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SpaceX gets official ‘go’ from NASA for upcoming astronaut launch debut
Days before the final test flight and first crewed flight of SpaceX’s Crew Dragon capsule, Demo-2, representatives from SpaceX, NASA, and the International Space Station met for an intensive Flight Readiness Review (FRR) to determine whether or not the historic mission could proceed toward a May 27th, 2020 launch attempt.
Leaders from SpaceX and NASA such a NASA’s Commerical Crew Program Manager, Kathy Lueders; International Space Station Program manager Kirk Shireman; SpaceX’s director of Crew Mission Management, Benji Reed in conjunction with Russian and Japanese representatives from the International Space Station partnership came together to discuss the findings of previous, specialized reviews, close out any remaining action items, and give the official nod of approval for SpaceX to send astronauts to orbit for the first time. NASA Associate Administrator, Steve Jurczyk, led the review in place of Doug Loverro who recently resigned as chief of NASA’s human spaceflight program.
The standard practice joint FRR that occurs ahead of any crew launch comes after a series of previously held independent specialized reviews – such an engineering review of the Crew Dragon capsule and a flight test rate review led by Kathy Lueders and the Commercial Crew Program team. Initially intended to last just one day, the FRR began on Thursday (May 21st), extended to the end of the business day, and continued into Friday (May 22nd). After a day and a half of intensive review and conversation, Steve Jurczyk stated that “We did a thorough review of all of the systems and all the risks, and it was unanimous on the board that we are go for launch.”
NASA administrator, Jim Bridenstine spoke at a post review news conference stating that the FRR was a “time to speak up if there are any challenges and there were. There were conversations that were had that were very important to be had.” He also stated that there are still “a lot of checks to do, but the (flight) readiness review was good and we are a go.”
For Demo-2, the successful FRR is a crucial pathfinding step to confirming launch, however not the last. During the follow-up news conference, SpaceX’s Director of Crew Mission Management, Benji Reed, stated that the go for launch is permission to proceed in the launch sequence, but “really it’s a go to the mission,” referring to the fact that Demo-2 is an extended exercise of SpaceX’s entire human spaceflight system. Demo-2 will every step of the sequences from launch, to docking, to returning NASA astronauts Bob Behnken and Doug Hurley home safely. Reed went on to say that “there’ll be constant vigilance and watching of the data and observations as we go through the mission.”
In order to pass this final test flight, SpaceX will have to prove beyond a shadow of a doubt that Falcon 9 and Crew Dragon are more than capable of delivering and returning astronauts safely to and from orbit. Perhaps the most important objective to be met is achieving NASA human rating certification of SpaceX’s human spaceflight system. In response to a question regarding human rating by CNBC reporter Michael Sheetz, Steve Jurczyk stated that the Demo-2 FRR was an “intermittent interim human rating certification review – validated that this system meets the human rating certification requirements for the Demo-2 mission and those requirements feed forward to future missions, including the Crew-1 mission. We will have a final human rating certification review after Demo-2, before the Crew-1 mission, just to certify the relatively small set of design changes between the Demo-2 system and the Crew-1 system, and at that point, we will deem the system human rating certified.”
A few final hurdles Demo-2 had left to clear is the static firing of the Falcon 9’s Merlin 1D engines and a dry dress rehearsal of launch day proceedings scheduled to occur Saturday (May 22nd) to ensure every kink is worked out of the system and everything is ready to go for launch. The dry dress rehearsal will encompass every aspect of launch day, from putting on the spacesuits to climbing into the Crew Dragon capsule. It is expected to end just before propellant loading would begin in the countdown.
Finally, SpaceX is expected to hold its own Launch Readiness Review with appropriate NASA teams in attendance on Monday, May 25th, “to make sure we’re go for each aspect, including go to come home,” as stated by Reed. Upon conclusion, the only thing left to do will be to load the astronauts and launch to the International Space Station, making history for SpaceX once again.
Tesla CEO Elon Musk posted a photo of himself standing with the Optimus production team inside Tesla’s Fremont factory, arms crossed amid workers in hard hats and safety vests. The image captures a pivotal industrial shift: the same facility space once dedicated to building Tesla’s flagship Model S sedan and Model X SUV is now home to the company’s humanoid robot manufacturing line.
Walking the Optimus production line in Fremont pic.twitter.com/ABS0tuRibW
— Elon Musk (@elonmusk) July 1, 2026
Tesla’s Fremont Factory, acquired in 2010 from the former NUMMI joint venture between Toyota and GM, has been the company’s original U.S. manufacturing hub since Model S production began in 2012.
The Model X followed soon thereafter. These premium vehicles offered lower annual volumes, recently around 30,000 combined, compared to the high-volume Model 3 and Model Y lines that continue around the site. Over their combined run, the S and X accounted for roughly 610,000 units.
In late January 2026, during Tesla’s Q4 2025 earnings call, Elon Musk announced the end of Model S and Model X production in Q2 2026. The final vehicles rolled off the line in early May. Rather than retooling for another vehicle, Tesla chose to convert the dedicated S/X assembly area into a dedicated Optimus Gen 3 production line.
Model 3 and Y manufacturing remains unaffected. Tesla’s official Fremont Factory page now lists Optimus alongside the 3 and Y as core products.
The conversion was executed with remarkable speed. After production stopped, crews dismantled the existing vehicle line and installed entirely new modular equipment—including lines sourced from Germany and dozens of sub-lines for actuators, batteries, and other components—in roughly four months.
