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Rocket Lab secretly launches revolutionary satellite and readies for US launch debut
Rocket Lab’s recent flawless return to flight mission nicknamed “I Can’t Believe It’s Not Optical,” set the company up for loftier goals in the latter half of 2020 in a big way. Returning to operation after an in-flight anomaly and subsequent investigation is a massive accomplishment for any launcher. Returning to flight and debuting a pathfinder satellite developed and built in-house, however, solidified Rocket Lab as a full end-to-end space systems company.
For good measure, company founder and chief executive officer, Peter Beck, hopes to round out the year by activating two more Electron launchpads – one of which will be the launcher’s first US-based launch location dedicated to supporting missions for the United States government. Furthermore, following Electron’s seventeenth flight, Rocket Lab hopes to recover the expended first-stage booster – and perhaps more importantly, a mountain of data – as a stepping stone to launch vehicle reuse, a practice pioneered and solely dominated by SpaceX.
A return to flight and an introduction to space systems
Just eight weeks after Electron’s ill-fated thirteenth flight resulting in the loss of a second stage and all customer payloads due to an in-flight electrical anomaly, the next Electron was raised at Launch Complex 1 in Mahia, New Zealand. The fourteenth flight of Electron was a dedicated mission for San Francisco-based information services company, Capella Space. Initially announced, the mission deployed a single microsatellite called “Sequoia” to an approximate 500km circular orbit. Peter Beck later confirmed the mission also secretly featured the successful deployment of Rocket Lab’s first in-house designed and built satellite called “First Light.”

“First Light” is a pathfinder spacecraft based on Rocket Lab’s configurable Photon satellite platform. According to Rocket Lab, it exploits Electron’s Kick Stage, “a nimble but powerful extra stage on Electron designed to circularize payload orbits.” The Kick Stage is designed as a satellite bus with extended capabilities to transition into a satellite – Photon – and performing an independent standalone mission. This is exactly what occurred with “First Light.”
Following the deployment of the “Sequoia” microsatellite, Rocket Lab teams signaled the Kick Stage to enable the standalone Photon capabilities. The command transitioned the spacecraft from a delivery vehicle to a fully functional satellite for the very first time. “First Light” serves as the testbed of many upgraded components including improved management systems for power, thermal, and attitude control.
in a statement provided by Rocket Lab Beck said, “Launching the first Photon mission marks a major turning point for space users – it’s now easier to launch and operate a space mission than it has ever been. When our customers choose a launch-plus-spacecraft mission with Electron and Photon, they immediately eliminate the complexity, risk, and delays associated with having to build their own satellite hardware and procure a separate launch.”
Eventually, the extended Photon capabilities of the Kick Stage will be used to support lunar and interplanetary missions. Beck has gone on record many times stating that Rocket Lab is working toward funding a private mission to Venus with a more robust version of the Photon platform which will deploy a probe to collect information about the Venusian atmosphere.
Counting down to Electron’s first launch from Virginia
On September 17, just two weeks after introducing the world to “First Light,” Rocket Lab announced the final successful Electron wet dress rehearsal at its new Launch Complex 2 (LC-2) at the Mid-Atlantic Regional Spaceport in Wallops Island, Virginia.

The wet dress rehearsal is a standard preparatory practice of raising the rocket vertical on the launchpad, fueling the rocket, and conducting a practice run of all countdown systems and procedures ahead of a launch attempt. This gives launch teams the opportunity to ensure that the rocket is prepared for flight and work out any kinks that may arise ahead of sending the vehicle to space. The countdown is carried down to T-0 and then the vehicle is emptied and safed.
Recently, Rocket Lab was granted a five-year Launch Operator License by the Federal Aviation Administration for the LC-2 site enabling the space systems company to support up to ten Electron missions a year from U.S. soil. The new operator license combined with the one previously procured for Launch Complex 1 in New Zealand allows Rocket Lab to support up to 130 flights of the Electron rocket globally per year.
It was speculated that Electron’s next flight – and the first launch from LC-2 in Virginia – would be the dedicated STP-27RM mission coordinated by the U.S. Space Force’s Space and Missile Systems Center. The first from Virginia will launch a single microsatellite for the Air Force Research Laboratory’s Monolith program. However, the first mission from Virginia is still waiting on a debut date to be identified.
