Space
Mars exploration in focus as Europe prepares ExoMars Rover for search of life
2020 may be the year humanity takes its biggest step toward finding evidence of life beyond Earth. NASA and the European Space Agency (ESA) are each working on its own rover that will roam Mars’s surface in search of life.
The ExoMars mission is Europe’s first Mars rover. Named after British DNA pioneer Rosalind Franklin, the golf cart-sized robot is approximately one-third the size of NASA’s planned Mars 2020 rover and will look for signs that life might have existed on Mars.
Both rovers will act as remote scientists, beaming back a wealth of data and images to Earth.
Mars 2020 will collect Martian samples for eventual return to Earth sometime in the future, while ExoMars will use its unique drill to burrow below the surface. Here, the rover will find pristine samples that were shielded from the harsh radiation bombarding Mars’s surface. Scientists are hopeful that below the surface is where we could find our first evidence of life.
A Rover’s Purpose
Mars is a hostile place. Because its atmosphere is much thinner than Earth’s, life as we know it would have a difficult time surviving on the surface.
Billions of years ago, the surface of Mars was probably quite similar to that of Earth. However, that changed when Mars lost its magnetic field, which stripped its atmosphere, and exposed its surface to intense radiation. All of which made survival above ground incredibly challenging.
Historically, Mars missions have searched for signs of life on the planet’s surface, usually at places where there are signs of ancient water. That’s because this is typically where we find life on Earth.
But since we haven’t found life on the planet’s surface yet, mission scientists propose we need to dig deeper. There may be some microbial Martians underground.
The ExoMars rover (and accompanying lander) are a follow-on to ESA’s ExoMars Orbiter mission which reached Mars in 2016. That initial mission consisted of two parts: the Trace Gas Orbiter (TGO) and the Schiaparelli landing demonstrator.
Landing on Mars
TGO made it to Mars and is doing great, however, Schiaparelli didn’t fare so well — the lander crashed during its descent to the Martian surface.
Landing a probe on Mars is not easy. To safely navigate the tenuous Martian atmosphere requires a combination of sophisticated landing gear, including heat shields, retrorockets, and even giant, inflatable airbags.
Despite the crash landing, Schiaparelli achieved its goal as a technology demonstrator. It also showed that the team needed to revamp the landing system before the rover launches. But, with less than a year till liftoff, the rover team is struggling with an established piece of landing architecture: parachutes.
In order to slow the rover down, the mission requires multiple parachutes — one 15 meters (49 feet) in diameter and one 35 meters (115 feet).
As the rover begins its descent, atmospheric drag will slow the craft from around 21 000 km/h (13,048 mph) to 1700 km/h (1,056 mph). That’s when the first parachute will deploy. About 20 seconds later, at about 400 km/h (248 mph), the second chute will deploy. Lastly, the braking engines will kick in about 1 km (or half a mile) above the ground, enabling the rover land safely on the Martian surface.
The entire sequence takes just six minutes.
Parachute Troubles
During high-altitude testing conducted earlier this year, the craft’s parachutes ripped as soon as they deployed. ESA engineers made several adjustments, including reinforcing both the parachutes and their storage bags with Teflon to make them deploy easier. The chutes are still tearing.
Now the agency is turning to NASA for help. ESA engineers are teaming up with the folks at the Jet Propulsion Laboratory, to put the enhanced parachutes through months of rigorous testing.
In the meantime, the rover team is putting its hardware through a round of thermal testing. For 18 days it will be subjected to the same harsh temperature conditions experienced on Mars.
The parachutes are expected to finish testing sometime in April 2020; they will then be integrated with the rover and shipped to the launch site in Kazakhstan. However, if any part of the mission misses its deadline, the entire project could be sidelined until the next favorable Mars launch window — in 2022.
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The Ontario Teachers’ Pension Plan (OTPP) stands to reap one of the most extraordinary returns in pension fund history thanks to a bold 2019 investment in SpaceX.
According to a recent report from The Globe and Mail, the Toronto-based fund invested roughly $300 million CAD (~$220 million USD at the time) in Elon Musk’s space company as its inaugural deal through the Teachers’ Innovation Platform.
At SpaceX’s anticipated $1.75 trillion IPO valuation, set for a mid-June debut on Nasdaq under ticker $SPCX, that stake could now be worth up to $11.6 billion USD. This would represent a roughly 50x return and easily become OTPP’s most successful single investment ever.
The fund manages $279 billion in assets for approximately 346,000 working and retired teachers in Ontario, potentially delivering an average boost of around $33,500 per member if fully realized.
SpaceX has filed its S-1 and plans to price shares at $135 each, aiming to raise a record $75 billion in what would be the largest IPO in history, surpassing Saudi Aramco. The company reported $18.67 billion in revenue for 2025, driven primarily by Starlink satellite internet growth and NASA contracts, though it continues to post significant losses tied to ambitious R&D in Starship and AI initiatives.
Important pieces moving forward include:
- Starlink Expansion: The satellite broadband service is scaling rapidly, targeting global connectivity, especially in underserved rural and remote areas. This segment offers massive recurring revenue potential as numbers climb.
- Starship and Reusability Leadership: SpaceX’s fully reusable Starship aims to slash launch costs dramatically, enabling frequent missions, Mars ambitions, and lucrative government/defense contracts. Success here could unlock exponential growth.
- AI and Diversification: Recent moves, including ties to xAI, position SpaceX in high-growth AI infrastructure, broadening beyond traditional aerospace.
