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SpaceX’s Crew Dragon preps for debut as race to return astronauts to US craft nears final stages
After spending two weeks testing in a specialized NASA-run facility, SpaceX’s first flightworthy Crew Dragon spacecraft was shipped from Ohio to Florida, where it will now spend a number of months preparing for its first (uncrewed) launch into Earth orbit.
Known as Demonstration Mission 1 (DM-1), this critical milestone must be passed before the capsule will be certified to carry NASA astronauts to the International Space Station (ISS) sometime in 2019. While DM-1 will not sport a human crew, the spacecraft is nevertheless expected to demonstrate all life and mission-critical components, ranging from Crew Dragon’s complex array of avionics and ground/orbital communications equipment to craft’s ability to safely return passengers to Earth with a soft ocean landing.
SpaceX’s Crew Dragon spacecraft has been in the serious hardware development phase for approximately five years, although the concept itself dates back about as early as its Cargo Dragon predecessor – 2005 to 2006, publicly. Over the course of roughly two weeks of testing at NASA’s Plum Brook Station, Crew Dragon was likely subjected to a suite of environmental conditions the spacecraft will need to routinely survive to make it through initial launch and successfully operate under the rigors of microgravity and thermal vacuum conditions.
Crew Dragon arrived in Florida this week ahead of its first flight after completing thermal vacuum and acoustic testing at @NASA’s Plum Brook Station in Ohio. https://t.co/xXJE8TjcTr pic.twitter.com/lr0P95zzIK
— SpaceX (@SpaceX) July 12, 2018
Given the DM-1 capsule and trunk’s fairly quick jaunt at the huge Plum Brook vacuum chamber and equally quick arrival in Florida, those test results were likely quite favorable. Still, a major amount of work lies ahead before the first full Crew Dragon is ready for its launch atop Falcon 9. Most significantly, the craft’s trunk did not follow its fellow capsule to Florida, but rather returned to SpaceX’s Hawthorne, CA factory to be outfitted with critical flight hardware, particularly radiators and solar arrays. Once that outfit is complete, the module will also be shipped to Florida before being integrated with the DM-1 Crew Dragon capsule.
Of note, the DM-1 capsule has been constructed from the start to support a plan to use the vehicle in an in-flight abort test meant to ensure that the craft can wrest its passengers from harm’s way even at the most intense point of launch, where aerodynamic pressures are at their peak. In order to properly support both the DM-1 orbital mission and the in-flight abort test to follow, the capsule has been outfitted with a fair amount (hundreds of pounds) of hardware that will be unique to the pathfinder spacecraft. This understandably adds its own complexity to the already intense program’s first orbital mission, although it will hopefully not translate into additional delays.
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- NASA Astronaut Suni Williams, fully suited in SpaceX’s spacesuit, interfaces with the display inside a mock-up of the Crew Dragon spacecraft in Hawthorne, California, during a testing exercise on April 3. (SpaceX)
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- SpaceX’s Demo Mission-1 Crew Dragon seen preparing for vacuum tests at a NASA-run facility, June 2018. (SpaceX)
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- Crew Dragon parachute tests are likely to continue into the summer to ensure NASA certification in time for DM-1. (SpaceX)
SpaceX competitor’s crewed spacecraft and rocket take shape
It’s worth noting that SpaceX is effectively operating at a distinct – albeit partially self-wrought – financial handicap when compared with Boeing’s Starliner spacecraft program, one of two vehicles funded by NASA to accomplish the same task of safely and reliably transporting astronauts to and from the ISS.
“NASA awarded firm-fixed-price contracts in 2014 to Boeing and Space Exploration Technologies Corporation (SpaceX) [of] up to $4.2 billion [for Boeing] and $2.6 billion [for SpaceX] for the development of crew transportation systems.” (GAO-18-476)
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- Boeing’s DM-2 Starliner undergoes integration in Florida earlier this year. (Boeing)
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- The ULA Atlas V rocket that will launch Boeing’s DM-1 Starliner spacecraft captured at ULA’s Decatur, AL factory, October 2017. (ULA)
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- The United Launch Alliance (ULA) dual engine Centaur upper stage of the Atlas V rocket in the final stages of production and checkout, May 2018. (ULA)
In other words, Boeing requested and received a full 60% more than SpaceX to – quite literally – accomplish an identical task. Alongside the storied and brutally expensive history of crewed American spaceflight, both contracts are an absolute steal for two modernized, crew-capable spacecraft, but a 60% premium is a 60% premium. Foreseeable but slight cost overruns caused, among other things, by additional contractual requirements from NASA have followed a similar trend, roughly proportional to each company’s slice of the original $6.8b Commercial Crew contract.