In order for Electron to fly from Virginia, NASA must first certify Electron’s Autonomous Flight Termination System (AFTS) – a protective measure that will automatically destroy the rocket in a safe manner should anything anomalous occur during first stage flight. Electron’s AFTS has already previously flown numerous times from New Zealand. The first flight from Virginia, however, will be the first time a vehicle will launch from the Mid-Atlantic Regional Spaceport with an AFTS.
15 launches, 3 launch pads, and a booster recovery

Until then, Rocket Lab is busy preparing for flight fifteen from New Zealand. The recently announced mission, nicknamed “In Focus,” is a rideshare mission featuring nine SuperDove satellites for Planet Labs and one payload for Spaceflight Inc. customer Canon Electronics Inc.
While preparing for the next flight, nearby Rocket Lab is simultaneously wrapping up construction on yet another launch pad. Launch Complex 1B is very much near completion and is expected to be brought online by year’s end. And that’s not the last goal Rocket Lab looks to achieve by the new year.

Beck has time and time again confirmed that the seventeenth flight of Electron will be the first attempt at recovering an expended first stage booster. Eventually, the company will attempt to catch the booster as it is falling back to Earth under the canopy of a parachute by utilizing a helicopter equipped with a specialized grappling hook. The first attempt at recovering a booster is not expected to be quite as elaborate.
Rocket Lab has strengthened the first-stage booster enough to survive the return trip. Until now, the booster has slammed into the ocean water and broken up into small bits. With the assistance of improved software and a deployable parachute, the booster of flight seventeen is expected to softly float back for a gentle water landing with the assistance of “recovery pontoons” as described in a Twitter post by Beck.
As of now, Rocket Lab has not identified any target dates for the upcoming milestones. The company has previously stated that the first mission from Virginia is expected to launch in the third quarter of 2020. Electron’s next flight – “In Focus” – from New Zealand is expected in the first half of October. Rocket Lab will provide future launch and development updates on their social media accounts.
Elon Musk
ARK’s SpaceX IPO Guide makes a compelling case on why $1.75T may not be the ceiling
ARK Invest breaks down six reasons SpaceX’s $1.75 trillion IPO valuation may be justified.
ARK Invest, which holds SpaceX as its largest Venture Fund position at 17% of net assets, has published a detailed investor guide to why a SpaceX IPO may be grounded in a $1.75 trillion target valuation.
The financial case starts with Starlink, SpaceX’s satellite internet constellation, which has surpassed 10 million active subscribers globally as of early 2026, with 2026 revenue projected to exceed $20 billion. ARK’s research puts the total satellite connectivity market opportunity at roughly $160 billion annually at scale, and Starlink is adding customers faster than any telecom network in history. That growth alone would justify a substantial valuation.
Additionally, ARK notes that SpaceX has reduced the cost per kilogram to orbit from roughly $15,600 in 2008 to under $1,000 today through reusable Falcon 9 hardware. A fully operational Starship targeting sub-$100 per kilogram would represent a significant cost decline and open markets that do not currently exist. SpaceX executed a staggering 165 missions in 2025 and now accounts for approximately 85% of all global orbital launches. That infrastructure position took decades to build and would be nearly impossible to replicate at comparable cost.
SpaceX officially acquires xAI, merging rockets with AI expertise
The February 2026 merger with xAI added a layer to the valuation that straightforward financial models struggle to capture. ARK argues that at sub-$100 launch costs, orbital data centers could deliver compute roughly 25% cheaper than ground-based alternatives, without power grid delays, permitting friction, or land constraints. Musk has stated a goal of deploying 100 gigawatts of AI computing capacity per year from orbit.
The $1.75 trillion figure itself is not a conventional earnings multiple. At roughly 95x trailing revenue, it prices in Starlink’s adoption curve, Starship’s cost trajectory, and the orbital compute thesis together. The public S-1 prospectus, due at least 15 days before the June roadshow, will give investors their first complete look at the financials to test those assumptions. ARK’s position is that the track record earns the benefit of the doubt. Fully reusable rockets were considered unrealistic for years. Starlink was considered financially unviable. Both happened on timelines that surprised skeptics.
Elon Musk
Ford CEO Farley says Tesla is not who to look at for EV expertise
Interestingly, Farley has been one of the most hellbent CEOs in terms of a legacy automaker standpoint to push the EV effort. It did not go according to plan, as Ford took a $19.5 billion charge and retreated from its EV push in late 2025.
Ford CEO Jim Farley said in a recent podcast interview that Tesla is not who Americans should look at to beat Chinese carmakers.
The comments have sparked quite a bit of outrage from Tesla fans on X, the social media platform owned by Elon Musk.
