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SpaceX dropped a Crew Dragon mockup to save a helicopter and its passengers
SpaceX says it encountered an issue that forced it to drop a Crew Dragon spacecraft mockup during parachute testing — not a failure of the vehicle or its parachutes, to be clear, but still a problem nonetheless.
This is now the second significant hurdle SpaceX’s Crew Dragon astronaut spacecraft has faced in the last few days, following the revelation that NASA will not permit the company to launch astronauts until it completes an investigation into an in-flight rocket engine failure during its March 18th Starlink launch. There is likely no technical corollary for the new Falcon 9 rockets that will launch NASA astronauts, but existing Commercial Crew Program (CCP) contract rules still require SpaceX’s internal investigation be completed before it can proceed. With lives on the line, caution – within reason – is unequivocally preferable to the alternative.
Thankfully, SpaceX’s parachute test article anomaly should have a much smaller impact on Crew Dragon’s astronaut launch debut schedule, but it’s unlikely to have zero impact.
“During a planned parachute drop test [on Tuesday], the test article suspended underneath the helicopter became unstable. Out of an abundance of caution and to keep the helicopter crew safe, the pilot pulled the emergency release. As the helicopter was not yet at target conditions, the test article was not armed, and as such, the parachute system did not initiate the parachute deployment sequence. While the test article was lost, this was not a failure of the parachute system and most importantly no one was injured. NASA and SpaceX are working together to determine the testing plan going forward in advance of Crew Dragon’s second demonstration mission.”
SpaceX — March 24th, 2020
On March 24th, SpaceX says it was preparing for one of the last system-level Crew Dragon parachute tests planned before the spacecraft can be declared ready for human spaceflight. These final tests are reportedly focused on corner cases, referring to unusual but not impossible scenarios the spacecraft might encounter during operational astronaut landing attempts. Those likely include parachute deployment scenarios that are far more stressful than a nominal reentry, descent, and landing would allow.
Regardless, things did not go as planned during Tuesday’s test attempt. SpaceX primarily uses cargo planes, helicopters, and large balloons to carry its Crew Dragon test articles (not actual functional spacecraft) to the altitudes and speeds needed to achieve certain test conditions. On March 24th, SpaceX was using a helicopter – either a civilian Blackhawk or a much larger Skycrane.
For unknown reasons, the helicopter carrying the Crew Dragon test article on March 24th began to experience “instability”, likely referring to some sort of resonance (wobble, sway, oscillation, etc). Out of an abundance of caution, the pilot – likely highly trained – decided the instability was becoming an unacceptable risk and chose to drop the cargo load (a Crew Dragon mockup). Unsurprisingly, the parachute test article was not ready to drop and plummeted to the Earth without any kind of parachute deployment, likely pancaking on the desert floor shortly thereafter.
Again, it needs to be noted – as SpaceX did above – that the loss of the Crew Dragon parachute test article was entirely unrelated to the performance of the spacecraft or the parachutes it was testing. The mockup destroyed in the incident is essentially just a boilerplate mass simulator shaped like a Crew Dragon capsule to achieve more aerodynamically accurate test results. As such, it’s far simpler and cheaper than an actual Dragon spacecraft and shouldn’t take long at all to replace if SpaceX doesn’t already have a second similar mockup ready to go.
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Thankfully, that means that the loss of the test article should have next to no serious impact on Crew Dragon’s inaugural astronaut launch schedule. Planned no earlier than (NET) mid-to-late May according to NASA’s latest official statement, SpaceX and the space agency still have at least a month and a half to work through a final parachute test campaign, complete an investigation into Starlink L6’s Falcon booster engine failure, and finish several trees worth of paperwork and reviews. Delays remain likely but they shouldn’t be more than a few weeks, barring any future surprises.
In a new note to investors on Tuesday, Morgan Stanley analyst Andrew Percoco said that Tesla has one big financial question to answer for investors regarding its Robotaxi rollout, Full Self-Driving software, and Optimus.
Percoco said in the note that, for the most part, investors are still very positive about the direction the company is headed. However, there are some things the firm would like to see, and they have to do with financials.
Tesla (TSLA) Q2 2026 earnings results: miss on EPS, beat on revenue
Tesla bulls are more than convinced that the company’s Full Self-Driving software is proof it can develop physical AI. Financially, however, there are still some questions, especially on elevated spending, which CEO Elon Musk said would occur as the company works to roll out Robotaxi faster and continue developing its Optimus robot.
The latter two are where Tesla will have to prove progress to investors, as Percoco writes that both projects “will require clearer evidence that Robotaxi is scaling and more tangible Optimus proof points to support the ROI on elevated capex.”
Percoco said the second quarter earnings call did not change his long-term thesis of where Tesla is positioned in the AI race, which is out in front. However, there are concerns that weaker gross margins and higher R&D spend will stress financials, and that has “sharpened our (and investors’) focus on measurable progress across Robotaxi and Optimus.”
Additionally, Robotaxi still needs to be proven with more operation in existing cities while maintaining safety but improving how many rides it gives in any given time, he said. For Optimus, Percoco wrote that he is “still looking for evidence beyond commentary around SOP.”
