SpaceX
SpaceX’s Crew Dragon and Falcon 9 head to Pad 39A for historic launch debut
NASA has confirmed that a Feb. 27th launch readiness review (LRR) prior to the orbital debut of SpaceX’s Crew Dragon spacecraft concluded with all parties remaining “go” for the historic launch.
Scheduled to liftoff at 2:48 am EST (07:48 UTC) on March 2nd, Falcon 9 and Crew Dragon can now begin to roll out to Launch Complex 39A (‘Pad 39A’) and complete final preflight checks approximately 24-48 hours before launch. After relentless work over the last few months, SpaceX has also largely completed a significant series of changes – many aesthetic – to Pad 39A, giving the historic complex a sleek new black and white paint scheme and enclosed tower (FSS).
And there's the confirmation the LRR was completed and with a GO. Rollout is next. Expect lots of cool photos especially with the 39A FSS now fully "cladded" compared to the photo in the tweet during the Static Fire test. https://t.co/SQHcd3Ahgo
— NSF – NASASpaceflight.com (@NASASpaceflight) February 28, 2019
Falcon 9, Crew Dragon “go” for launch
Following up the Flight Readiness Review (FRR) five days later, the completion of the Launch Readiness Review (LRR) effectively means that SpaceX can now proceed into launch operations a bit like any other mission, rolling the rocket and spacecraft out to Pad 39A, taking the assembly vertical, and finally completing (relatively) routine preflight preparations. SpaceX pad engineers and technicians have already completed a wet dress rehearsal (WDR) and static fire test over the last two months, meaning that they have already gained a significant amount of real-world experience working with and operating the brand new Crew Dragon spacecraft and its human-rated Falcon 9 rocket.
This milestone has been the better part of a decade in the making, beginning in 2009 or 2010 (depending on definitions) with funding from NASA dedicated to what would ultimately become the Commercial Crew Program (CCP). SpaceX did not begin to receive rewards or dedicated Crew Dragon-related funding until April 2011, when NASA awarded the company $75M to develop the spacecraft’s proposed integral abort system, relying on a newly developed Super Draco engine. In August 2012, NASA awarded Sierra Nevada, SpaceX, and Boeing several hundred million dollars each to continue serious development of their respective crewed spacecraft and launch vehicles, followed in 2014 by firm long-term contracts with SpaceX and Boeing to bring their Crew Dragon and Starliner vehicles to fruition.
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- The integrated DM-1 Crew Dragon ‘stack’ rolled out to Pad 39A for the first time in the first few days of 2019. (SpaceX)
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- Crew Dragon and its crew-rated Falcon 9 went vertical at a launch pad (Pad 39A) for the first time ever on January 4th. (SpaceX)
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- Crew Dragon and Falcon 9 B1051 stand vertical at Pad 39A during preparations for a late January static fire test. (SpaceX)
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- SpaceX completed a successful static fire of the first Falcon 9 rated for human flight on January 24th. (SpaceX)
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- An official SpaceX render shows Falcon 9 and Crew Dragon lifting off from Pad 39A. (SpaceX)
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Of note, SpaceX’s contract was valued at $2.6B, while Boeing received $4.2B, a full 60% more to complete an effectively identical task. Sadly, the US Congress systematically underfunded CCP during its formative years, largely a consequence of entrenched political and financial interests in preferentially funding NASA’s own SLS rocket and crewed Orion spacecraft above and at the cost of other rocket and spacecraft development initiatives. Insufficient funding likely contributed heavily to the years of delays subsequently suffered by the program and its commercial providers, pushing a nominal launch debut target from 2015 to 2017 before ultimately moving to 2018 and finally 2019, largely a result of unsurprising technical challenges faced by each provider as they entered into hardware- and testing-rich phases of development.
After approximately 5-6 years of concerted work, SpaceX and NASA are now as ready as they’ll ever be to conduct the first orbital launch of the Commercial Crew Program, to be followed as early as by Boeing’s own uncrewed orbital demonstration of its Starliner spacecraft. For those that have followed CCP for even part of its years-long saga, it’s more than a little surreal to be faced with the reality that such a milestone is barely two days distant.
Pad 39A: more than just a fresh coat
Meanwhile, SpaceX’s leased Pad 39A launch complex has undergone its own significant changes. Dating back to NASA’s Apollo Program, Pad 39A supported all but one of Saturn V’s 13 launches and more than 80 Space Shuttle launches before SpaceX took over the pad in 2014. In the five years the company has leased the facility, a range of changes have been made to the pad’s hardware, support facilities, and the primary metalwork known as service structures, one fixed (FSS) and one rolling (RSS). Aside from a bare skeleton of the RSS hinge, SpaceX has completely removed several hundred tons of Shuttle support hardware, while the FSS (the skyscraper-like rectangular tower) has remained largely unchanged, aside from the installation of a new level and Crew Dragon’s Crew Access Arm (CAA) on the ~110m (350 ft) tower.
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- Space Shuttle Atlantis prepares for STS-129’s Pad 39A launch, November 2009. (NASA/Bill Ingalls)
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- 39A is seen here on February 11th, 2009 from a very similar angle to the 2009 photo of Shuttle Atlantis. (Tom Cross)
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- Falcon 9 and Crew Dragon vertical at Pad 39A. (SpaceX)
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- SpaceX technicians work on the tower and access arm, Feb. 11. (Tom Cross)
Most recently, the company has pursued a series of visually distinct changes to tower, painting it almost entirely black with white highlights and installing partially transparent black plexiglass panels along the full length of at least 2-3 of its four walls. While the paint color is almost certainly aesthetically motivated (it matches Falcon 9, Crew Dragon, and the access arm), the decision to enclose all or most of the FSS will likely be very well received the astronauts and technicians it will ultimately support, especially if SpaceX manages to keep out Florida’s notorious mosquitoes.
If SpaceX’s uncrewed DM-1 Crew Dragon demonstration is a success, the company could follow it up with Crew Dragon’s first launch with astronauts aboard as early as July 2019, officially returning 39A to active place in human spaceflight and marking the end of more than eight years spent without a domestic solution for transporting US astronauts into orbit.
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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
