, and a station at the property’s front door gives conventiongoers one more reason to book rooms on the Strip’s north end instead of closer to the convention center itself.
Elon Musk
Tesla’s mysterious Robovan makes a sneak peek with Optimus in Terafab video
Elon Musk shared a new Terafab video showing Optimus, Robovans, and a stunningly futuristic campus.
Elon Musk posted a new video of Terafab on X Thursday morning, and the most eye-catching details in it were not the building itself, but two products still awaiting production: Optimus and the Robovan.
The concept render, credited to SpaceX, shows Optimus robots working the grounds of the roughly 2.5-mile-long facility planned for the Gibbons Creek site in Grimes County, while a Robovan glides along an elevated roadway cutting through the building itself, sharing the frame with a Tesla Semi and a Cybercab.
Robovan is the boxy, driverless people and cargo mover Musk unveiled alongside Cybercab at Tesla’s “We, Robot” event in October 2024. He pitched it as a way to move up to 20 passengers at once, or handle freight instead, at a target cost he claimed could fall under a dollar a mile, with no steering wheel or pedals, the same layout as Cybercab. Nearly two years later, Robovan still has no confirmed production timeline and has not shown up in any factory footage, which makes Thursday’s render one of the only recent looks at the vehicle in any form.
Terafab Texas will be the largest and most valuable building on Earth by far.
And it will be stunningly beautiful. pic.twitter.com/4NweOqTL7y
— Elon Musk (@elonmusk) August 6, 2026
Optimus has moved further along. Tesla began converting Fremont’s old Model S and Model X assembly line into a Gen 3 Optimus production line earlier this year, and Musk visited the site on July 1 to mark the changeover. A second, larger Optimus plant is under construction at Giga Texas, targeting volume production in summer 2027 and eventual capacity of 10 million units a year. Tesla AI lead Ashok Elluswamy said this month the robot has “big shoes to fill” in replacing the S and X line, while Musk has repeatedly called Optimus the company’s biggest product of any kind, with a long-term price he has pegged between $20,000 and $30,000.
Check out the “Robovan” from @Tesla
📸: @Teslarati pic.twitter.com/D4es2i9NUe
— TESLARATI (@Teslarati) October 11, 2024
“Terafab Texas will be the largest and most valuable building on Earth by far,” Musk wrote alongside the clip. “And it will be stunningly beautiful.”
One quote post summed up the reaction: “Futuristic scene with RoboVan + Cybercab + Tesla Semi + Optimus.”
Beyond the vehicles, the architecture wrapped around them stands out too. The building’s facade is canted at sharp angles, with illuminated horizontal bands running through what appears to be a multi level interior visible from outside. Below the elevated roadway, pedestrians walk along a plaza next to a reflecting pool, and the skyline behind the campus is dotted with angular spires that read more like sculpture than infrastructure, a departure from the strictly utilitarian look of Gigafactory Texas or Starbase.
The timing tracks with what Terafab representative Riley Trennell told Grimes County residents on Wednesday, when he said renderings of the facility would be released “within days.” Musk’s post followed less than 24 hours later, and Texas Governor Greg Abbott’s office sent out its own release Thursday confirming the project. As Teslarati reported this morning, Terafab’s tax abatement agreements with Grimes County are now signed and active, and SpaceX has sent the county its first $10 million payment under that deal. The dollar figure tied to this phase of construction, per Reuters, is $16.8 billion, one of the first hard capital expenditure numbers attached to Terafab since Musk unveiled the joint Tesla-SpaceX-xAI venture in March.Reaction on X ranged from enthusiastic to skeptical. “God Bless Texas! Everything is bigger and better in Texas!” one reply read. Another was more measured: “Terafab in a decade…..”
Whether the finished building matches the render is a separate question from whether Musk wanted people talking about the render itself. Less than a day after posting, the video had already crossed 5.5 million views.
Elon Musk and SpaceX shrugs off the trading day Wall Street feared most
The Boring Company’s newest Vegas Station has a permit quietly waiting behind it