Musk described the timeline as “insanely fast,” noting it would be unprecedented for any other manufacturer. Initial Optimus output is expected to ramp slowly due to the robot’s roughly 10,000 unique parts and the brand-new production processes involved. The Fremont line targets an eventual capacity of 1 million Optimus units per year.
Tesla isn’t joking about building Optimus at an industrial scale: Here we go
Optimus Development Timeline
- August 19, 2021: Optimus (then called Tesla Bot) formally announced at Tesla’s first AI Day. A concept video showed a person in a suit demonstrating the vision for a general-purpose humanoid capable of dangerous, repetitive, or boring tasks using the same AI architecture as Full Self-Driving.
- 2022: Early prototypes displayed. At the second AI Day in September, semi-functional units demonstrated walking across a stage and basic arm movements
- 2023: September videos showed improved capabilities, including sorting colored blocks, precise limb awareness, and holding a Yoda pose.
- 2024-early 2025: Factory integration videos showed Optimus navigating workspaces and handling objects like battery cells.
- January 2026: Gen 3 mass-production activities began at Fremont, with reports of over 1,000 Gen 3 units already operating inside the factory for real-world learning and AI training
- April 2026: Musk confirms Optimus production on converted Fremont line would begin in late July or August 2026. The Gen 3 reveal, originally eyed for Q1, was pushed closer to production start. A second, much larger Optimus factory at Giga Texas is under construction, with volume production targeted for Summer 2027 and long-term capacity of 10 million units annually
- July 1, 2026: Musk’s on-site visit and team photo confirm the Optimus line is operational and the transition is actively progressing
Tesla positions Optimus as potentially its largest project ever, leveraging vertical integration, AI expertise, and car-like manufacturing know-how to scale humanoid robots first for its own factories and later for broader industrial and consumer use.
The Fremont conversion serves as a critical proving ground for this ambitious new chapter in Tesla’s already-rich history.
Investor's Corner
Tesla gets its latest short from Michael Burry: ‘Happy it jumped back to this level’
Tesla short seller Michael Burry, the subject of the film “The Big Short,” where he was portrayed by Steve Carell, has revealed he has opened a new bet against the stock.
In a new update to his Substack newsletter in a post titled “Trading Post June 30, 2026,” Burry revealed a new set of bets against Tesla, Caterpillar, NVIDIA, Applied Materials Inc., and the iShares Semiconductor ETF.
In regard to Tesla, Burry wrote:
“And finally I shorted Tesla at 416.22. Happy it jumped back to this level.”
This means Burry likely opened his new short position after the company’s recent rally on Wall Street, which saw Tesla shares sink in mid-May, only to recover to well over the $400 mark. Currently, shares trade at around $427.
The company saw a big Tuesday as shares climbed considerably, over 10 percent. The size of the Tesla short was not provided, nor did Burry give any information on the position’s structure, the number of shares, dollar value, or whether options were used in the short.
The Tesla and SpaceX merger everyone is talking about is quietly building
Over the years, Burry has been one of the more vocal critics of Tesla, calling its share price “media inflated,” and saying it was “ridiculously overvalued” as recently as December.
The company has largely transitioned away from being known as an automotive company and instead is much more widely regarded as an AI play, mostly due to its Full Self-Driving efforts, Optimus robot development, and data collection related to both.
This has not pulled those skeptics away from being vocal about their distaste for how Tesla is valued, but there’s no denying that the company is a global force in many things, including sustainable energy, automotive, and AI.
Wedbush Securities is initiating stock coverage on SpaceX (NASDAQ: SPCX), marking the first comments on the company since it went public several weeks ago. Wedbush and its analyst handling coverage, Dan Ives, are widely bullish on fellow Musk company Tesla (NASDAQ: TSLA).
Ives wrote his first note initiating coverage of SpaceX shares on Wednesday with a $190 price target and an ‘Outperform’ rating. The firm believes the company is well positioned off of its IPO because of its wide array of projects, including AI compute power and infrastructure, connectivity projects, and launches.
“We view SpaceX as one of the most differentiated assets within the tech market with a strong footprint across its three core markets, with Starlink driving success with connectivity,” Ives wrote, “Starship launches leading to a demand flywheel and increasing deal flow for its Colossus clusters.”
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Wedbush leans heavily on Starlink, which they say is the “profitability driver given the strength of its recurring revenue base of ~12 million subscribers as of June 5th.” Ives believes Starlink is still in the “early innings” of penetrating the global telecommunications and broadband market, as it only holds less than a 1 percent share. However, this number is sure to increase over time.
It also highlights the importance of Starship, which it says is an “essential layer” of SpaceX’s overall success. SpaceX developing and displaying the ability to reuse rockets is a major cost and reliability advantage “as it reduces the necessary hardware launch costs while generating a feedback loop for future flights to improve their launch flight rate without accelerating capex spend.”
Finally, SpaceX’s recent AI/Compute projects are also very elementary, Ives writes. It is worth mentioning Wedbush said its $190 price target is derived from a valuation forecast that sees the company yielding roughly $2.48 trillion of implied enterprise value.
There are also some factors that Wedbush did not take into account with its initial coverage. The firm wrote in the note:
“We note that there is optional value coming from Starship’s accelerating scale towards sub-$200/kg unit economics, orbital data centers, and enterprise AI monetization as these factors could drive meaningful upside but these face major hurdles, so we do not take that into account with our valuation.”
SpaceX shares are down just over 2 percent today, trading at around $167 at the time of publication.
Tesla Optimus project fires up as Musk sees production line progress
Tesla gets its latest short from Michael Burry: ‘Happy it jumped back to this level’
