News
SpaceX Mars rocket test site receives first huge rocket propellant storage tank
SpaceX has delivered one of the first undeniably rocketry-related pieces of hardware to its prospective Boca Chica test and launch facility in South Texas, this time in the form of a massive 100,000-gallon liquid oxygen tank now stationed adjacent to the company’s ~600 kW Tesla solar and battery array.
In a statement provided to local paper Valley Morning Star, SpaceX spokesperson Sean Pitt filled in a few of the details and confirmed that the LOX tank had been delivered to Boca Chica as part of an ongoing effort to ready the site for initial testing – and eventually launches – of an unspecified “vehicle”
“Delivery of a new liquid oxygen tank, which will be used to support propellant-loading operations during launch and vehicle tests, represents the latest major piece of launch hardware to arrive at the [South Texas] site for installation.” – SpaceX
The official SpaceX statement may not have explicitly stated that the aforementioned “vehicle” was something other than Falcon 9 or Heavy, but it can be all but guaranteed that the testing and launching described refers to the company’s next-generation Mars rocket, a completely reusable architecture known as BFR.
An immense liquid oxygen (LOX) tank just arrived at @SpaceX's prospective Boca Chica, TX facility, likely to be dedicated to BFR & BFS testing. @NASASpaceflight forum user "Nomadd" caught some of the first detailed photos, as well as the tank's arrival at SpaceX land on July 11. pic.twitter.com/hr7SeA6BGw
— Eric Ralph (@13ericralph31) July 12, 2018
A slow burn in South Texas
Over the past 6-9 months, SpaceX CEO Elon Musk and President/COO Gwynne Shotwell have repeatedly spoken on the subject of SpaceX’s South Texas ambitions, lending unambiguous credence to the idea that the Boca Chica rocket facility will be almost exclusively dedicated to testing BFR’s first flightworthy spaceship prototypes, beginning with a series of familiar suborbital “hops”.
- Artist David Romax’s jaw-dropping rendition of a BFR burning to Mars orbit. The craft’s various curves and hull complexities will likely rely on cutting-edge composite joining tech to function. (Gravitation Innovation)
- SpaceX may well already be fabricating propellant tanks and structural components for the first Mars spaceship prototype in a giant tent at Port of San Pedro. July 1st. (Pauline Acalin)
- An overview of SpaceX’s Port of LA tent, April 2018. While not confirmed, SpaceX seems to intend to begin early BFR prototype construction at the temporary facility. (Pauline Acalin)
In the early days of SpaceX’s Falcon 9 reusability program, the company completed several different phases of short flights (“hops”, hence the Grasshopper label) of a development version of a Falcon 9 booster, ranging from purely vertical jaunts just above the pad to 1000+ meter cross-range maneuvers, tests that ultimately culminated in SpaceX’s extraordinarily reliable Falcon 9 and Heavy booster recovery capabilities. Something similar – albeit somewhat more ambitious – is planned for BFR, starting with a prototype of the upper stage (spaceship). Musk described these plans in more detail in an October 2017 Reddit AMA:
Will we see BFS hops or smaller test vehicles similar to Grasshopper/F9R-Dev?
A (Elon): A lot. Will be starting with a full-scale Ship doing short hops of a few hundred kilometers altitude and lateral distance. Those are fairly easy on the vehicle, as no heat shield is needed, we can have a large amount of reserve propellant and don’t need the high area ratio, deep space Raptor engines.
Speaking a bit less than five months later after the stunningly successful debut of Falcon Heavy, Musk expanded further on the BFR test program, reiterating that spaceship hop testing would “most likely … happen at our Brownsville [South Texas] location,” perhaps as early as 2019.
“We’ll do flights of increasing complexity. We really want to test the heat shield material… like fly out, turn around, accelerate back real hard, and come in hot to test the heat shield.”
- Blue Origin’s New Glenn LOX and liquid methane (LNG) propellant tanks, looking suspiciously identical to the SpaceX tank that just arrived in Boca Chica. It’s likely that both companies are using the same contractor. (Blue Origin)
- Captured by NASASpaceflight user nomadd before it arrived in Boca Chica, the storage tank is clearly vacuum-insulated. (NASASpaceflight /u/nomadd)
- An immense liquid oxygen (LOX) tank arriving at SpaceX’s prospective Boca Chica BFR testing facility, July 11th. (NASASpaceflight.com /u/Nomadd)
Musk also noted that he expected the first full-up orbital launch with both the Booster (BFB) and Spaceship (BFS) could happen as soon as 2021 or 2022. Shotwell, on the other hand, stated in early 2018 and again more recently that she believed BFR could begin its first orbital test missions as early as 2020, an extraordinarily rare moment where the typically pragmatic executive appeared to be more confident than Musk, often lambasted for his reliably over-optimistic timelines. About a month later, Musk’s comments were much more closely aligned with Shotwell’s BFR timeline estimates, and he enthusiastically said that that spaceship hop tests would likely begin within the first half of 2019.
