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SpaceX Dragon carries four astronauts home after record-breaking voyage

Crew Dragon and four astronauts are lifted aboard a SpaceX recovery ship just half an hour after splashdown. (NASA)

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SpaceX’s first operational Crew Dragon spacecraft has safely returned its four-astronaut crew back to Earth after a record-breaking voyage in space.

Around eight hours after JAXA astronaut Soichi Noguchi and NASA astronauts Shannon Walker, Victor Glover, and Mike Hopkins undocked from the International Space Station (ISS) and began their descent, Crew Dragon ‘Resilience’ (capsule C207) gently splashed down in the Gulf of Mexico a few dozen miles off the coast of western Florida. Marking the second crewed splashdown of the first crewed US space capsule developed and flown since the end of the Apollo Program almost half a century ago, SpaceX’s successful Crew-1 recovery is extraordinarily significant.

First and foremost, Crew-1’s recovery marks the first time in US history that a crewed spacecraft has successfully returned orbiting astronauts to Earth after spending more than a few months (84 days) in orbit. In fact, Crew Dragon C207 ultimately doubled that Apollo era record, spending a full 168 days (almost six months) in the vacuum of space. Only Russia has extensive experience operating crewed spacecraft in space for half a year or more, meaning that NASA and SpaceX were venturing into the (relative) unknown with their first attempt at a similar feat.

Had something gone awry during Crew-1’s ISS departure or reentry, descent, and splashdown, SpaceX and NASA could have been forced to grapple with the fact that Crew-2’s Crew Dragon might not longer be considered safe enough to return its own four-astronaut crew back to Earth five months from now. Of course, the duo assuredly didn’t make the decision to fly Crew-2 before Crew-1’s recovery lightly and there was clearly a significant degree of confidence that an extra ~100 days in orbit would be a marginal risk – but a risk it still certainly was.

Thankfully, Crew-1’s ISS departure and splashdown was truly flawless, effectively retiring what little risk remained and confirming beyond a shadow of a doubt that SpaceX’s first crewed spacecraft is safe for human spaceflight.

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Crew-1 astronauts Shannon Walker, Victor Glover, Mike Hopkins, and Soichi Noguchi are pictured inside Dragon shortly before hatch close and undocking. (Thomas Pesquet)
Back on the ISS, ESA astronaut Thomas Pesquet was able to capture some truly spectacular photos of Crew Dragon’s plasma trail as it tore through the atmosphere during reentry. (Thomas Pesquet)
Half a day later, the four astronauts (and Crew Dragon) were safely back on Earth. (NASA)

Notably, in another demonstration of NASA’s increasingly extraordinary trust in SpaceX, Crew-1’s recovery was the first time a crewed spacecraft has landed in the ocean at night since Apollo 8 splashed down in 1968. While obviously far from preferable compared to a normal daylight recovery, sea and weather conditions were apparently too good to pass up and SpaceX’s recovery teams have already extensively trained for nighttime splashdowns.

Just a few weeks prior, the exact same Crew Dragon became the first US spacecraft ever to switch docking ports while in orbit – a feat it completed without issue. In other words, Crew Dragon Resilience (C207) is the first crewed space capsule to fly four people, splash down at night, and switch docking ports in orbit, as well as the first US crewed spacecraft to spend more than three months in space and first privately-developed spacecraft to complete an operational astronaut transport mission.

Wrangling a Dragon – at night. (NASA)

Now that Crew-1 has vacated its ISS docking port, SpaceX’s second upgraded Cargo Dragon spacecraft is clear to launch and dock with the ISS as early as June 3rd. In late October, SpaceX is scheduled to perform an almost identical Dragon ‘hand-off,’ launching Crew-3 and four more international astronauts to briefly join Crew-2’s Dragon at the ISS before the latter vehicle heads back to Earth with its own crew of four.

Eric Ralph is Teslarati's senior spaceflight reporter and has been covering the industry in some capacity for almost half a decade, largely spurred in 2016 by a trip to Mexico to watch Elon Musk reveal SpaceX's plans for Mars in person. Aside from spreading interest and excitement about spaceflight far and wide, his primary goal is to cover humanity's ongoing efforts to expand beyond Earth to the Moon, Mars, and elsewhere.

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Investor's Corner

Barclays lifts Tesla price target ahead of Q3 earnings amid AI momentum

Analyst Dan Levy adjusted his price target for TSLA stock from $275 to $350, while maintaining an “Equal Weight” rating for the EV maker.

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Credit: Tesla China

Barclays has raised its price target for Tesla stock (NASDAQ: TSLA), with the firm’s analysts stating that the electric vehicle maker is approaching its Q3 earnings with two contrasting “stories.” 

Analyst Dan Levy adjusted his price target for TSLA stock from $275 to $350, while maintaining an “Equal Weight” rating for the EV maker.

Tesla’s AI and autonomy narrative

Levy told investors that Tesla’s “accelerating autonomous and AI narrative,” amplified by CEO Elon Musk’s proposed compensation package, is energizing market sentiment. The analyst stated that expectations for a Q3 earnings-per-share beat are supported by improved vehicle delivery volumes and stronger-than-expected gross margins, as noted in a TipRanks report.