“As of April 2018, NASA requirement changes had increased the value of contract line item 001 for Boeing by approximately $191 million and for SpaceX by approximately $91 million.” (GAO-18-476)
Still, Boeing’s progress towards its own DM-1 and DM-2 demo flights and a pad-abort test are impressive, although it very likely is more of a demonstration of a different approach to public communications than of any actual step up on SpaceX. In the last few weeks, Boeing has released a number of photos showing off the progress made building its own Starliner capsules and service modules (trunks), three of which are currently in varied states of assembly and integration in the company’s Florida-based facility. Additionally, United Launch Alliance CEO Tory Bruno has shared off-and-on updates and photos of the launch contractor’s own progress assembling the rockets that will launch Boeing’s spacecraft.
The two engine Centaur is getting ready and excited for #StarLiner. pic.twitter.com/WIf3H8k9yq
— Tory Bruno (@torybruno) July 2, 2018
Regardless, a huge amount of work lies ahead before both Boeing and SpaceX’s crewed spacecraft are able to conduct their first uncrewed and crewed launches into orbit. Now very outdated, NASA has stated several times recently that the presently available targets of NET August 31 will likely be updated later this month, pushing DM-1 debuts into NET Q4 2018 and the first commercial crewed demo missions to 2019.
Stay tuned, as the Block 5 Falcon 9 tasked with launching SpaceX’s own DM-1 Crew Dragon will likely be the next of a recent flood of finished rockets to leave the company’s Hawthorne factory, where it will head to McGregor, Texas to complete acceptance wet dress rehearsals and static fire tests before shipping to SpaceX’s Pad 39A in Florida.
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Tesla has finally clarified the situation regarding the viral crash in Texas where a Model 3 slammed into a home.
CEO Elon Musk replied to reports on Monday that stated the crash was due to the company’s Full Self-Driving or Autopilot suite, which seemed unlikely to those who are familiar with it. Video showed the car slamming into a house at an excessive rate of speed, making it highly unlikely the crash was due to the suite’s operation, as it does not travel at those speeds in residential areas.
Musk said:
“This makes no sense. FSD drives slowly through neighborhood streets, and this was a high-speed crash!”
Tesla’s Head of AI, Ashok Elluswamy, added context, revealing that the company’s data shows the driver “manually overrode self-driving by pressing the accelerator all the way to 100%.”
He revealed the speed reached by the car was 73 MPH, and the accelerator was still pressed “even after the crash.”
Yup. In this case, the driver manually overrode self-driving by pressing the accelerator all the way to 100% of the accel pedal in this residential area. They reached a speed of 73 mph during the crash, and had the accelerator pressed even after the crash.
— Ashok Elluswamy (@aelluswamy) June 22, 2026
Authorities are reportedly investigating “whether Tesla’s Autopilot system played a role after a Model 3 left the roadway…slammed through a brick house at high speed and fatally struck Matha Avila as she sat inside,” the New York Post reported.
The National Highway Traffic Safety Administration (NHTSA) is now investigating the crash. Tesla will work with the agency to provide them with whatever information they need in order to clarify the cause of the crash.
Similarly, Tesla had claims of a fatal accident in Harris County, Texas, a few years ago. Early reports indicated that Full Self-Driving was the cause of the crash. After the National Transportation Safety Board (NTSB) worked with Tesla, the agency proved there was “no use of the Autopilot system at any time during this ownership period of the vehicle, including the time frame up to the last transmitted timestamp on April 17, 2021.”
Tesla alleged “driverless” crash in Texas: What is known so far
“Application of the accelerator pedal was found to be as high as 98.8 percent,” the NTSB said in their findings. The highest recorded speed in the five seconds leading up to the impact was 67 miles per hour. The area where the crash occurred is residential, and Texas State laws have default speed limits of 30 MPH in residential streets.
This appears to be a similar situation. However, an investigation will prove what happened for sure.
SpaceX announced today that it commenced its first-ever public bond offering, marking a significant step in the newly public company’s capital markets strategy.
The company announced an offering of senior unsecured notes expected to raise at least $20 billion.
The move comes just a short time after SpaceX completed one of the largest initial public offerings in history. In mid-June, the company priced shares at $135 and raised more than $85 billion, propelling founder Elon Musk’s net worth past the trillion-dollar mark and giving the firm substantial liquidity.
🚨 SpaceX has announced its inaugural offering of senior unsecured notes.
The net proceeds will be used to repay outstanding loans under its bridge loan facility in full.
