News
SpaceX & Boring Co. engineers are flying to Thailand to assess options for rescue efforts
In a recent update on Twitter, Elon Musk stated that engineers from SpaceX and The Boring Company would be flying to Thailand tomorrow to assess how to best help the Thai government in its rescue efforts for the stranded soccer players in the Tham Luang Nang Non cave complex.
Musk’s recent statements come as a response to updates posted by James Yenbamroong, an entrepreneur and founder of mu Space Corp, who stated that SpaceX engineers had already reached out in an attempt to connect with the Thai government. Government officials are currently looking into three plans to rescue the 12 stranded children and their coach. Among these involve teaching the young soccer players to dive, draining the caves of water to make extraction easier, and drilling a hole from the surface to provide a way out.
SpaceX & Boring Co engineers headed to Thailand tomorrow to see if we can be helpful to govt. There are probably many complexities that are hard to appreciate without being there in person.
— Elon Musk (@elonmusk) July 6, 2018
Yesterday, Musk offered to dropship Tesla Powerpacks and water pumps on the site of the rescue efforts to help in draining the caves. Musk also offered technology from The Boring Company as a means to help with the Thai government’s third rescue option. Among the most challenging portions of the cave, however, is a 70cm cross-section located about 3.1 miles away from the stranded soccer team, which gives trouble to the water pumps. The Thai government also expressed some reservations about the idea of digging a hole to reach the children and their coach, considering that the air pocket where the group is currently located is half a mile underground.
In a series of tweets today, Musk threw some ideas that could work to help in draining the caves and retrieving the children. According to Musk, it might be worth looking into the idea of inserting a 1-meter diameter nylon tube through the cave network that could be inflated with air “like a bouncy castle.” This would create an air tunnel underwater against the cave roof and auto-conform to odd shapes in the network including the tricky 70cm cross-section. Velcro slits at the ends of the tubes, as well as a continuous air feed, would allow the tube to remain inflated. According to Musk, this particular solution would require little power since that the work done is low.
A map of the cave system where the members of the Thai Wild Boar soccer team are located. [Credit: James Yenbamroong/Twitter]
The Wild Boar Soccer Team entered the Tham Luang Nang Non cave complex last June 23. Due to the monsoon rains, however, the team, comprised of children aged 11-15, as well as their 25-year-old coach, were forced to take shelter in an air pocket 2.5 miles away from the entrance to the caves. The team was located by two British divers last Monday, and since then, the children have been supplied with much-needed food and other survival supplies. Thai Navy SEAL divers, including a doctor and a nurse, also stayed with the soccer team on Tuesday.
The ongoing rescue efforts have taken a toll on the rescuers themselves. As noted by The Guardian, Saman Kunan, a former Navy Seal diver who opted to assist in the rescue, recently died while volunteering in the caves. Kunan was found unconscious in the caves after he transported tanks from the caves’ third chamber. First aid was attempted by his colleagues on site, but efforts to revive him were ultimately unsuccessful.
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Tesla is no stranger to humanitarian efforts. The company has responded to Puerto Rico’s call for help in reviving its battered power system after Hurricane Maria. Tesla was also pivotal in providing power for the first time to a town in the Philippines that has never experienced a constant power supply in its history.
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Investor's Corner
SpaceX and Nvidia team up on Musk’s orbital AI bet
SpaceX revealed a new Nvidia satellite partnership, then Musk pledged an exclusive Nvidia hardware commitment.
SpaceX and Nvidia are now working together on the hardware that will power Musk’s orbital data center ambitions. SpaceX announced on X on Tuesday that it is partnering with Nvidia to design the compute payload for Starmind AI1, the first satellite in a planned constellation built to run AI workloads directly in orbit. Each Starmind satellite will carry Nvidia’s Rubin GPUs and Vera CPUs, according to the post, which included renderings of the payload design.
The announcement landed hours before SpaceX’s first earnings call as a public company, where Musk went further, saying the company has committed to building its AI infrastructure exclusively on Nvidia hardware. “We think the Vera Rubin architecture is the best architecture. We think it’s the best AI computer, and we greatly value our close cooperation and partnership on many levels with Nvidia,” Musk told investors on the call,. “So we’re exclusive to Nvidia.”
Musk said SpaceX plans to deploy Nvidia’s Vera Rubin NVL72 rackscale system, codenamed Kyber, both on the ground and in space. He set a target of 2 gigawatts of compute capacity online by the end of this year, scaling to roughly 10 gigawatts by the end of 2027.
SpaceX’s newest Starmind will make earth data centers obsolete
Starmind has been in development since Musk confirmed the name in June, following an xAI trademark filing that tipped off the project before SpaceX made it official. The idea is massive in scope and instead of moving data down to ground based servers, satellites equipped with onboard processors and large solar arrays would compute AI workloads in orbit and beam results back to Earth. SpaceX has already filed with the FCC for a constellation of up to one million satellites to support the effort, citing constant solar power and the absence of zoning restrictions as advantages over terrestrial data centers.
The Nvidia exclusivity marks a shift in tone from just two weeks ago, when Musk was busy knocking down a report that SpaceX had ordered $52 billion worth of Nvidia GPUs through Foxconn, calling it fake news at the time. The dollar figure in that rumor may have been wrong, but the underlying direction seems correct. SpaceX’s AI division already leases Colossus compute capacity to Anthropic and Google, and Tuesday’s earnings report showed AI revenue climbing sharply as those deals ramp up.
Nvidia shares rose roughly 3% in Tuesday trading on the news, while SpaceX stock climbed nearly 9% during the day before giving back gains after hours as investors digested the earnings report’s capital spending figures.
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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.
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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.
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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.
SpaceX and Nvidia team up on Musk’s orbital AI bet
SpaceX reports beat in first earnings while minimizing losses