Farley said that Chinese automakers are better examples of how to beat competitors. He said (via the Rapid Response Podcast):
“If you’re an American and you want us to beat the Chinese in the car business, you’re all going to want to pay attention, not necessarily to Tesla. Nothing against Tesla—they’ve been doing great—but they really don’t have an updated vehicle. The best in the business for us, cost-wise and competition-wise, supply chain, manufacturing expertise, and the I.P. in the vehicle, was really BYD. In this next cycle of EV customers in the U.S., they want pickups and utilities and all these different body styles. But they want them at $30,000, not $50,000. Like the first inning, they want them affordably.”
Despite Farley’s synopsis, it is worth mentioning that Tesla had the best-selling passenger vehicle in the world last year, and in China in March, as the Model Y continued its global dominance over other vehicles.
Musk responded to Farley’s comments by stating:
“This is before Supervised FSD is approved in China. Limiting factor is production output in Shanghai.”
This is before supervised FSD is approved in China. Limiting factor is production output in Shanghai.
— Elon Musk (@elonmusk) April 19, 2026
Interestingly, Farley has been one of the most hellbent CEOs in terms of a legacy automaker standpoint to push the EV effort. It did not go according to plan, as Ford took a $19.5 billion charge and retreated from its EV push in late 2025.
Ford cancels all-electric F-150 Lightning, announces $19.5 billion in charges
Instead, Ford is “doubling down on its affordable” EVs and said it would pivot from its previous plans.
Reaction from Tesla fans was pretty much how you would expect. Many said they have lost a lot of respect for Farley after his comments; others believe he is the last CEO anyone should be taking advice on EVs from.
Nevertheless, Farley’s plans are bold and brash; many consider Tesla the most ideal company to replicate EV efforts from. It will be interesting to see if Ford can rebound from this big adjustment, and hopefully, Farley’s plans to replicate efforts from BYD work out the way he hopes.
Elon Musk
SpaceX wins its first MARS contract but it comes with a catch
NASA awarded SpaceX a $175 million Mars rover contract while the White House proposes cutting the mission.
NASA just signed a $175.7 million contract with SpaceX to launch a Mars rover that the White House is simultaneously trying to defund. The contract, awarded on April 16, 2026, tasks SpaceX’s Falcon Heavy with launching the European Space Agency’s (ESA) Rosalind Franklin rover from Kennedy Space Center in Florida, no earlier than late 2028. It would mark the first time SpaceX has ever sent a payload to Mars.
Under NASA’s Rosalind Franklin Support and Augmentation project, known as ROSA, the agency is providing braking engines for the rover’s descent stage, radioisotope heater units that use decaying plutonium to keep the rover warm on the Martian surface, additional electronics, and a mass spectrometer instrument, as noted by SpaceNews.
Those nuclear heating units are the reason an American rocket was required at all. U.S. export controls on radioisotope technology mean any payload carrying them must launch on a domestic vehicle, which narrowed the field to SpaceX and United Launch Alliance. Falcon Heavy’s pricing made it the practical choice.
SpaceX is quietly becoming the U.S. Military’s only reliable rocket
Falcon Heavy debuted in February 2018 and has 11 launches to its record. The rocket has not flown since October 2024, when it sent NASA’s Europa Clipper toward Jupiter. The three-core design, built from modified Falcon 9 first stages, gives it the lift capacity needed for deep space planetary missions that a single Falcon 9 cannot reach.
The Rosalind Franklin rover has been sitting in storage in Europe for years. It was originally due to launch in 2022 as a joint mission with Russia, but Russia’s invasion of Ukraine ended that partnership, leaving the rover built but stranded without a launch vehicle or landing hardware. NASA stepped back in through a 2024 agreement with ESA to rescue the mission. The rover is designed to drill up to two meters below the Martian surface in search of evidence of past life, a science objective no previous mission has attempted at that depth.
The contradiction at the center of this story is hard to ignore. The White House’s fiscal year 2027 budget proposal included no funding for ROSA and did not mention the mission at all in the detailed congressional justification document released April 3.
Musk has long argued that reaching Mars is not optional. “We don’t want to be one of those single planet species, we want to be a multi-planet species.” Whether this particular mission survives Washington’s budget fight, the Falcon Heavy contract means SpaceX is now formally on record as the rocket that could get humanity’s next Mars science mission off the ground.
The timing of this contract carries extra weight given that SpaceX filed confidentially with the SEC in early April and is targeting an IPO roadshow in the week of June 8. It would be the largest public offering in history.