News
SpaceX kicks off $750M investment round as BFR and Starlink infrastructure needs grow
Reuters reports that SpaceX has moved forward with an effort to raise capital through a leveraged loan and is now circulating a debt investment opportunity 50% greater than originally reported by Bloomberg.
With the maximum capital raise now capped at $750M with Bank of America in place of Goldman Sachs as the loan guarantor, SpaceX could rapidly find itself flush with funds that will be instrumental in the completion of major infrastructure expansion projects for its Starlink satellite constellation and next-gen BFR rocket and spaceship.
SpaceX is out with price talk on its $750m loan and it's in the L+400-425 range. w/ @KristenHaunss – https://t.co/WCFlWpEhjS
— Jonathan Schwarzberg (@theschwarzberg) November 7, 2018
Particularly noteworthy is the fact that SpaceX – according to sources that spoke with Reuters – is playing their financial cards very close to the chest, presumably suggesting that interested investors are being faced with extreme secrecy over the company’s finances, assuming they are being allowed much access at all. Given how gilded and relatively exciting SpaceX is, investors may be more than willing to shrug off the inherent high-risk, high-reward nature of commercial spaceflight and swallow an unusual burden of secrecy and opaque corporate insight.
Assuming that SpaceX is able to successfully secure enough investors to raise the full $750M, this offering could mark a turning point in the way SpaceX approaches major capital expenditures, particularly at a point in time where the company is likely to imminently require massive amounts of cash to prevent major schedule delays for both Starlink and BFR. With more than two years and a full 35 successful launches separating SpaceX from their last catastrophic failure, the company’s financial outlook – at least from an external perspective – is healthier than its ever been, and the manner with which Falcon 9 has rapidly devoured a majority of the global commercial launch industry is extremely promising.
-
- An unofficial analysis of SpaceX’s first ~1600 Starlink satellites. (Mark Handley)
-
- One of the first two prototype Starlink satellites separates from Falcon 9’s upper stage, February 2018. (SpaceX)
-
- A closeup of BFS’ nose section, featuring impressively varied tile-sizes, joining methods, and extremely precise curves on the interface between canard wings and the hull. (SpaceX)
-
- SpaceX’s BFR mandrel, a tool used to form the rocket’s largest composite structures. (SpaceX)
Further, SpaceX hopes to lower the average cost of rocket launches by at least one or two magnitudes with the introduction and optimization of the next-gen BFR rocket, while its prospective Starlink satellite constellation has the potential to disrupt an unbelievably vast and stagnant global communications market. In order to even begin to make either or both aspirations real, SpaceX will need to construct wholly new production, test, and launch facilities capable of manufacturing an unprecedented number of satellites (between ~4400 and ~12000) and supporting what would be the largest and most advanced commercial rocket ever built.
Altogether, these many towering challenges will demand major investments in infrastructure with no real guarantee of returns. If the market will bear it (and it seems to be more than willing), leveraged loans – essentially debt equity backed by large banks or institutions – is one of the best possible ways to raise large amounts of money for risky prospects, particularly for a company as successful and glamorous as SpaceX. With any luck, investors will be luxuriously rewarded for going out on a relative limb.
For prompt updates, on-the-ground perspectives, and unique glimpses of SpaceX’s rocket recovery fleet, check out our brand new LaunchPad and LandingZone newsletters!
Lifestyle
NTSB findings on fatal Tesla crash tell a very different story
The NTSB confirmed the driver, not Tesla’s FSD, caused the fatal Texas house crash.
The National Transportation Safety Board released preliminary findings Wednesday confirming that a Tesla driver, not the vehicle’s software, caused a fatal crash in Katy, Texas in June. The driver, 44-year-old Michael Butler, had engaged Full Self-Driving Supervised mode on Rose Hollow Lane, a residential street with a 30 mph speed limit, before manually overriding the system by pressing the accelerator pedal all the way to 100%. Data recovered from the 2025 Tesla Model 3 showed the vehicle was traveling over 70 miles per hour when it struck a home and killed 76-year-old Martha Avila, who was inside. Weather was clear, the road was dry, and it was daylight.
Texas man charged in fatal Tesla crash where he blamed Autopilot
Butler told authorities he had passed out at the wheel. But security camera footage obtained by the NTSB told a different story, and showed the car accelerating through an intersection before leaving the road entirely. Police also found that Butler’s phone had Google searches including the terms “Tesla FSD not aggressive enough 2026” and “Tesla FSD too timid,” raising serious questions about how he was using the system before the crash. Butler has since been charged with manslaughter. The victim’s family has filed a lawsuit against both Butler and Tesla, alleging negligence.
The NTSB findings aligned directly with what Tesla VP of AI Software Ashok Elluswamy had already stated publicly on X in the weeks after the crash, writing that “the driver manually overrode self-driving by pressing the accelerator all the way to 100%.” The data confirmed his account.
Yup. In this case, the driver manually overrode self-driving by pressing the accelerator all the way to 100% of the accel pedal in this residential area. They reached a speed of 73 mph during the crash, and had the accelerator pressed even after the crash.