Tesla has been increasingly positioning itself as an AI-driven company, with Elon Musk frequently emphasizing the long-term potential of its Full Self-Driving (FSD) software and products like Optimus, both of which are heavily driven by AI. The company’s AI focus has also drawn the support of key companies like Nvidia, one of the world’s largest companies today.

Still cautious on TSLA

Despite bullish AI sentiments, Barclays maintained its caution on Tesla’s underlying business metrics. Levy described the firm’s stance as “leaning neutral to slightly negative” heading into the Q3 earnings call, citing concerns about near-term fundamentals of the electric vehicle maker.

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Barclays is not the only firm that has expressed its concerns about TSLA stock recently. As per previous reports, BNP Paribas Exane also shared an “Underperform” rating on the company due to its two biggest products, the Robotaxi and Optimus, still generating “zero sales today, yet inform ~75% of our ~$1.02 trillion price target.” BNP Paribas, however, also estimated that Tesla will have an estimated 525,000 active Robotaxis by 2030, 17 million cumulative Optimus robot deliveries by 2040, and more than 11 million FSD subscriptions by 2030.

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Investor's Corner

BNP Paribas Exane initiates Tesla coverage with “Underperform” rating

The firm’s projections for Tesla still include an estimated 525,000 active Robotaxis by 2030.

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Credit: Tesla China

Tesla (NASDAQ: TSLA) has received a bearish call from BNP Paribas Exane, which initiated coverage on the stock with an Underperform rating and a $307 price target, about 30% below current levels. 

The firm’s analysts argued that Tesla’s valuation is driven heavily by artificial intelligence ventures such as the Robotaxi and Optimus, which are both still not producing any sales today.

Tesla’s valuation

In its note, BNP Paribas Exane stated that Tesla’s two AI-led programs, the Robotaxi and Optimus robots, generate “zero sales today, yet inform ~75% of our ~$1.02 trillion price target.” The research firm’s model projected a maximum bull-case valuation of $2.7 trillion through 2040, but after discounting milestone probabilities, its base-case valuation remained at $1.02 trillion.

The analysts described their outlook as optimistic toward Tesla’s AI ventures but cautioned that the stock’s “unfavorable risk/reward is clear,” adding that consensus earnings expectations for 2026 remain too high. Tesla’s market cap currently stands around $1.44 trillion with a trailing twelve-month revenue of $92.7 billion, which BNP Paribas argued does not justify Tesla’s P/E ratio of 258.59, as noted in an Investing.com report.

Tesla and its peers

BNP Paribas Exane’s report also included a comparative study of the “Magnificent Seven,” finding Tesla’s current market valuation as rather aggressive. “Our unique comparative analysis of the ‘Mag 7’ reveals the extreme nature of TSLA’s valuation, as the market implicitly says TSLA’s 2035 earnings (~55% of which will be driven by Robotaxi & Optimus, w/ zero sales now) have the same level of risk & value-appropriation as the ‘Mag 6’s’ 2026 earnings,” the firm noted.

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The firm’s projections for Tesla include an estimated 525,000 active Robotaxis by 2030, 17 million cumulative Optimus robot deliveries by 2040 priced above $20,000 each, and more than 11 million Full Self-Driving subscriptions by 2030. Interestingly enough, these seem to be rather optimistic projections for one of the electric vehicle maker’s more bearish estimates today.

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Tesla FSD’s new Mad Max mode is getting rave reviews from users

It does appear that Mad Max mode is destined to be one of the system’s biggest steps forward to date.

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Credit: Whole Mars Catalog/X

Tesla’s release notes for the newly released Mad Max mode for FSD (Supervised) V14.1.2 simply stated that the feature “comes with higher speeds and more frequent lane changes than Hurry.” But as per videos that have been posted online by FSD users who have tested the system, it does appear that Mad Max mode is destined to be one of the system’s biggest steps forward to date. 

It is then no surprise that the new capability is getting rave reviews from Tesla owners. 

Impressive tests

A look at posts on social media platform X would show that, similar to past FSD releases, numerous Tesla content creators immediately tested Mad Max mode on real-world streets after it was downloaded onto their vehicle. Considering that the update was released rather late, the first tests of Mad Max mode were done at night. Despite this, it was evident that Tesla worked very hard to make Mad Max mode into something that is very useful in real-world scenarios.

This could be seen in videos from longtime Tesla owner @BLKMDL3, who observed that Max Max mode was “amazing” and like “perfect for LA traffic” due to its cautious but assertive nature. Later on, the Tesla owner noted that after eight drives, it was evident that FSD (Supervised) V14.1.2 was impressive. 

Assertive but safe

Other testers such as Model Y owner Sawyer Merritt noted that Mad Max mode drives very quickly and confidently, with smoother acceleration that is still very safe. These were echoed by another longtime FSD tester, Dirty Tesla, who noted that Mad Max mode seems to be designed for heavy, aggressive traffic so users could fit in better. The FSD user did, however, observe that Mad Max mode does speed up a lot on open roads. 

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Recent comments from Tesla AI Head Ashok Elluswamy have indicated that Mad Max mode was created to be a solution for daytime congested traffic, which is arguably one of the most soul-crushing experiences that drivers deal with on a daily basis. With this in mind, it does appear that FSD (Supervised) V14.1.2 could prove to be a notable step forward in Tesla’s push towards true autonomous driving.

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