The unambiguous arrival of a rocket propellant storage tank – confirmed officially by SpaceX – strongly suggests that activity is about to seriously pick up speed in Boca Chica for the first time in a year and a half, paving the way for full-scale hop tests of the first Mars spaceship prototype perhaps less than a year from today. Stay tuned…
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Investor's Corner
SpaceX reports beat in first earnings while minimizing losses
SpaceX (NASDAQ: SPCX) reported a beat in revenues and EBITDA in its first earnings call report while also minimizing losses as its business continues to gain momentum.
After its IPO in July, SpaceX saw some tough losses on Wall Street due to a major selloff after a delay in its 13th Starship test flight. The ship launched later that week and completed what was arguably the most successful IFT operation in the Starship program’s history.
Nevertheless, the company is continuing on and reported some encouraging financials while also promoting what appears to be a robust outlook moving forward in its Space, AI, and Connectivity divisions.
SpaceX to report first-ever earnings today: here’s what to expect
Earnings Results
- Revenues: $7.8 billion reported vs. $6.7 billion expected
- Adjusted EBITDA: $3.5 billion vs. $2 billion expected
- Net loss of $541 million, an improvement of $467 million from net loss of $1.0 billion
Additionally, CFO Bret Johnsen had these comments:
“2026 has been a momentous year so far, and the second quarter demonstrated the true power of SpaceX. Revenue growth accelerated across all our business segments and we delivered strong operating leverage, with significant margin expansion led by our new AI compute agreements. Our unparalleled leadership in launch, Starlink subscriber growth, new enterprise and government partnerships, and best-in-class AI infrastructure underscore our ability to drive meaningful scale and deliver attractive returns. As a newly public company, we are delighted to welcome our broad base of shareholders and bondholders. We ended the second quarter with $100 billion of cash, cash equivalents, and marketable securities, and $47.5 billion in backlog. This financial strength gives us substantial capacity to invest in Starship, Starlink Broadband and Mobile satellites, and our AI platform, while maintaining a disciplined long-term capital allocation framework.”
Space Business Highlights
SpaceX shared some of its biggest Space Business Highlights for Q2:
- Space revenues grew 55% sequentially and 29% year-over-year to $962 million, driven by a higher number of large customer launches and a favorable customer shift compared to the prior year
- Total costs and expenses for the Space segment were up by $389 million year-over-year, as we continued to accelerate R&D investments in our Starship program, which we believe will reduce the cost to orbit by 99% or more relative to the historical average, and unlock significant revenue potential across all business segments
- Leading launch provider for the world with 78 launches and 1,041 metric tons of mass to orbit deployed over the six months ended June 30, 2026, primarily allocated to Connectivity for the deployment of our Starlink constellation
- Starship V3 development continued to advance towards full and rapid reusability:
- Completed Starship V3’s first suborbital mission in May, Flight 12, which achieved a successful lift off from our new Starbase pad, a precision landing of Starship’s upper stage, and deployment of modified V2 Starlink satellites
- Subsequent to the second quarter, completed Starship Flight 13 in July, which achieved all flight objectives including deploying 20 production V3 satellites, demonstrating in-space relight of a Raptor engine, and executing the softest ever splashdown of Starship, providing critical views of an intact heatshield
SpaceX will report its earnings today at 4:30 P.M. EDT.
Elon Musk
Elon Musk sends second warning to SpaceX shorts ahead of first earnings
Elon Musk issued a second pointed warning to SpaceX short sellers on Tuesday, just hours before the company was set to release its first quarterly earnings as a publicly traded firm. Responding to a report highlighting elevated short interest, Musk wrote on X: “I try to warn them, but they just double down …”
The comment came as data from S3 Partners showed roughly 95 percent of available SPCX shares to borrow were on loan, translating to about 34 percent short interest as a percentage of the float. The stock has traded under pressure since its record-breaking IPO in June 2026, declining significantly from early peaks.
I try to warn them, but they just double down … 🤷♂️
— Elon Musk (@elonmusk) August 4, 2026
This marks the second such message from Musk in under three weeks.
On July 17, amid post-IPO volatility, he stated: “The survival probability of firms who maintain a significant short position in SpaceX over time is very low.” At that time, SPCX had fallen roughly 30 percent from its peak above a $2.6 trillion valuation, with short sellers reportedly realizing gains of about $8.7 billion.
Musk’s warning aligned with optimistic analyses projecting that Starship-driven cost reductions could enable a multi-trillion-dollar space economy through applications such as orbital solar power, asteroid mining, data centers, and Mars-related projects, positioning SpaceX as critical infrastructure.
