SpaceX
NASA and SpaceX will determine fate of Crew Dragon launch debut this Friday
Although the chances of additional delays are high, the orbital launch debut of SpaceX’s Crew Dragon spacecraft remains stoically targeted for 2:47 am EDT (07:47 UTC) on March 2nd, less than ten days from today.
Known as DM-1, the unproven SpaceX vehicle’s autonomous demonstration mission is a critical milestone along the road to assured US access to the International Space Station (ISS), without which NASA will be forced to continue procuring seats on Russian Soyuz missions with aggressively inflated price tags. If everything goes exactly as planned, a successful DM-1 could translate into the company’s first crewed launch as early as July 2019.
Targeting March 2 for Crew Dragon's first flight to the @Space_Station https://t.co/oJRtDhV3aL pic.twitter.com/lLw1FJHLvI
— SpaceX (@SpaceX) February 6, 2019
Following a nominal mission plan, the first spaceworthy Crew Dragon will dock with the ISS a little over 24 hours after launch (March 3rd) with around 180 kg (400 lb) of cargo for the station’s six-astronaut crew. Five days later (March 8th), Crew Dragon will depart from the ISS, detach its expendable trunk, and reenter Earth’s atmosphere for a soft landing in the Atlantic Ocean. Throughout these operations, ISS astronauts, NASA technicians and operators, and a range of SpaceX employees will conduct extensive observations and tests of the new spacecraft’s performance during all mission phases, ranging from on-orbit docking (a new technology for SpaceX) to Atlantic Ocean recovery operations.
Once the capsule has been extricated from the ocean, SpaceX’s spacecraft refurbishment technicians will be faced with an extraordinary challenge, upon which the date of Crew Dragon’s first crewed launch will directly hinge. Assuming splashdown ops are nominal and Dragon is returned safely to Florida, it’s safe to assume that SpaceX will transport the spacecraft to its Hawthorne factory, at which point its engineers and technicians will have roughly two months to prepare it for another launch. Known as an in-flight abort (IFA) test, SpaceX specifically opted to perform the spacecraft safety check despite the fact that NASA did not explicitly require its commercial providers (Boeing and SpaceX) to do so. SpaceX completed Crew Dragon’s pad abort test – required by NASA – almost four years ago, while Boeing will not perform an in-flight abort before launching astronauts and has its pad abort scheduled no earlier than (NET) May 2019.
-
- Falcon 9 B1051 has spent several months testing at SpaceX’s McGregor, Texas facilities in preparation for DM-1. (SpaceX)
-
- The first orbit-ready Crew Dragon spacecraft stands beside its human-rated Falcon 9, December 2018. (SpaceX)
-
- Crew Dragon shows off its conformal (i.e. curved) solar array while connected to SpaceX’s sleek Crew Access Arm (CAA). (SpaceX)
-
- SpaceX completed a successful static fire of the first Falcon 9 rated for human flight on January 24th. (SpaceX)
SpaceX’s IFA test is designed to verify that Crew Dragon is capable of safely extricating its astronaut passengers from a failing rocket at the point of peak aerodynamic (and thus mechanical) stress during launch, known as Max Q. Combined with a pad abort demonstration, where the above situation is replicated but with the rocket and spacecraft motionless on the launch pad, the engineering assumption is that successful aborts at both standstill and Max Q verify that a given spacecraft has proven that it can essentially abort and carry astronauts to safety at any point during launch.
“The launch scenario where an abort is initiated during the ascent trajectory at the maximum dynamic pressure (known as max Q) is a design driver for the launch abort system. It dictates the highest thrust and minimum relative acceleration required between Falcon 9 and the aborting Dragon … Dragon would separate from Falcon 9 at the interface between the trunk and the second stage… Under these conditions, the Falcon 9 vehicle would become uncontrollable and would break apart.” – SpaceX FAA permit, 2018
Aside from a boilerplate Merlin Vacuum engine on the second stage, SpaceX’s IFA test is set to fly on real Falcon 9 hardware that will almost certainly be consigned to total destruction at the point of abort, around 90 seconds after launch. SpaceX’s decision to expend an entirely flightworthy Falcon 9 Block 5 rocket – featuring a booster capable of supporting anywhere from 5-100 lifetime missions – is a tangible demonstration of the company’s commitment to crew safety above all else, although NASA will either partially or fully compensate SpaceX for the milestone. Set to occur no earlier than June 2019, the IFA schedule is explicitly constrained by the successful launch and recovery of Crew Dragon after DM-1 – any delays to that mission will likely translate into IFA delays, which will translate into delays for the first crewed mission (DM-2).
