SpaceX
SpaceX’s Crew Dragon returns to port as NASA praises successful launch debut
SpaceX’s Crew Dragon spacecraft successfully returned to Port Canaveral aboard recovery vessel GO
The culmination of the better part of a decade of constant work and NASA support, the flawless success of SpaceX’s DM-1 Crew Dragon mission is a testament – above all else – to the many hundreds of thousands or millions of hours SpaceX employees have put into the spacecraft’s design, production, operation, and recovery. While just one half of a critical pair of demonstrations, DM-1’s success should translate into extremely good odds for Crew Dragon’s Demo Mission 2 (DM-2), in which SpaceX will launch two NASA astronauts to the International Space Station on the company’s first crewed launch ever.
“I can’t believe how well the whole mission has gone. I think on every point, everything’s been nailed, all the way along—particularly this last piece. We were all very excited to see re-entry and parachute and drogue deploy and main deploy, splashdown—everything happened just perfectly, right on time the way that we expected it to. It was beautiful.” – Benji Reed, Director of Crew Mission Management, SpaceX
SpaceX Director of Crew Mission Management Benji Reed’s unqualified appraisal of Crew Dragon’s debut serves as a perfect example of the attitude almost universal throughout the company in the twilight of the mission’s completion. While sources suggest that there were more than a few hiccups during the mission, they were extremely mild and came as no surprise for what effectively amounted to the first shakeout mission of a brand new vehicle. According to CEO Elon Musk, Crew Dragon shares almost no hardware – aside from its Draco thrusters – with Cargo Dragon, the uncrewed orbital spacecraft SpaceX has now launched into orbit 17 times in the last eight years.
Crew Dragon approaches the ISS during its orbital launch debut, March 3rd. (NASA) 
Cargo Dragon is seen here attached to the ISS shortly before the completion of SpaceX’s CRS-16 resupply mission, January 7th. (NASA) 
Crew Dragon was successfully recovered aboard GO Searcher on March 8th. (SpaceX) 
Cargo Dragon completed its most recent mission, CRS-16, on January 13th. (SpaceX)
For such a complex spacecraft, not to mention an almost clean-sheet redesign, it’s nothing short of extraordinary that its debut launch was so utterly free of significant anomalies or unexpected behavior. Separated into the distinct phases of launch, free-flight, ISS docking/undocking, and recovery, Crew Dragon reportedly performed almost perfectly in all cases, “right on time” according to Mr. Reed. NASA’s CCP Deputy Manager Steve Stich was equally enthusiastic and elated about the spacecraft’s performance.
“On-orbit we got a lot of great data on the vehicle in terms of the thermal performance and power performance; the vehicle really did better than we expected. Then the rendezvous was phenomenal as we came in and checked out those sensors. Today; the undocking, watching how those systems performed, that went flawlessly. It’s a very tight sequence between undocking and de-orbit burn, how the nose cone performed, how the de-orbit burn was executed, then the entry was phenomenal.”
“I don’t think we saw really anything in the mission so far—and we’ve got to do to the data reviews—that would preclude us from having the crewed mission [DM-2] later this year.”
– Steve Stich, CCP Deputy Manager, NASA
Following Crew Dragon’s March 9/10 return to Port Canaveral, the spacecraft is expected to immediately enter into a post-flight analysis and data-gathering phase that will quickly transfer into refurbishment to prepare for the capsule’s second (albeit suborbital) launch, a critical in-flight abort (IFA) test that could happen as early as April according to Elon Musk. While official planning schedules point towards the IFA occurring closer to June or even July, it’s reasonable to assume that those official schedules are highly conservative. If Crew Dragon’s significantly waterproofing and reusability upgrades make a major difference, it’s far from inconceivable that the vehicle’s second abort test could actually occur ahead of schedule, although it’s unlikely.
The in-flight abort test will effectively be a repeat of SpaceX’s successful 2015 pad abort demonstration, albeit with the stationary launch pad replaced with a full Falcon 9 rocket – first and second stage – traveling at supersonic speeds. If Crew Dragon can safely abort in such challenging conditions, it’s almost guaranteed that it will be able to safely abort at any time during a Falcon 9 launch, all the way from the moment fueling begins on the ground into orbital operations. In fact, CEO Elon Musk recently suggested that the same SuperDraco abort thrusters that enable those safe escapes could potentially be used to add yet another level of redundancy during landing, standing in for parachute damage or failures to slow the capsule down and minimize or prevent injuries during splashdown.
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Elon Musk has firmly denied recent media reports suggesting that SpaceX has reduced its target valuation for an upcoming initial public offering.
The denial came directly from the SpaceX and Tesla frontman on his social media platform X, where he responded with a single word, “False,” to a post from ZeroHedge that cited Bloomberg sources.
This swift rebuttal underscores Musk’s ongoing effort to manage speculation surrounding one of the most anticipated market debuts in recent history.
