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SpaceX's Dragon spacecraft photobombed in orbit by solar eclipse
On December 26th, SpaceX’s second-to-last Cargo Dragon spacecraft was photobombed in orbit by the shadow cast on Earth by a solar eclipse, likely a little over a week before the vehicle is set to reenter the atmosphere and splash down in the Pacific Ocean.
Cargo Dragon lifted off atop a rare new Falcon 9 booster – B1059 – on December 5th, carrying around 2600 kg (5800 lb) of cargo inside on the flight-proven capsules third launch into Earth orbit. After a quick three-day journey from its parking orbit to the International Space Station (ISS), Dragon was successfully captured by the station’s astronauts with a robotic arm and berthed to the orbital outpost, where the crew quickly unloaded its cargo of food, consumables, science, and equipment.
Shortly after liftoff, Falcon 9 B1059 completed its first successful landing – a bit of a surprise ordeal aboard drone ship Of Course I Still Love You (OCISLY) – and the relatively gentle reentry and trajectory should mean that the booster can be turned around almost immediately for its next launch. B1059 is thus a prime candidate for reuse on a future NASA mission and could very well support Cargo Dragon’s next space station resupply mission (CRS-20) as early as March 2020.
For a number of reasons, the spacecraft’s recent success is a touch bittersweet.
Notably, CRS-19 is the second to last orbital mission scheduled for SpaceX’s original Dragon spacecraft, which debuted in orbit in December 2010, becoming the first commercial spacecraft to successfully reenter and be recovered intact. Less than a year and a half later, Cargo Dragon became the world’s first commercial spacecraft to successful rendezvous and berth with the International Space Station (ISS).
The rest, as they say, is history. Five months later, SpaceX launched Cargo Dragon’s first official mission under NASA’s Commercial Resupply Services (CRS) program, known as CRS-1. Aside from a June 2015 launch vehicle failure that prevented Cargo Dragon from reaching orbit on its CRS-7 mission, SpaceX has successfully completed every resupply mission that managed to reach orbit, delivering more than 43 metric tons (95,000 lb) of supplies to the space station and the astronauts aboard it.
There have been several technical challenges over the years but every Cargo Dragon that reached orbit successfully completed its space station resupply mission and was recovered intact from the ocean surface after reentering Earth’s atmosphere. SpaceX has matured and improved almost every aspect of the spacecraft over the nine years it’s been flying, substantially upgrading its PICA-X heat shield, improving navigation sensors, upgrading its reusability, testing Crew Dragon and Starship hardware, and more.
Cargo Dragon has without a doubt been one of SpaceX’s biggest successes, combining with the company’s exceptionally capable and affordable Falcon 9 rocket to enable reliable cargo resupply missions, while also continuing to be the only way that NASA (or anyone alse) can return substantial non-human payloads back to Earth. Thankfully, although the spacecraft’s exceptional track record is set to come to an end after its next launch, the Cargo Dragon lineage will continue to supply the space station in the form of a modified version of Crew Dragon (i.e. Dragon 2).
On December 26th, SpaceX’s CRS-19 Cargo Dragon – attached to the International Space Station (ISS) – was photobombed by the shadow produced on Earth’s surface by an annular solar eclipse. With any luck, the spacecraft’s first upgraded successor will take over and begin orbital resupply launches as early as August 2020, setting SpaceX up for at least another four or so years of Dragon launches.
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Elon Musk has firmly denied recent media reports suggesting that SpaceX has reduced its target valuation for an upcoming initial public offering.
The denial came directly from the SpaceX and Tesla frontman on his social media platform X, where he responded with a single word, “False,” to a post from ZeroHedge that cited Bloomberg sources.
This swift rebuttal underscores Musk’s ongoing effort to manage speculation surrounding one of the most anticipated market debuts in recent history.
False
— Elon Musk (@elonmusk) May 29, 2026
According to the disputed reports, SpaceX had lowered its IPO valuation goal to at least $1.8 trillion from previous ambitions exceeding $2 trillion.
The claims emerged amid growing anticipation for the company’s confidential S-1 filing, which positions it for a potential public listing as early as June.
Some had pointed to strong revenue growth, particularly from the Starlink satellite internet service, which contributed heavily to the firm’s 2025 figures of $18.7 billion. Yet challenges persist in other areas, including substantial investments and losses tied to ambitious projects like Starship development and artificial intelligence initiatives, which plan to make life multiplanetary eventually.
Musk’s response highlights a pattern in which he actively counters what he views as inaccurate portrayals of his companies’ trajectories.
SpaceX, already valued privately at extraordinary levels, stands as a cornerstone of Musk’s empire alongside Tesla and xAI. The entrepreneur has long emphasized the transformative potential of reusable rockets and global broadband access, factors that fuel investor enthusiasm despite operational hurdles.
By rejecting the valuation downgrade narrative, Musk signals confidence in SpaceX’s fundamentals and its readiness for public markets on terms favorable to its long-term vision. People have been waiting a very long time to invest in SpaceX, and the valuation, as well as the introductory share price, is not going to need adjusting.
They’ll have plenty of suitors.
This episode reflects broader dynamics in the technology sector, where rumors often swirl around high-profile entities. Musk’s direct engagement with media narratives serves to maintain transparency and control the narrative around his ventures.
As SpaceX prepares for greater scrutiny in public markets, the founder’s denial reinforces optimism about its prospects. Supporters argue that the company’s innovative edge positions it for enduring success, far beyond short-term valuation debates. With the denial now public, attention turns to forthcoming regulatory filings that could provide clearer insights into SpaceX’s strategy and financial health.
