News
Northrop Grumman partners with Firefly and SpaceX to save Antares rocket, launch Cygnus spacecraft
Northrop Grumman has announced plans to partner with startup Firefly Aerospace to save (and upgrade) the conglomerate’s Antares rocket, which it uses to launch Cygnus cargo spacecraft to the International Space Station.
The new and improved Antares 330 rocket could debut as early as late 2024. The existing Antares 230 rocket has just two launches left before a lack of new hardware from crucial Ukrainian suppliers will permanently ground it – a time Northrop Grumman estimates will come as early as spring (Q2) 2023. To fill Antares’ 18-month availability gap, Northrop Grumman says it has purchased three SpaceX Falcon 9 launches to continue Cygnus space station cargo deliveries largely unabated.
In some ways, Northrop Grumman’s decision to purchase alternate launch services from SpaceX is surprising. After Antares suffered a catastrophic failure during an operational Cygnus launch in October 2014, Orbital Sciences chose to purchase three Atlas V launches from the United Launch Alliance (ULA) to ensure continued cargo deliveries while it attempted to return its own rocket to flight. Antares fully took over in 2017 after returning to flight in 2016.
However, seven or so years later, ULA is on the verge of retiring Atlas V and has already sold all remaining Atlas V launch contracts. Meanwhile, its next-generation Vulcan Centaur rocket is years behind schedule and unlikely to debut before 2023, making it extremely unlikely that ULA would have been able to fulfill Northrop Grumman’s desire to preserve its existing Cygnus launch schedule. It’s possible that Vulcan could have gotten the job done, but each Cygnus launch would have likely ended up several months (or more) behind schedule, thus requiring SpaceX and future provider Sierra Nevada Corporation to fill in the space station resource gaps Cygnus would leave.
With the benefit of hindsight and knowing that Antares 330 is unlikely to debut before late 2024 or 2025, it’s clear that SpaceX was the only viable option. Thanks to SpaceX operating in an entirely different universe of launch cadence and availability relative to the rest of the world, the company should have no issue whatsoever substituting a few of the dozens of Falcon 9 Starlink launches likely planned in 2023 and 2024 with Cygnus space station resupply runs.
Northrop Grumman’s decision comes almost four months after Russia’s second illegal invasion of Ukraine, an action that immediately threw the future of its Antares rocket into question. The only major components of Antares-Cygnus Northrop Grumman (through its 2018 acquisition of Orbital ATK) is responsible for building are the rocket’s Castor 30XL second stage and Cygnus’ service module. Cygnus’ silver pressure vessel is built by Thales Alenia Space, the payload fairing is built by RUAG, the Antares booster engines are supplied by Russia’s NPO Energomash, and the Antares booster structures are built by Ukraine’s Yuzhnoye SDO and Yuzhmash.
Now embroiled in an open shooting war begun by Russia, Ukraine’s aerospace industry has been on borrowed time for several months. In July, the Yuzhmash factory was reportedly struck by cruise missiles, killing several people and presumably damaging the facility. Northrop Grumman’s August 8th announcement that it US startup Firefly Aerospace will build a domestic replacement for the Antares first stage all but guarantees that its former Ukrainian partners are no longer able to supply rocket hardware.
The Antares 330 booster Firefly intends to build for Northrop Grumman will be substantially larger and “significantly increase” the rocket’s performance to low Earth orbit (LEO), which currently sits at 8 tons (~17,500 lb). Intriguingly, the booster Firefly will supply appears to be the latest iteration of the first stage of the medium-lift Beta rocket the startup has been working on for some time. According to Firefly’s recently updated Beta webpage, the next-generation rocket is expected to measure 4.32 meters (14.1 ft) wide and 55.7 meters (182.5 ft) tall; produce about 720 tons (1.6M lbf) of thrust in vacuum, and launch up to 13 tons (28,700 lb) to LEO.
Elon Musk
SpaceX (SPCX) IPO is live today at $135: Here’s exactly what you need to know
SpaceX priced its historic IPO at $135 per share today, raising a record $75 billion.
SpaceX officially priced its initial public offering at $135 per share, offering 555,555,555 shares of Class A common stock and raising $75 billion in what is the largest IPO in stock market history. Shares are set to begin trading on the Nasdaq Global Select Market on Friday, June 12, under the ticker symbol SPCX. The previous record holder was Saudi Aramco’s 2019 offering at $29 billion, followed by Alibaba’s $22 billion offering in 2014.
At $135 per share and roughly 555.6 million shares, the implied valuation sits near $1.75 trillion, which would make SpaceX roughly the seventh largest company in the United States, just above Tesla’s current market cap. Regular investors can request shares at the IPO price through Robinhood, Fidelity, Charles Schwab, SoFi, and E*TRADE, though the deal is heavily oversubscribed and most retail allocations will be partial or unfilled. Once trading opens June 12, anyone with a brokerage account can buy SPCX on the open market.
SpaceX’s amended S-1 is sparking a major Tesla merger conversation
The valuation is anchored primarily by Starlink. Starlink crossed 10 million subscribers as of February 2026 and is adding 750,000 to 1.5 million new users per month, with the connectivity segment already posting a $1.19 billion profit last quarter. The offering also bundles in xAI following SpaceX’s all-stock merger earlier this year, adding Grok and the Colossus supercomputer to the investment thesis. As Teslarati reported, Starlink ended 2025 with $10 billion in revenue, a figure analysts project could reach $24 billion by end of 2026.
Wedbush analyst Dan Ives has been vocal in his support. “I think the time is right,” Ives said, adding that the offering expands the Elon Musk ecosystem rather than competing with Tesla. An average 12-month price target of $165 per share represents roughly 22% upside from the IPO price. Not everyone agrees – Motley Fool noted xAI is spending $1 billion per month playing catch-up to OpenAI and Anthropic.
