News
SpaceX gears up for busy year of Falcon Heavy launches
SpaceX is targeting no earlier than January 12th for the fifth launch of Falcon Heavy, the largest and most powerful commercial rocket in the world.
As was the case for the rocket’s third and fourth launches, the main customer behind its fifth launch is the US military. Deemed USSF-67, the mission is also expected to be very similar to Falcon Heavy’s most recent launch, USSF-44. That mission saw the massive SpaceX rocket complete its first direct launch to a geosynchronous orbit ~36,000 kilometers (~22,250 mi) above Earth’s surface, where it deployed a pair of spacecraft carrying several rideshare payloads and satellites. Save for the possibility that the US Space Force included secret payloads on USSF-44, the mission appeared to be more of a rocket test and loose collection of experiments than a major military launch.
USSF-67 will likely be similar. According to the US Space Systems Command (SSC), USSF-67 – like USSF-44 – will carry an Aerojet Rocketdyne Long Duration Propulsive EELV (LPDE) spacecraft as a main payload. Aboard LPDE-3A, which is essentially a satellite without a payload, various stakeholders will install an unknown number of experiments, instruments, and smaller satellites that can be activated or deployed once in orbit. The SSC says [PDF] that “LDPE provides critical data to inform future Space Force programs” and that “the unique experiments and prototype payloads hosted on LDPE-3A [will] advance warfighting capabilities in the areas of on-orbit threat assessment, space hazard detection, and space domain awareness.”
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
The mission will be Falcon Heavy’s second launch since June 2019 and is scheduled to lift off 72 days after the rocket’s USSF-44 launch, which finally ended its unplanned 1225-day hiatus. The schedule is reminiscent of 2019, when SpaceX launched its second and third Falcon Heavy rockets 75 days apart. The second of those two missions (STP-2) was primarily a test flight for the US Air Force (now the Space Force) meant to both push Falcon Heavy to its limits with a complex trajectory and demonstrate Falcon booster reusability. To accomplish the latter goal, STP-2 reused two of the three Falcon Heavy boosters that supported the rocket’s Arabsat 6A communications satellite launch two months prior. USSF-67 will also reuse both of USSF-44’s Falcon Heavy side boosters.
STP-2 was ultimately a near-flawless success, but endless payload delays left Falcon Heavy with nothing to launch for more than three years. Following its return to flight in late 2022, Falcon Heavy may finally be able to properly stretch its wings in 2023. Of course, this isn’t the first time that’s appeared to be the case. In February 2021, there were many signs that SpaceX was preparing to launch Falcon Heavy in mid-2021. And in late 2021, there were strong signs that SpaceX customers were on track for up to five Falcon Heavy launches in 2022.
Now, for the second time, there are five Falcon Heavy rockets tentatively scheduled to launch this year (2023). But the situation is not identical. Numerous long-delayed payloads like the first ViaSat-3 and Jupiter-3 satellites and the US military’s mysterious USSF-67 and USSF-52 spacecraft are finally on the cusp of crossing their respective finish lines. NASA’s Psyche asteroid explorer spacecraft has also survived a continuation review after running into major software issues that precluded a 2022 launch attempt. And Falcon Heavy finally launched USSF-44 – a chronically delayed mission – in November 2022.
Additionally, four of those five Falcon Heavy launches are tentatively scheduled in the first half of 2023, leaving plenty of margin for major delays in the second half of the year. But until ViaSat-3, Jupiter-3, and USSF-52 actually arrive in Florida and until NASA explicitly confirms that Psyche’s technical issues are resolved, any launch targets should be treated with extreme skepticism.
USSF-67 is thankfully much less uncertain. Like Arabsat 6A and STP-2, USSF-67 will reuse both of the Falcon Heavy side boosters recovered after USSF-44. Mirroring USSF-44, SpaceX will also intentionally expend Falcon Heavy’s new center booster to launch USSF-67 directly to geosynchronous orbit. Most importantly, LPDE-3A – the only confirmed USSF-67 payload – arrived in Florida in November 2022. USSF-67 prelaunch operations are currently running a day or two behind schedule relative to USSF-44, but all evidence indicates that the mission is on track to launch sometime in January 2023.
-
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.
News
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