SpaceX’s Cargo Dragon engineers and technicians have a solid amount of experience refurbishing the spacecraft for cargo missions to the ISS, although the average turnaround for flight-proven capsules currently stands around 18-24 months, not exactly on the heels of the 2-3 months currently alotted for the first Crew Dragon. Thanks to the fact that the IFA Crew Dragon does not need to be refurbished to the standards of orbital flight for its second launch, it’s at least conceivable that that aspirational schedule is within reach. SpaceX’s first crewed demonstration mission (DM-2) could occur as early as one month after a successful IFA (July 2019), pending the completion of joint NASA-SpaceX readiness reviews.
Known as flight readiness reviews (FRRs), those joint reviews are no less significant for DM-1, even if they likely are underwhelmingly marked by a copious amount of slideshow presentations and sitting around tables in meeting rooms. The purpose of the reviews (at least nominally) is to essentially have SpaceX attempt to convince NASA (as empirically as possible) that they are ready to launch Crew Dragon. According to NASA, that review will end NET 6pm EDT (23:00 UTC) on February 22nd, followed one hour later by an official press conference featuring NASA and SpaceX officials.
Check out Teslarati’s newsletters for prompt updates, on-the-ground perspectives, and unique glimpses of SpaceX’s rocket launch and recovery processes!
Investor's Corner
SpaceX IPO is coming, CEO Elon Musk confirms
However, it appears Musk is ready for SpaceX to go public, as Ars Technica Senior Space Editor Eric Berger wrote an op-ed that indicated he thought SpaceX would go public soon. Musk replied, basically confirming it.
Elon Musk confirmed through a post on X that a SpaceX initial public offering (IPO) is on the way after hinting at it several times earlier this year.
It also comes one day after Bloomberg reported that SpaceX was aiming for a valuation of $1.5 trillion, adding that it wanted to raise $30 billion.
Musk has been transparent for most of the year that he wanted to try to figure out a way to get Tesla shareholders to invest in SpaceX, giving them access to the stock.
He has also recognized the issues of having a public stock, like litigation exposure, quarterly reporting pressures, and other inconveniences.
However, it appears Musk is ready for SpaceX to go public, as Ars Technica Senior Space Editor Eric Berger wrote an op-ed that indicated he thought SpaceX would go public soon.
Musk replied, basically confirming it:
As usual, Eric is accurate
— Elon Musk (@elonmusk) December 10, 2025
Berger believes the IPO would help support the need for $30 billion or more in capital needed to fund AI integration projects, such as space-based data centers and lunar satellite factories. Musk confirmed recently that SpaceX “will be doing” data centers in orbit.
AI appears to be a “key part” of SpaceX getting to Musk, Berger also wrote. When writing about whether or not Optimus is a viable project and product for the company, he says that none of that matters. Musk thinks it is, and that’s all that matters.
It seems like Musk has certainly mulled something this big for a very long time, and the idea of taking SpaceX public is not just likely; it is necessary for the company to get to Mars.
The details of when SpaceX will finally hit that public status are not known. Many of the reports that came out over the past few days indicate it would happen in 2026, so sooner rather than later.
But there are a lot of things on Musk’s plate early next year, especially with Cybercab production, the potential launch of Unsupervised Full Self-Driving, and the Roadster unveiling, all planned for Q1.
News
SpaceX reportedly mulling IPO, eyeing largest of all time: report
“I do want to try to figure out some way for Tesla shareholders to participate in SpaceX. I’ve been giving a lot of thought to how to give people access to SpaceX stock,” Musk said.
SpaceX is reportedly mulling an initial public offering, eyeing what would be the largest valuation at the time of availability of all time, a new report from Bloomberg said on Tuesday.
It is one of many reports involving one of Elon Musk’s companies and a massive market move, as this is not the first time we have seen reports of an IPO by SpaceX. Musk himself has also dispelled other reports in the past of a similar nature, including an xAI funding round.
SpaceX and Musk have yet to comment on the report. In the past, untrue reports were promptly replied to by the CEO; this has not yet gained any response, which is a good sign in terms of credibility.
