News
Rocket Lab spacecraft sends NASA’s CAPSTONE mission to the Moon
Rocket Lab has successfully sent a small NASA spacecraft on its way to the Moon, acing the complex interplanetary launch on its first try.
The public aerospace company’s (mostly) standard two-stage Electron rocket lifted from its New Zealand-based LC-1 pad on June 28th and inserted NASA’s tiny 25-kilogram (~55 lb) “Cislunar Autonomous Positioning System Technology Operations and Navigation Experiment” (CAPSTONE) spacecraft into a low Earth parking orbit without issue. As is fairly typical for most modern Electron launches, a small ‘kick stage’ was included for orbital operations and payload deployment, but CAPSTONE’s kick stage and destination were anything but typical.
Instead of slightly and briefly tweaking a run-of-the-mill low Earth orbit, CAPSTONE’s kick stage was tasked with sending the spacecraft (and itself) all the way from LEO (~300 kilometers) to a lunar transfer orbit with an apoapsis 1.2 million kilometers (~750,000 mi) from Earth.
To accomplish that feat, Electron’s extensively upgraded Lunar Photon kick stage would need to perform more than half a dozen major burns spread out over almost a week, and survive hostile conditions while maintaining total control throughout. Generally speaking, Rocket Lab offers three kick stage variants: a standard low-thrust, low-longevity stage for small orbital adjustments shortly after launch; an upgraded Photon that can either serve as a long-lived satellite or kick stage; and an even more upgraded Photon with large propellant tanks and a more powerful ‘HyperCurie’ engine. With an impressive 3200+ meters per second of delta V, the latter variant could boost significant payloads into higher Earth orbits but is primarily designed for deep space missions – sending payloads beyond Earth orbit.
Rocket Lab wants to launch its own self-funded mission(s) to Venus, delivering one or several small atmospheric probes to help peel back the curtain on the chronically under-explored planet. It also won a 2021 contract to supply a pair of Mars-bound Photon spacecraft buses for NASA’s Escape and Plasma Acceleration and Dynamics Explorers (ESCAPADE) in 2024, and has multiple orders for simpler Photons that will support slightly more ordinary missions back in Earth orbit.
Lunar Photon’s performance on CAPSTONE bodes extremely well for those ambitious future plans. Within hours of reaching orbit, Photon had begun the orbit-raising process. Over the course of five days, Photon performed six major burns, effectively taking larger and larger ‘steps’ towards the Moon. The spacecraft’s seventh and final burn boosted its apoapsis almost tenfold from ~70,000 to 1.2 million kilometers from Earth, officially placing CAPSTONE on a ballistic lunar trajectory (BLT). While highly efficient, CAPSTONE’s trajectory means it will have to wait until November 2022 to truly enter orbit around the Moon using its own small thrusters.
Once there, “CAPSTONE will help reduce risk for future spacecraft by validating innovative navigation technologies and verifying the dynamics of” lunar near-rectilinear halo orbits (NRHO). The story behind that strange lunar orbit – which will make exploring the Moon’s surface significantly less convenient – is far less glamorous, however. CAPSTONE is essentially a tiny precursor to NASA’s Artemis Program, which the agency claims will help “establish the first long-term presence on the Moon.”
In reality, NASA’s concrete plans currently include a series of short and temporary human landings in the 2020s. While the agency has contracted with SpaceX to develop a potentially revolutionary Starship Moon lander for a single uncrewed and crewed demonstration mission, NASA’s current plan involves using its own Space Launch System (SLS) rocket and Orion spacecraft as a sort of $4 billion lunar taxi to carry astronauts from Earth’s surface to a Starship lander waiting in lunar orbit. Starship will then carry those astronauts to the surface, spend about a week on the ground, launch them back into lunar orbit, and rendezvous with Orion, which will finally return them to Earth.
Orion’s service module delivers about half as much delta V as NASA’s 50-year-old Apollo Service Module, severely limiting its deep space utility and making safe crewed trips to and from low lunar orbits virtually impossible on its own. Instead of improving the spacecraft’s performance and flexibility by upgrading or replacing the European-built service module (ESM) over the last decade, NASA accepted that Orion would only ever be able to send astronauts to lunar orbits that would always be inconvenient for surface operations.
CAPSTONE’s ultimate purpose, then, is to make sure that spacecraft operate as expected in that compromise orbit – only necessary because Orion can’t reach the lower lunar orbits that are already thoroughly understood.
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.
Tesla’s dreams of operating a fully autonomous ride-hailing platform just took a massive step toward reality, as two separate events have indicated the company is perhaps closer than ever to achieving self-driving as a product.
On Thursday, Tesla was granted authorization by the State of Texas to operate driverless vehicles in a commercial manner. On May 28, Senate Bill 2807, passed by the 89th Texas Legislature, took effect after being passed back on September 1, 2025.