Morgan Stanley put Percoco in charge of covering Tesla after long-time analyst Adam Jonas transitioned to the automotive side.
Currently, Morgan Stanley has a $415 price target on Tesla and a ‘Hold’ rating on the stock. It is trading at around $330 at the time of publication, which was 2:30 P.M. on the East Coast.
SpaceX’s massive investment in AI will make it a big winner, Argus Research said after the company’s successful earnings call last week.
The firm also upgraded shares to a Buy from Hold and set a $160 price target.
SpaceX (NASDAQ: SPCX) is currently recovering from its heavy AI infrastructure investments, as it spent nearly $16 billion in Q2 alone. The company did this primarily by monetizing high-demand GPU compute capacity at a much faster pace than traditional data center economics would suggest.
Company CFO Bret Johnsen said that SpaceX would be able to pay back anything on new deployments within a year.
There are plenty of ways the company can do this:
Leasing excess compute capacity through contracts
SpaceX has already built Colossus and Colossus II, largely for its own model training. However, much of that capacity is already rented out to third parties. It already has major deals with Anthropic, Google, and Reflection AI. These partnerships are adding billions per month to SpaceX’s spreadsheet.
High utilization driven by industry-wide scarcity
The demand for advanced AI training and inference capacity continues to exceed what is available for use. SpaceX can fill new racks quickly after they come online, so the capital deployed converts into revenue with minimal idle time.
Additionally, management and outside observers have described the new compute capital as behaving more like a cost-of-goods-sold than traditional multi-year capex, especially because of this rapid monetization pattern.
Capacity has already scaled from ~0.4 GW a year to 1.4 GW annually by the end of Q2. There are targets of more than 2 GW by year-end.
High incremental margins on the rental business once capacity is online
GPU cloud providers often operate at strong gross margins. SpaceX can monetize capacity that was already partially built or can be added efficiently. This means that incremental EBITDA margins on the rental revenue are usually high. This accelerates cash recovery relative to the gross capital outlay.
Parallel monetization of its own AI software and applications
Beyond pure infrastructure rental, SpaceX also generates revenue from Grok through subscriptions and usage, from X through ads, data, and other related services, enterprise APIs, and the planned integration of the Cursor coding tools acquisition.
These application layers ride on the same compute infrastructure and provide additional high-margin streams that could offset build-out costs. AI-segment revenue overall rose sharply to about $2.6 billion in Q2, according to Motley Fool. This was driven primarily by the infrastructure contracts, but the software side is also partially responsible.
Efficient, large-scale deployment and vertical integration advantages
SpaceX has emphasized the rapid construction of power and cooling infrastructure and favorable cost-per-megawatt economics relative to industry benchmarks in some disclosures.
Combined with its ability to scale capacity aggressively and the fact that many contracts start generating revenue within months of capacity coming online, the effective payback compresses dramatically compared with more conventional multi-year data-center projects.
SpaceX’s dominant near-term recovery path will turn the AI clusters into a hyperscale-style compute rental business for other leading AI companies while still using a portion for internal models.
Tesla headlights have caused a recall of over 20,000 of the company’s two most popular vehicles, the Model 3 and Model Y, due to the low-beam bulb exceeding the maximum allowed intensity according to federal standards.
Tesla initiated the recall with the National Highway Traffic Safety Administration (NHTSA) this morning, stating that the low-beam output “exceeds the maximum allowed intensity in the outer upper-right and outer upper-left areas of the 10U and 90U zone, as prescribed in FMVSS No. 108.”
Tesla sourced the impacted headlights from Marelli Automotive Lighting, a Mexico-based company. The recall impacts 2020-2023 Model Y vehicles and 2017-2023 Model 3 vehicles. It is estimated that every VIN in this recall is impacted by the defect.
🚨 Tesla is recalling 20,349 2020-23 Model Y vehicles and 2017-23 Model 3 vehicles due to an excessively bright headlamp low beam.
Currently, there is no remedy plan in place, as it is still being developed. pic.twitter.com/y34cIO2U0B
— TESLARATI (@Teslarati) August 11, 2026
Typically, Tesla would remedy recalls of this nature through an Over-the-Air software update, which has been a major focus of criticism by the company and its supporters because the NHTSA still refers to it as a “recall,” even though it requires no action by the vehicle owner. The fix is shipped over the internet and downloaded to the car.
However, there appears to be a potentially different solution for this problem. Tesla has not developed a remedy for this issue, so it could potentially be on the way. The big issue appears to be the fact that these recalled lamps are out of production, and this is an old body style for both vehicles. The headlights and front-end designs are completely different.
Tesla switched to another supplier when the affected headlight design was discontinued. It plans to begin notifying owners of their remedy options by September 15.
Tesla filed a petition protesting the recall to fix the vehicles’ headlight issue, but the NHTSA denied it. Now, Tesla will come up with a solution to fix it.
Tesla has one big financial question to answer for investors: Morgan Stanley
SpaceX AI investment gamble will make it a big winner, firm says