- Validation Scrutiny: While the $1.75 trillion target excites investors, analysts like Morningstar value the company closer to $780 billion, citing high multiples (around 90x trailing revenue) and execution risks. A 180-day lockup period will prevent early investors like OTPP from selling immediately post-IPO.
The irony has not been lost on observers. Ontario’s government previously canceled a Starlink rural internet contract amid political tensions involving Musk, yet the pension fund’s savvy investment, made when SpaceX was valued around $33-36 billion, and Starlink was nascent, delivers outsized gains independent of politics.
For OTPP, this windfall strengthens its already solid 111 percent funding ratio and underscores the value of patient, innovation-focused capital allocation.
For SpaceX, the IPO marks a new chapter: greater transparency, access to public markets for talent retention and growth capital, and heightened pressure to deliver on its multi-planetary vision.
All eyes are fixed on whether SpaceX can justify its lofty valuation through sustained execution. For Ontario teachers, the returns are already stellar, but SpaceX, like other Musk companies in the past, has plenty of things to prove. Perhaps the most ideal person for the job is at the helm, hoping to bring the company to a massive valuation.
Elon Musk has firmly denied recent media reports suggesting that SpaceX has reduced its target valuation for an upcoming initial public offering.
The denial came directly from the SpaceX and Tesla frontman on his social media platform X, where he responded with a single word, “False,” to a post from ZeroHedge that cited Bloomberg sources.
This swift rebuttal underscores Musk’s ongoing effort to manage speculation surrounding one of the most anticipated market debuts in recent history.
False
— Elon Musk (@elonmusk) May 29, 2026
According to the disputed reports, SpaceX had lowered its IPO valuation goal to at least $1.8 trillion from previous ambitions exceeding $2 trillion.
The claims emerged amid growing anticipation for the company’s confidential S-1 filing, which positions it for a potential public listing as early as June.
Some had pointed to strong revenue growth, particularly from the Starlink satellite internet service, which contributed heavily to the firm’s 2025 figures of $18.7 billion. Yet challenges persist in other areas, including substantial investments and losses tied to ambitious projects like Starship development and artificial intelligence initiatives, which plan to make life multiplanetary eventually.
Musk’s response highlights a pattern in which he actively counters what he views as inaccurate portrayals of his companies’ trajectories.
SpaceX, already valued privately at extraordinary levels, stands as a cornerstone of Musk’s empire alongside Tesla and xAI. The entrepreneur has long emphasized the transformative potential of reusable rockets and global broadband access, factors that fuel investor enthusiasm despite operational hurdles.
By rejecting the valuation downgrade narrative, Musk signals confidence in SpaceX’s fundamentals and its readiness for public markets on terms favorable to its long-term vision. People have been waiting a very long time to invest in SpaceX, and the valuation, as well as the introductory share price, is not going to need adjusting.
They’ll have plenty of suitors.
This episode reflects broader dynamics in the technology sector, where rumors often swirl around high-profile entities. Musk’s direct engagement with media narratives serves to maintain transparency and control the narrative around his ventures.
As SpaceX prepares for greater scrutiny in public markets, the founder’s denial reinforces optimism about its prospects. Supporters argue that the company’s innovative edge positions it for enduring success, far beyond short-term valuation debates. With the denial now public, attention turns to forthcoming regulatory filings that could provide clearer insights into SpaceX’s strategy and financial health.
The coming weeks promise to reveal more about how SpaceX will transition into a publicly traded powerhouse.
Elon Musk
SpaceX to become America’s Military data backbone for missiles, drones, and warfighters
The Space Force just handed SpaceX $2.29 billion to build the military’s space internet backbone.
The U.S. Space Force awarded SpaceX a $2.29 billion contract on May 26, 2026 to build the backbone of its Space Data Network, a satellite-based communications system designed to keep American military forces connected anywhere on Earth in real time. The contract is firm-fixed-price and requires SpaceX to deliver a fully operational prototype by the end of 2027.
In plain terms, the SDN Backbone is the plumbing behind the military’s space-based internet. It functions as a low Earth orbit satellite constellation providing robust, high-capacity, and low-latency data transport for the Joint Force, connecting sensors and weapons systems continuously, globally, and securely. Think of it as a private, hardened version of Starlink built specifically for battlefield communications, one that soldiers, ships, and aircraft can rely on even in contested environments where ground-based networks have been disrupted.
SpaceX is quietly becoming the U.S. Military’s only reliable rocket
The Space Force was direct about why SpaceX was selected. “The SDN Backbone leverages the best of commercial innovation and delivers a strong foundation for the SDN mission set — a huge benefit and enabler for our warfighters,” said USSF Col. Ryan Frazier.
“We aren’t trading speed for scale; we are demanding both. By using rapid prototyping and Other Transaction Authorities, we are ensuring our advanced solutions are integrated and delivered to the warfighter as fast as possible,” added USSF Lt. Col. Fry, SDN Backbone system program manager.
The SDN Backbone will work alongside the Space Development Agency’s Transport Layer, with the two systems forming a unified open architecture to provide critical data transport for current and future Department of War missions.
As Teslarati has reported, this is not SpaceX’s first Space Force contract of 2026. In April, the Space Force awarded SpaceX $178.5 million to launch missile tracking satellites, and SpaceX is already embedded in the Golden Dome missile defense software group. The $2.29 billion SDN Backbone award puts SpaceX at the center of how the American military communicates in space, a position with direct implications for its reported $1.75 trillion IPO valuation as the company heads toward a public offering as early as June 2026.
Tesla tipped its hand at where Robotaxi is heading next
Tesla just did something in South Korea that no foreign carmaker has ever done