The bill establishes a statewide regulatory framework requiring authorization from the Texas Department of Motor Vehicles for companies to operate automated vehicles commercially on Texas roads.
This covers driverless, or SAE Level 4+, operations for passenger transport, meaning Robotaxi, or freight.
Tesla and other companies can self-certify their vehicles and tech as long as they:
- Operate in compliance with Texas traffic laws
- Maintain proper registration, title, and insurance
- Use compliant automated driving systems
- Record onboard activity and handle system failures and glitches safely.
The new authorization, which was first reported by James Stephenson on X, allows companies to utilize their own processes to determine if their vehicles are ready to operate without drivers.
🚨BREAKING:
Tesla has been authorized by the State of Texas to operate driverless vehicles commercially under the new law that took effect today, May 28th, 2026. Tesla has officially self-certified the software running on its robotaxis as Level 4. $TSLA pic.twitter.com/KSJdsvlaW5— James Stephenson (@ICannot_Enough) May 28, 2026
It is a rule that expedites the entire approval process, keeping agencies out of a usually long, lengthy, and frustrating task that is essential to technological advancements. It essentially means Tesla can launch commercial Robotaxi operations at this point.
On the very same day, Tesla continued the momentum as CEO Elon Musk shared a video of Cybercab units autonomously driving off the property at Gigafactory Texas. This is a major step in the story of the Cybercab.
Mass production of the Cybercab started at Giga Texas in April, and it is already heading out of the factory on its own.
Cybercab driving itself out of the GigaTexas factory pic.twitter.com/EwAMVVDjYy
— Elon Musk (@elonmusk) May 28, 2026
These two major events mark a drastic step forward in Tesla’s progress toward Cybercab and the permissions it needs to operate a self-driving ride-hailing service. Tesla is now able to operate autonomously under Texas law by self-certifying, and with the potentially imminent rollout of Cybercab, Tesla’s autonomous dreams are starting to take serious shape.
Elon Musk
The Tesla and SpaceX merger everyone is talking about is quietly building
Tesla and SpaceX may be closer to merging than Wall Street or either company is admitting.
Elon Musk has reportedly discussed merging Tesla and SpaceX with people close to him, according to CNBC, which cited sources familiar with the conversation. Tesla employees have long expected such a transaction and the topic is openly discussed internally, according to internal sources. With SpaceX is days away from kicking off its Wall Street roadshow for what could be the largest IPO in market history, this would be the first time the company will have public market currency to execute a stock-for-stock deal with Tesla.
The financial logic for a merger would make sense. A combined SpaceX and Tesla would create a conglomerate spanning rockets, satellites, electric vehicles, AI infrastructure, and energy storage valued at roughly $3.35 trillion to $3.6 trillion based on SpaceX’s IPO target range and Tesla’s current market capitalization. The two companies are already more intertwined than most people realize. SpaceX bought $697 million worth of Tesla Megapack systems for xAI data centers and $131 million worth of Cybertrucks. Tesla invested $2 billion in xAI, which subsequently merged with SpaceX. Past transactions also include Tesla selling solar equipment and parts to SpaceX, and SpaceX helping with Cybertruck materials.
Will Tesla join the fold? Predicting a triple merger with SpaceX and xAI
Musk himself signaled where this was heading in November 2025 when he posted on X, “My companies are, surprisingly in some ways, trending towards convergence.” Tesla and SpaceX announced a joint semiconductor fabrication facility in Austin called Terafab on the Gigafactory Texas campus, covering two advanced chip factories, with one serving Tesla’s AI needs for vehicles and Optimus robots, the other targeting space-based data centers under SpaceX’s infrastructure vision.
Wedbush analyst Dan Ives places the probability of a merger at 80% to 90% with a target completion in the first half of 2027. The mechanics of a deal became possible the moment SpaceX filed its S-1. Legal experts said a merger likely would not spark antitrust issues but would raise concerns among shareholders in each company, with questions around which company would be the parent, how a stock swap would take place, and who determines the appropriate price. Musk holds about 20% of Tesla’s equity but controls 85.1% of SpaceX’s voting power through a super-voting share class, meaning he would largely be negotiating the terms with himself.
Not everyone is convinced the timing is imminent. Traders on Kalshi place only 33% odds that a merger will happen before May 2027. The more immediate concern for Tesla shareholders is whether the SpaceX IPO pulls capital and Musk’s attention away from Tesla before any merger consolidates the upside for both.
What is clear is that the structural groundwork is already being laid. The Terafab announcement, the xAI merger, the shared supply chain, the cross-company balance sheet transactions, and now the IPO all point in the same direction. Whether the merger follows in 2027 or later, the two companies are already operating more like divisions of a single entity than independent competitors.
Elon Musk strikes down reports on SpaceX IPO rumors
Tesla’s Robotaxi dreams just took a massive step toward reality
