News
SpaceX nails first Starship landing weeks after NASA Moon lander contract [updated]
Update: For the first time ever, SpaceX has successfully landed a Starship prototype in one piece and kept the giant steel rocket intact throughout the post-flight safing process. The fun, however, is just beginning.
First and foremost, excluding simpler Starship prototypes SN5 and SN6, Starship SN15 is the first prototype to actually complete that safing process. In theory, safing a liquid fuel rocket is a fairly novel task given so few rockets are actually reusable. It involves detanking, purging plumbing and Raptor engines, deactivating explosive flight termination system (FTS) charges, and more generally verifying the health and status of all systems. With a rocket as complex as Starship, SpaceX is treading new ground with almost every step, meaning that even something as seemingly benign as keeping a rocket intact after a successful landing carries risk (e.g. SN10).
SN5 and SN6 also had a rough go of things even after surviving their landings and it took anywhere from 12 to 24+ hours before SpaceX declared either vehicle safe to approach. The degree to which Starship SN15’s launch and landing was a success is hinted at by the fact that SpaceX had teams approaching the rocket less than four hours after touchdown. Still, more than six hours after landing, those SpaceX teams were still working to transport a crane to the site after rolling a self-propelled modular transporter (SPMT) within the vicinity of Starship SN15.
Eventually, that crane will lift SN15 onto a custom jig installed on said SPMT and take its flimsy, unreliable legs out of the equation. At that point, the Starship prototype will well and truly be safe and secure and ready for whatever else SpaceX may have in store, be that a quiet future as a permanent display or the program’s first reuse. Stay tuned for updates as SpaceX secures the historic rocket and prepares to reopen the highway to the public.
In perhaps the best possible news that could have followed NASA’s historic SpaceX Moon lander contract, the company has successfully landed a Starship prototype in one piece – without it exploding – for the first time ever.
In spite of unusually unreliable live views from the rocket’s onboard cameras, possible due to SpaceX using Starlink as a Starship antenna for the first time, Starship serial number 15 (SN15) touched down at the very edge of the landing pad a bit less than seven minutes after lifting off from SpaceX’s Boca Chica launch facilities.
Like all four of its predecessors, Starship SN15 ignited all three of its Raptor engines and gradually ascended to an altitude of ~10 km (6.2 mi), shutting down one engine every 90 or so seconds along the way. At apogee, after briefly hovering under the power of one engine, the last Raptor cut off and Starship angled over onto its belly and simply fell back to Earth.
-
Using four large steel ‘flaps,’ the rocket controlled its descent like a skydiver down to approximately 500m (~2000 ft) above the ground and ignited two or three of its Raptors to aggressively flip into a tail-down orientation. SN15 then slowed all the way down under the thrust of two of those engines for an exceptionally soft – albeit inaccurate – landing on a concrete pad.
Much like SN10, which caught on fire shortly before touchdown, landed intact, and then exploded after that fire continued to burn, Starship SN15 appeared to catch fire shortly after landing and a significant fire burned for at least five minutes before disappearing. As a result, be it intentional on behalf of SpaceX or simple luck, SN15 did not explode after touchdown. The Starship also landed far more gently than Starship SN10, which effectively pancaked its tiny legs and embedded its skirt directly into concrete.
Ultimately, Starship SN15’s fully successful launch and landing is an immense achievement after four failed – but data-rich – attempts and confirms that SpaceX is on the right track. Perhaps even more importantly, the success is quite possibly the best conceivable vindication for NASA after the space agency made the shocking decision to return humanity to the Moon with SpaceX’s Starship.
In a new note to investors on Tuesday, Morgan Stanley analyst Andrew Percoco said that Tesla has one big financial question to answer for investors regarding its Robotaxi rollout, Full Self-Driving software, and Optimus.
Percoco said in the note that, for the most part, investors are still very positive about the direction the company is headed. However, there are some things the firm would like to see, and they have to do with financials.
Tesla (TSLA) Q2 2026 earnings results: miss on EPS, beat on revenue
Tesla bulls are more than convinced that the company’s Full Self-Driving software is proof it can develop physical AI. Financially, however, there are still some questions, especially on elevated spending, which CEO Elon Musk said would occur as the company works to roll out Robotaxi faster and continue developing its Optimus robot.
The latter two are where Tesla will have to prove progress to investors, as Percoco writes that both projects “will require clearer evidence that Robotaxi is scaling and more tangible Optimus proof points to support the ROI on elevated capex.”
Percoco said the second quarter earnings call did not change his long-term thesis of where Tesla is positioned in the AI race, which is out in front. However, there are concerns that weaker gross margins and higher R&D spend will stress financials, and that has “sharpened our (and investors’) focus on measurable progress across Robotaxi and Optimus.”
Additionally, Robotaxi still needs to be proven with more operation in existing cities while maintaining safety but improving how many rides it gives in any given time, he said. For Optimus, Percoco wrote that he is “still looking for evidence beyond commentary around SOP.”