However, he said just a few days ago that stories of this nature are inaccurate:
“There has been a lot of press claiming SpaceX is raising money at $800B, which is not accurate. SpaceX has been cash flow positive for many years and does periodic stock buybacks twice a year to provide liquidity for employees and investors. Valuation increments are a function of progress with Starship and Starlink and securing global direct-to-cell spectrum that greatly increases our addressable market. And one other thing that is arguably most significant by far.”
There has been a lot of press claiming @SpaceX is raising money at $800B, which is not accurate.
SpaceX has been cash flow positive for many years and does periodic stock buybacks twice a year to provide liquidity for employees and investors.
Valuation increments are a…
— Elon Musk (@elonmusk) December 6, 2025
Musk has discussed a potential IPO for SpaceX in recent months, as the November 6 shareholder meeting, as he commented on the “downsides” of having a public company, like litigation exposure, quarterly reporting pressures, and other inconveniences.
Nevertheless, Musk has also said he wants there to be a way for Tesla shareholders to get in on the action. At the meeting in early November, he said:
“I do want to try to figure out some way for Tesla shareholders to participate in SpaceX. I’ve been giving a lot of thought to how to give people access to SpaceX stock.”
Additionally, he added:
“Maybe at some point., SpaceX should become a public company despite all the downsides of being public.”
Musk has been historically reluctant to take SpaceX public, at times stating it could become a barrier to colonizing Mars. That does not mean it will not happen.
Bloomberg’s report cites multiple unidentified sources who are familiar with the matter. They indicate to the publication that SpaceX wants to go public in mid-to-late 2026, and it wants to raise $30 billion at a valuation of around $1.5 trillion.
This is not the first time SpaceX has discussed an IPO; we reported on it nine years ago. We hope it is true, as the community has spoken for a long time about having access to SpaceX stock. Legendary investor Ron Baron is one of the lucky few to be a SpaceX investor, and said it, along with Tesla, is a “lifetime investment.”
Tesla bull Ron Baron reveals $100M SpaceX investment, sees 3-5x return on TSLA
The primary driver of SpaceX’s value is Starlink, the company’s satellite internet service. Starlink contributes 60-70 percent of SpaceX’s revenue, meaning it is the primary value engine. Launch services, like Falcon 9 contracts, and the development of Starship, also play supporting roles.
SpaceX reached an incredible milestone with its Starlink program with a launch last night, as the 3,000th satellite of the year was launched into low Earth orbit.
On Monday, SpaceX also achieved its 32nd flight with a single Falcon 9 rocket from NASA’s Kennedy Space Center.
The mission was Starlink 6-92, and it utilized the Falcon 9 B1067 for the 32nd time this year, the most-used Falcon booster. The flight delivered SpaceX’s 3000th Starlink satellite of the year, a massive achievement.
There were 29 Starlink satellites launched and deployed into LEO during this particular mission:
Falcon 9 launches 29 @Starlink satellites from Florida pic.twitter.com/utKrXjHzPN
— SpaceX (@SpaceX) December 9, 2025
SpaceX has a current goal of certifying its Falcon boosters for 40 missions apiece, according to Spaceflight Now.
The flight was the 350th orbital launch from the nearby SLC-40, and the 3,000 satellites that have been successfully launched this year continue to contribute to the company’s goal of having 12,000 satellites contributing to global internet coverage.
There are over five million users of Starlink, the latest data shows.
Following the launch and stage separation, the Falcon 9 booster completed its mission with a perfect landing on the ‘Just Read the Instructions’ droneship.
The mission was the 575th overall Falcon 9 launch, highlighting SpaceX’s operational tempo, which continues to be accelerated. The company averages two missions per week, and underscores CEO Elon Musk’s vision of a multi-planetary future, where reliable connectivity is crucial for remote work, education, and emergency response.
As Starlink expands and works toward that elusive and crucial 12,000 satellite goal, missions like 6-92 pave the way for innovations in telecommunications and enable more internet access to people across the globe.
With regulatory approvals in over 100 countries and millions of current subscribers, SpaceX continues to democratize space, proving that reusability is not just feasible, but it’s also revolutionary.
Tesla FSD’s newest model is coming, and it sounds like ‘the last big piece of the puzzle’
SpaceX IPO is coming, CEO Elon Musk confirms