This inaugural debt offering represents a financing milestone for SpaceX, which previously depended… pic.twitter.com/pcOZuVbTRv
— TESLARATI (@Teslarati) June 22, 2026
According to the company’s SEC filing, the net proceeds from the notes will be used primarily to repay in full the outstanding borrowings under its existing bridge loan facility, cover related fees and expenses, and fund general corporate purposes. The offering is being conducted under Rule 144A, as well as Regulation S, targeting qualified institutional buyers and non-U.S. investors. Notes will be unsecured obligations ranking equally with other unsubordinated debt.
The $20 billion bridge loan was used to refinance approximately $17.5 billion in higher-cost “junk” debt tied to X and xAI. SpaceX had merged with xAI in February 2026 in an all-stock deal. The bridge facility, which matures in September 2027, had represented the bulk of SpaceX’s long-term debt.
SpaceX officially acquires xAI, merging rockets with AI expertise
In connection with the bond launch, SpaceX disclosed it held approximately $100.8 billion in cash and cash equivalents as of June 19. Investor calls began on the announcement date, with pricing and launch expected shortly thereafter. Rating agencies have assigned investment-grade ratings to the proposed bonds, reflecting confidence in SpaceX’s dominant position in commercial launches and the growth trajectory of its Starlink internet offering.
The debt raise also allows SpaceX to optimize its balance sheet by replacing short-term, higher-cost bridge financing with longer-date, lower-cost fixed-income securities. This provides greater financial flexibility to support capital-intensive initiatives, including the development of Starship, the expansion of the Starlink constellation, and the integration of AI capabilities following the xAI combination.
SpaceX shares (NASDAQ: SPCX) fell sharply on the news, dropping over 16 percent overall on the market on Monday. The stock had surged initially after debuting but pulled back amid profit-taking and broader market dynamics.
Overall, the bond offering underscores SpaceX’s transition to a mature public company with access to diverse funding sources. It positions the firm to pursue its long-term vision of multiplanetary expansion and AI infrastructure, while maintaining a disciplined approach to its capital structure in a high-growth but capital-heavy industry.
SpaceX confirmed today that it has officially signed its third massive compute deal, providing compute at its Colossus data center in Southaven, Mississippi.
Reflection AI will gain immediate access to NVIDIA GB300 chips at SpaceX’s Colossus 2 data center. In return, Reflection will pay SpaceX $150 million per month starting on July 1, with total payments reaching approximately $6.3 billion if the contract runs through its duration, which is until 2029. Either party can terminate the agreement with 90 days’ notice after the initial three-month period.
CNBC first reported the deal.
🚨 SpaceXAI has agreed to a new compute deal with Reflection AI.
Reflection gets access to NIVIDIA GB300s, and will pay $150M per month to SpaceXAI for the compute. pic.twitter.com/bNPare8U5u
— TESLARATI (@Teslarati) June 22, 2026
This latest partnership highlights SpaceX’s strategy of commercializing its massive Colossus supercomputing infrastructure, originally developed to power Elon Musk’s Grok AI models. The company has rapidly expanded its customer base in the AI sector following its February 2026 merger with xAI, a transaction that valued the combined entity at $1.25 trillion.
SpaceX has previously signed significant compute deals with other major players.
It granted Anthropic exclusive access to the full capacity of its Colossus 1 data center, which exceeds 300 megawatts and includes over 220,000 NVIDIA GPUs. Details from SpaceX’s IPO filings indicate Anthropic will pay $1.25 billion per month through May 2029, potentially generating around $45 billion over the term of the deal.
Additionally, Google agreed to pay SpaceX $920 million per month for compute capacity from October 2026 through June 2029. This 32-month period will provide Google access to roughly 110,000 NVIDIA GPUs, along with supporting processors and memory. Capacity ramps up through September at a reduced fee, with termination options after the first year.
SpaceXA also established arrangements for computing power with Cursor, an AI coding startup. SpaceX acquired them in a $60 billion all-stock deal.
These arrangements position SpaceX’s collective position as an AI infrastructure powerhouse with high-margin revenue potential. The Google deal alone could generate nearly $29.5 billion over its term, while the Reflection contract adds another $6.3 billion.
Combined with the Anthropic arrangement, SpaceX stands to realize tens of billions in revenue from compute leasing in the coming years, which diversifies beyond SpaceX’s traditional rocket launches and Starlink operation.
The deals underscore growing demand for advanced AI training and inference capacity amid chip shortages and surging model development needs. Reflection, valued at $25 billion and focused on “American open intelligence” with government and national security ties, cited recent restrictions on closed models as validation for open-source approaches.
For SpaceX, the partnerships transform capital-intensive data centers into flexible revenue sources while supporting its broader AI ambitions after the company has gone public.
Tesla finally clarifies fatal Texas crash, confirms driver manually overrode acceleration
SpaceX makes $20 billion move to optimize its balance sheet