Morgan Stanley put Percoco in charge of covering Tesla after long-time analyst Adam Jonas transitioned to the automotive side.
Currently, Morgan Stanley has a $415 price target on Tesla and a ‘Hold’ rating on the stock. It is trading at around $330 at the time of publication, which was 2:30 P.M. on the East Coast.
SpaceX’s massive investment in AI will make it a big winner, Argus Research said after the company’s successful earnings call last week.
The firm also upgraded shares to a Buy from Hold and set a $160 price target.
SpaceX (NASDAQ: SPCX) is currently recovering from its heavy AI infrastructure investments, as it spent nearly $16 billion in Q2 alone. The company did this primarily by monetizing high-demand GPU compute capacity at a much faster pace than traditional data center economics would suggest.
Company CFO Bret Johnsen said that SpaceX would be able to pay back anything on new deployments within a year.
There are plenty of ways the company can do this:
Leasing excess compute capacity through contracts
SpaceX has already built Colossus and Colossus II, largely for its own model training. However, much of that capacity is already rented out to third parties. It already has major deals with Anthropic, Google, and Reflection AI. These partnerships are adding billions per month to SpaceX’s spreadsheet.
High utilization driven by industry-wide scarcity
The demand for advanced AI training and inference capacity continues to exceed what is available for use. SpaceX can fill new racks quickly after they come online, so the capital deployed converts into revenue with minimal idle time.
Additionally, management and outside observers have described the new compute capital as behaving more like a cost-of-goods-sold than traditional multi-year capex, especially because of this rapid monetization pattern.
Capacity has already scaled from ~0.4 GW a year to 1.4 GW annually by the end of Q2. There are targets of more than 2 GW by year-end.
High incremental margins on the rental business once capacity is online
GPU cloud providers often operate at strong gross margins. SpaceX can monetize capacity that was already partially built or can be added efficiently. This means that incremental EBITDA margins on the rental revenue are usually high. This accelerates cash recovery relative to the gross capital outlay.
Parallel monetization of its own AI software and applications
Beyond pure infrastructure rental, SpaceX also generates revenue from Grok through subscriptions and usage, from X through ads, data, and other related services, enterprise APIs, and the planned integration of the Cursor coding tools acquisition.
These application layers ride on the same compute infrastructure and provide additional high-margin streams that could offset build-out costs. AI-segment revenue overall rose sharply to about $2.6 billion in Q2, according to Motley Fool. This was driven primarily by the infrastructure contracts, but the software side is also partially responsible.
Efficient, large-scale deployment and vertical integration advantages
SpaceX has emphasized the rapid construction of power and cooling infrastructure and favorable cost-per-megawatt economics relative to industry benchmarks in some disclosures.
Combined with its ability to scale capacity aggressively and the fact that many contracts start generating revenue within months of capacity coming online, the effective payback compresses dramatically compared with more conventional multi-year data-center projects.
SpaceX’s dominant near-term recovery path will turn the AI clusters into a hyperscale-style compute rental business for other leading AI companies while still using a portion for internal models.
Tesla headlights have caused a recall of over 20,000 of the company’s two most popular vehicles, the Model 3 and Model Y, due to the low-beam bulb exceeding the maximum allowed intensity according to federal standards.
Tesla initiated the recall with the National Highway Traffic Safety Administration (NHTSA) this morning, stating that the low-beam output “exceeds the maximum allowed intensity in the outer upper-right and outer upper-left areas of the 10U and 90U zone, as prescribed in FMVSS No. 108.”
Tesla sourced the impacted headlights from Marelli Automotive Lighting, a Mexico-based company. The recall impacts 2020-2023 Model Y vehicles and 2017-2023 Model 3 vehicles. It is estimated that every VIN in this recall is impacted by the defect.
🚨 Tesla is recalling 20,349 2020-23 Model Y vehicles and 2017-23 Model 3 vehicles due to an excessively bright headlamp low beam.
Currently, there is no remedy plan in place, as it is still being developed. pic.twitter.com/y34cIO2U0B
— TESLARATI (@Teslarati) August 11, 2026
Typically, Tesla would remedy recalls of this nature through an Over-the-Air software update, which has been a major focus of criticism by the company and its supporters because the NHTSA still refers to it as a “recall,” even though it requires no action by the vehicle owner. The fix is shipped over the internet and downloaded to the car.
However, there appears to be a potentially different solution for this problem. Tesla has not developed a remedy for this issue, so it could potentially be on the way. The big issue appears to be the fact that these recalled lamps are out of production, and this is an old body style for both vehicles. The headlights and front-end designs are completely different.
Tesla switched to another supplier when the affected headlight design was discontinued. It plans to begin notifying owners of their remedy options by September 15.
Tesla filed a petition protesting the recall to fix the vehicles’ headlight issue, but the NHTSA denied it. Now, Tesla will come up with a solution to fix it.
Tesla has one big financial question to answer for investors: Morgan Stanley
SpaceX AI investment gamble will make it a big winner, firm says