— Ashok Elluswamy (@aelluswamy) June 22, 2026
Lucid CEO Silvio Napoli responded to rumors of an imminent bankruptcy that was reportedly being mulled after a report stated the automaker was working with the firm AlixPartners to iron out its next steps.
The company felt a massive loss on Wall Street yesterday, as the report essentially pushed the stock down as much as 55 percent on Tuesday.
The report, published initially by Eletric-Vehicles.com, claimed Lucid was essentially in dire straits and was told by AlixPartners, a commonly used restructuring advisor, to either take shares private or file for Chapter 11 bankruptcy protection.
Lucid’s head of Communications, Nick Twork, immediately challenged the report and stated the company “has sufficient liquidity to carry its operations well into next year.”
Now, the company’s CEO is chiming in as well, stating that the report is “so far from the facts that they require a direct response.”
Napoli said:
“Lucid is not considering bankruptcy or a transaction to take the company private. Those reports are false. The Board did not explore either scenario. Period.
As disclosed in our most recent quarterly filing, Lucid has sufficient liquidity to fund its operations well into next year.
We work with outside advisors to improve operational performance and execution. They are not advising Lucid on a take-private transaction or bankruptcy, and any suggestion that they have recommended either course of action to management or the Board is false.
My priority is clear: turn this company around. That is where the leadership team and I are focused.
I look forward to providing a full update during our quarterly earnings call on August 4th.”
🚨 Lucid CEO Silvio Napoli calls rumors of financial issues “so far from the facts that they require a direct response.”
Read his full remarks here: https://t.co/t3Pg1NHvzy pic.twitter.com/LvHUPhO4Qf
— TESLARATI (@Teslarati) July 15, 2026
It seems pretty clear that Lucid is confident things will be okay, and, to be honest, they should not have much to worry about, especially considering the company has been backed by the Saudi Public Investment Fund (PIF) for years. It has solid financial backing, and its sales, while weak, are pretty much right on par with a company of this age.
Lucid also sent a Cease & Desist letter to the publication for their report.
Lucid shares have rebounded nicely and are up nearly 21 percent at the time of publication. As soon as the company dispelled the rumors of bankruptcy yesterday, the stock began to climb back toward more reasonable levels.
Tesla has once again demonstrated strong customer focus by swiftly addressing and fully refunding a bizarre Supercharger pricing glitch that affected drivers in Atlantic Canada.
The issue surfaced earlier this month when the Tesla app began displaying dramatically inflated per-minute charging rates at stations in Prince Edward Island and parts of New Brunswick.
One widely shared screenshot from a Charlottetown, PEI Supercharger showed rates reaching ridiculous levels: $6.00 per minute for the 180-250 kW tier, along with $3.57/min for 100-180 kW and $2.29/min for 60-100 kW.
Correct pricing will be going live at midnight tonight. All fees since July 2nd 2026 will be waived.
— Tesla Charging (@TeslaCharging) July 13, 2026
These figures were several times higher than normal Supercharger pricing in the region.
To put the error in perspective, charging at the highest incorrect rate would have been shockingly expensive.
At 250 kW, a common charging speed at Superchargers, a vehicle pulls roughly 4.17 kWh per minute. Under the glitch, a driver spending just 10 minutes at peak power would face a $60 bill. A typical 20- to 30-minute session to add meaningful range could have cost $120 to $180 or more, before any congestion fees.
Tesla gets another layer of gamification with Free Supercharging on the line
By comparison, standard Canadian Supercharger rates usually fall between $0.25 and $0.60 per kWh, making a similar session cost roughly $15–$40. The erroneous per-minute structure, combined with the inflated numbers, turned what should be a convenient stop into a potential financial shock.
The glitch appears to have started sometime around early July, and quickly drew attention on social media as owners questioned whether Tesla had implemented steep hidden increases. Some drivers even reported seeing $0 charges in their history, indicating broader billing confusion.
Tesla’s official Charging account on X stated that correct pricing would roll out at midnight on July 13, so the fix is already in effect. More importantly, the company announced it would waive all fees for every Supercharger session since July 2. This blanket waiver covers the entire affected period without requiring users to file individual claims, with automated refunds expected soon. The decision affects stations in PEI and nearby areas in New Brunswick and Nova Scotia.
It’s a classy move, and rather than issuing partial credits or forcing owners to submit support tickets, Tesla simply absorbed the cost of the system error and made drivers whole. In an industry where hidden fees and bill disputes are common, Tesla’s proactive, no-questions-asked approach reinforces owner trust and highlights the company’s commitment to service excellence.
The incident, while disruptive for a short time, ultimately showcases Tesla’s ability to own mistakes and prioritize customer satisfaction. Atlantic Canada Tesla owners can now charge with confidence again, knowing the company has their back when technology glitches occur.
In an era of complex EV billing, such transparency and generosity are refreshing and set a positive example for the industry.
NTSB findings on fatal Tesla crash tell a very different story
Elon Musk’s Texas ranch to showcase the lifelong work that changed the world