The coming weeks promise to reveal more about how SpaceX will transition into a publicly traded powerhouse.
Tesla’s dreams of operating a fully autonomous ride-hailing platform just took a massive step toward reality, as two separate events have indicated the company is perhaps closer than ever to achieving self-driving as a product.
On Thursday, Tesla was granted authorization by the State of Texas to operate driverless vehicles in a commercial manner. On May 28, Senate Bill 2807, passed by the 89th Texas Legislature, took effect after being passed back on September 1, 2025.
The bill establishes a statewide regulatory framework requiring authorization from the Texas Department of Motor Vehicles for companies to operate automated vehicles commercially on Texas roads.
This covers driverless, or SAE Level 4+, operations for passenger transport, meaning Robotaxi, or freight.
Tesla and other companies can self-certify their vehicles and tech as long as they:
- Operate in compliance with Texas traffic laws
- Maintain proper registration, title, and insurance
- Use compliant automated driving systems
- Record onboard activity and handle system failures and glitches safely.
The new authorization, which was first reported by James Stephenson on X, allows companies to utilize their own processes to determine if their vehicles are ready to operate without drivers.
🚨BREAKING:
Tesla has been authorized by the State of Texas to operate driverless vehicles commercially under the new law that took effect today, May 28th, 2026. Tesla has officially self-certified the software running on its robotaxis as Level 4. $TSLA pic.twitter.com/KSJdsvlaW5— James Stephenson (@ICannot_Enough) May 28, 2026
It is a rule that expedites the entire approval process, keeping agencies out of a usually long, lengthy, and frustrating task that is essential to technological advancements. It essentially means Tesla can launch commercial Robotaxi operations at this point.
On the very same day, Tesla continued the momentum as CEO Elon Musk shared a video of Cybercab units autonomously driving off the property at Gigafactory Texas. This is a major step in the story of the Cybercab.
Mass production of the Cybercab started at Giga Texas in April, and it is already heading out of the factory on its own.
Cybercab driving itself out of the GigaTexas factory pic.twitter.com/EwAMVVDjYy
— Elon Musk (@elonmusk) May 28, 2026
These two major events mark a drastic step forward in Tesla’s progress toward Cybercab and the permissions it needs to operate a self-driving ride-hailing service. Tesla is now able to operate autonomously under Texas law by self-certifying, and with the potentially imminent rollout of Cybercab, Tesla’s autonomous dreams are starting to take serious shape.
Elon Musk
The Tesla and SpaceX merger everyone is talking about is quietly building
Tesla and SpaceX may be closer to merging than Wall Street or either company is admitting.
Elon Musk has reportedly discussed merging Tesla and SpaceX with people close to him, according to CNBC, which cited sources familiar with the conversation. Tesla employees have long expected such a transaction and the topic is openly discussed internally, according to internal sources. With SpaceX is days away from kicking off its Wall Street roadshow for what could be the largest IPO in market history, this would be the first time the company will have public market currency to execute a stock-for-stock deal with Tesla.
The financial logic for a merger would make sense. A combined SpaceX and Tesla would create a conglomerate spanning rockets, satellites, electric vehicles, AI infrastructure, and energy storage valued at roughly $3.35 trillion to $3.6 trillion based on SpaceX’s IPO target range and Tesla’s current market capitalization. The two companies are already more intertwined than most people realize. SpaceX bought $697 million worth of Tesla Megapack systems for xAI data centers and $131 million worth of Cybertrucks. Tesla invested $2 billion in xAI, which subsequently merged with SpaceX. Past transactions also include Tesla selling solar equipment and parts to SpaceX, and SpaceX helping with Cybertruck materials.
Will Tesla join the fold? Predicting a triple merger with SpaceX and xAI
Musk himself signaled where this was heading in November 2025 when he posted on X, “My companies are, surprisingly in some ways, trending towards convergence.” Tesla and SpaceX announced a joint semiconductor fabrication facility in Austin called Terafab on the Gigafactory Texas campus, covering two advanced chip factories, with one serving Tesla’s AI needs for vehicles and Optimus robots, the other targeting space-based data centers under SpaceX’s infrastructure vision.
Wedbush analyst Dan Ives places the probability of a merger at 80% to 90% with a target completion in the first half of 2027. The mechanics of a deal became possible the moment SpaceX filed its S-1. Legal experts said a merger likely would not spark antitrust issues but would raise concerns among shareholders in each company, with questions around which company would be the parent, how a stock swap would take place, and who determines the appropriate price. Musk holds about 20% of Tesla’s equity but controls 85.1% of SpaceX’s voting power through a super-voting share class, meaning he would largely be negotiating the terms with himself.
Not everyone is convinced the timing is imminent. Traders on Kalshi place only 33% odds that a merger will happen before May 2027. The more immediate concern for Tesla shareholders is whether the SpaceX IPO pulls capital and Musk’s attention away from Tesla before any merger consolidates the upside for both.
What is clear is that the structural groundwork is already being laid. The Terafab announcement, the xAI merger, the shared supply chain, the cross-company balance sheet transactions, and now the IPO all point in the same direction. Whether the merger follows in 2027 or later, the two companies are already operating more like divisions of a single entity than independent competitors.
Elon Musk strikes down reports on SpaceX IPO rumors
Tesla’s Robotaxi dreams just took a massive step toward reality