SpaceX is scheduled to report second-quarter results after the market close later today, followed by a webcast. Analysts anticipate revenue near $6.9 billion, reflecting growth in Starlink, launch services, and AI-related segments. The earnings release precedes a major lockup expiration on August 6 that could free hundreds of millions of insider shares.
Musk has a long track record of confronting short sellers, particularly regarding Tesla, where he has argued that persistent bearish positions underestimate transformative technologies. Critics view his optimism as overly ambitious given near-term stock fluctuations, while supporters see temporary dips as opportunities in a longer-term expansion of the space economy.
As SpaceX opens its books to public scrutiny for the first time, the high short interest and Musk’s repeated cautions set the stage for heightened market attention on the results and management’s commentary.
News
Tesla’s AI lead doubles down on FSD’s speed strategy, and owners are confused
Tesla’s AI lead Ashok Elluswamy doubled down on the company’s strategy regarding Full Self-Driving’s speed settings, and owners are definitely confused.
Earlier versions of Full Self-Driving allowed owners to set a max speed that the vehicle could travel while operating under the semi-autonomous driver assistance platform. This allowed more customization for the driver, giving them the ability to experience FSD’s robust performance with their own personal preferences.
Speed is massively important for obvious reasons — it’s not only a question of keeping the vehicle occupants comfortable by traveling at a safe speed, but it’s also something that could contribute to a ticket or infraction from law enforcement.
With the release of FSD v14 last year, Tesla removed the ability to set a max speed and instead opted for five Speed Profiles, ranging from “Sloth,” the most conservative, to “Mad Max,” the most aggressive and spirited. These profiles not only control speed, but also how frequently the vehicle will execute passes, perform lane changes, and other contributing factors.
The removal of the Max Speed setting was a major complaint amongst the Tesla community because it left owners scrambling for a way to experience suitable behaviors while traveling at an appropriate speed. Most felt the driving profiles would be a good indicator of the behaviors, while speed would still be left up to the discretion of the driver.
Instead, Tesla’s Speed Profiles determine both, and the constant tinkering of how they behave has been a major bottleneck and point of confusion for both owners and the company. From update to update, the Speed Profiles will change, sometimes more drastically than others. Some owners have complained that the “Standard” profile is too fast, while others have experienced “Mad Max” traveling below the speed limit:
What has happened to Mad Max?
At one point it was going 32 in a 35. Traffic ahead had pulled away considerably https://t.co/bjKvaMVTNX pic.twitter.com/aaZSWmLu5v
— TESLARATI (@Teslarati) January 24, 2026
These things change with each update, but the big complaint is that owners are on the hook for any tickets that come from FSD’s infractions; that’s the caveat of the suite being named FSD (Supervised). It ultimately means the driver is responsible, and the automaker has no liability when it comes to speeding tickets or general traffic infractions.
It is the driver’s responsibility to take over or adjust based on this.
Elluswamy essentially confirmed that there are no plans to bring back Max Speed control, because it is what he referred to as “an anti pattern.” He then echoed something that CEO Elon Musk has started to really push with FSD, and that’s the idea that Tesla is really honing in on the preferences of the driver.
Max speed control is an anti pattern.
We are working on better learning of user’s implied preferences.
— Ashok Elluswamy (@aelluswamy) August 3, 2026
Owners were confused by Tesla’s decision, stating that there must be a better way, especially considering disengagements for incorrect speeds are common:
This…. is not the way
— Kyle Conner (@itskyleconner) August 4, 2026
😭 I appreciate this mentality ! But currently the no.1 reason I disengage in Australia is incorrect speed zones.
— Ryan’s Model Y (@ryanjaycowan) August 3, 2026
This is fine but you need to start accepting liability for speeding tickets then. https://t.co/lyCgdA83gQ
— Jeremy Judkins (@jeremyjudkins_) August 4, 2026
Okay https://t.co/nOvoXQkNg1 pic.twitter.com/jGRtF2xtox
— Chad Moran (@ChadMoran) August 3, 2026
From personal experience and using FSD for over 72 percent of my driving miles since v14 was released late last year, I make Speed Profile adjustments constantly. If FSD is traveling a tad too quickly, I will scale it back, and if it’s too conservative, I’ll make it more aggressive.
I don’t complain about making the Speed Profile changes too frequently, but it would certainly be nice to have it happen less frequently. There are far too many times I am concerned about getting a ticket, even in Standard mode.
The biggest issue for me, personally, which seems to be echoed throughout the community, is the fact that Tesla’s goal is to minimize disengagements. Many drivers are stating that speed is a major reason for disengagements.
However, Tesla is not willing to bring back this one level of input because it would technically be a regression.
Whether it’s right or wrong in your opinion, it is what Tesla is going with, and it seems like it has pivoted quite a bit from its other strategies for minimizing interventions by pushing its AI to behave in a way that would fit the occupant’s personal preferences.