Musk founded SpaceX in 2002 with a single stated purpose. “Elon founded SpaceX with a goal to change humanity, to make us a multi-planet species,” CFO Bret Johnsen said in the company’s retail roadshow video this week. Musk himself has been more direct: “We are building the systems and technologies necessary to provide global connectivity on Earth and beyond, to understand the true nature of the universe, and to extend the light of consciousness to the stars.”
Investor's Corner
Tesla unfolded its first European “folding Supercharger”
Tesla’s folding Supercharger just arrived in Europe and it changes how fast charging expands.
Tesla’s Folding Unit Supercharger has officially landed in Europe, with the company teasing a new installation in its effort for a broader rollout targeting major motorway rest stops across the European continent in Q3 2026. The arrival marks a notable shift in how Tesla is thinking about network expansion, moving from hardware performance alone to engineering the logistics chain itself.
While Tesla did not reveal the exact location for the new folding Supercharger in Europe, the photo shared on X heavily suggests that this maybe somewhere in Norway. Historically, whenever Tesla rolls out an entirely new infrastructure architecture in Europe, whether it was the original Supercharger stalls years ago or these brand-new modular V4 “Folding Units”, Norway is almost always the designated launch pad because of its unmatched EV adoption rate and supportive infrastructure
The Folding Unit, introduced in March 2026, is a factory pre-assembled V4 charging station built on an industrial hinge system mounted to a heavy-duty concrete base. The entire assembly arrives on site ready to unfold and connect. Tesla confirmed the units feature telescopic light poles specifically designed for easy transportation and fast on-site deployment, a detail that signals how carefully the logistics chain has been engineered alongside the hardware itself. The design allows 33% more stalls per delivery truck, cuts installation time roughly in half, and reduces overall deployment costs by more than 20% compared to traditional installations.
Tesla’s newest “Folding V4 Superchargers” are key to its most aggressive expansion yet
Tesla also noted telescopic light poles which provide benefits over traditional Supercharger installations that require fixed-height poles that are awkward to ship, slow to position on site, and often require separate crews and equipment to erect before charging hardware can even be staged. By engineering poles that compress for transit and extend on arrival, Tesla has removed one of the quieter bottlenecks in the physical deployment process. Every hour saved on a light pole installation is an hour redirected toward getting stalls energized. At scale, across dozens of new sites per quarter, those hours add up to a meaningful acceleration in how quickly a location goes from approved permit to serving its first customer.
Each Folding Unit pairs a single V4 power cabinet with eight charging posts. The V4 cabinet delivers up to 500 kW per stall for passenger vehicles and up to 1.2 MW for the Tesla Semi, supporting twice the stalls per cabinet at three times the power density of its predecessor. Longer cables make every new station immediately usable by non-Tesla vehicles, a priority as Tesla continues opening its network to Ford, GM, Rivian, Hyundai, Stellantis, and others.
As Teslarati reported when the Folding Unit was first unveiled, Tesla’s Gigafactory New York produced its final V3 Supercharger cabinet in March 2026 after more than seven years and 15,000 units, completing a full pivot to V4 production. The European arrival of the folding design is the next chapter in that transition.
Faster and cheaper deployment means Tesla can justify building in markets and corridors that were previously too expensive to serve, filling the coverage gaps that have slowed EV adoption outside major urban centers.
First Folding Unit Superchargers in Europe 🇪🇺 https://t.co/KNfYWJukkL pic.twitter.com/YR1udIpH1i
— Tesla Charging (@TeslaCharging) June 10, 2026
Tesla has stunned by gaining yet another approval for its Full Self-Driving suite in Europe, its second in two days and its fifth overall.
Belgium will be the latest country to allow Tesla owners to utilize FSD on public roads in Europe, joining a quickly growing list that started with the Netherlands, Lithuania, and Estonia.
On Tuesday, Denmark announced its approval of the FSD suite, which has now been followed by Belgium just one day later.
The country’s Minister of Mobility, Annick De Ridder, announced the approval on her X account, stating that she had just signed the approval of Tesla FSD. It now goes to the country’s homologation department for the last step of the approval process.
De @Tesla community houdt hier al geruime tijd de vinger aan de pols over de toelating voor de FSD-technologie op onze Vlaamse en Belgische wegen.
Uit waardering voor jullie niet-aflatende interesse (en aanmoediging 😉), krijgen jullie hierbij de primeur: ik heb net de toelating… pic.twitter.com/Yrps4OHTj8— Annick De Ridder (@AnnickDeRidder) June 10, 2026
The Belgian approval is one of mighty importance because it truly shows how quickly countries in Europe could greenlight the FSD suite consecutively. Approvals are already coming in relatively quickly, which is a great sign.
Perhaps the next big development that could come from FSD approvals in Europe is an approval from a country like England, Italy, France, Spain, or Germany. It would be something to see how FSD would perform in a major European metro, such as London, Barcelona, Madrid, Paris, Rome, or Berlin.
Getting Full Self-Driving in Spain and England will be such huge milestones for Tesla. I am so excited to see how FSD performs in Madrid, Barcelona, and London, specifically.
The ultimate test will always be Mumbai or New Delhi. Excited for India’s eventual approval! https://t.co/paw9Ch1qmL pic.twitter.com/9RdDERVSSJ
— TESLARATI (@Teslarati) June 9, 2026
Full Self-Driving does an excellent job of roaming around major U.S. cities like New York and Los Angeles, but other high-profile international cities of significance would truly mark a line in the sand for Tesla, which can simply enable any vehicle in its customer-owned fleet to run FSD with the correct approvals.
SpaceX (SPCX) IPO is live today at $135: Here’s exactly what you need to know
Tesla unfolded its first European “folding Supercharger”