False
— Elon Musk (@elonmusk) May 29, 2026
According to the disputed reports, SpaceX had lowered its IPO valuation goal to at least $1.8 trillion from previous ambitions exceeding $2 trillion.
The claims emerged amid growing anticipation for the company’s confidential S-1 filing, which positions it for a potential public listing as early as June.
Some had pointed to strong revenue growth, particularly from the Starlink satellite internet service, which contributed heavily to the firm’s 2025 figures of $18.7 billion. Yet challenges persist in other areas, including substantial investments and losses tied to ambitious projects like Starship development and artificial intelligence initiatives, which plan to make life multiplanetary eventually.
Musk’s response highlights a pattern in which he actively counters what he views as inaccurate portrayals of his companies’ trajectories.
SpaceX, already valued privately at extraordinary levels, stands as a cornerstone of Musk’s empire alongside Tesla and xAI. The entrepreneur has long emphasized the transformative potential of reusable rockets and global broadband access, factors that fuel investor enthusiasm despite operational hurdles.
By rejecting the valuation downgrade narrative, Musk signals confidence in SpaceX’s fundamentals and its readiness for public markets on terms favorable to its long-term vision. People have been waiting a very long time to invest in SpaceX, and the valuation, as well as the introductory share price, is not going to need adjusting.
They’ll have plenty of suitors.
This episode reflects broader dynamics in the technology sector, where rumors often swirl around high-profile entities. Musk’s direct engagement with media narratives serves to maintain transparency and control the narrative around his ventures.
As SpaceX prepares for greater scrutiny in public markets, the founder’s denial reinforces optimism about its prospects. Supporters argue that the company’s innovative edge positions it for enduring success, far beyond short-term valuation debates. With the denial now public, attention turns to forthcoming regulatory filings that could provide clearer insights into SpaceX’s strategy and financial health.
The coming weeks promise to reveal more about how SpaceX will transition into a publicly traded powerhouse.
Elon Musk
The Tesla and SpaceX merger everyone is talking about is quietly building
Tesla and SpaceX may be closer to merging than Wall Street or either company is admitting.
Elon Musk has reportedly discussed merging Tesla and SpaceX with people close to him, according to CNBC, which cited sources familiar with the conversation. Tesla employees have long expected such a transaction and the topic is openly discussed internally, according to internal sources. With SpaceX is days away from kicking off its Wall Street roadshow for what could be the largest IPO in market history, this would be the first time the company will have public market currency to execute a stock-for-stock deal with Tesla.
The financial logic for a merger would make sense. A combined SpaceX and Tesla would create a conglomerate spanning rockets, satellites, electric vehicles, AI infrastructure, and energy storage valued at roughly $3.35 trillion to $3.6 trillion based on SpaceX’s IPO target range and Tesla’s current market capitalization. The two companies are already more intertwined than most people realize. SpaceX bought $697 million worth of Tesla Megapack systems for xAI data centers and $131 million worth of Cybertrucks. Tesla invested $2 billion in xAI, which subsequently merged with SpaceX. Past transactions also include Tesla selling solar equipment and parts to SpaceX, and SpaceX helping with Cybertruck materials.
Will Tesla join the fold? Predicting a triple merger with SpaceX and xAI
Musk himself signaled where this was heading in November 2025 when he posted on X, “My companies are, surprisingly in some ways, trending towards convergence.” Tesla and SpaceX announced a joint semiconductor fabrication facility in Austin called Terafab on the Gigafactory Texas campus, covering two advanced chip factories, with one serving Tesla’s AI needs for vehicles and Optimus robots, the other targeting space-based data centers under SpaceX’s infrastructure vision.
Wedbush analyst Dan Ives places the probability of a merger at 80% to 90% with a target completion in the first half of 2027. The mechanics of a deal became possible the moment SpaceX filed its S-1. Legal experts said a merger likely would not spark antitrust issues but would raise concerns among shareholders in each company, with questions around which company would be the parent, how a stock swap would take place, and who determines the appropriate price. Musk holds about 20% of Tesla’s equity but controls 85.1% of SpaceX’s voting power through a super-voting share class, meaning he would largely be negotiating the terms with himself.
Not everyone is convinced the timing is imminent. Traders on Kalshi place only 33% odds that a merger will happen before May 2027. The more immediate concern for Tesla shareholders is whether the SpaceX IPO pulls capital and Musk’s attention away from Tesla before any merger consolidates the upside for both.
What is clear is that the structural groundwork is already being laid. The Terafab announcement, the xAI merger, the shared supply chain, the cross-company balance sheet transactions, and now the IPO all point in the same direction. Whether the merger follows in 2027 or later, the two companies are already operating more like divisions of a single entity than independent competitors.
Elon Musk
NASA’s first human outpost on the Moon starts now – SpaceX on deck
NASA named the rovers, landers, and vendors that will build America’s first Moon Base.
NASA has laid out its most detailed Moon Base plan to date, describing a permanent outpost near the Moon’s south pole that the agency intends to build over the coming decade as a direct stepping stone to Mars. “The Moon Base will be America’s and humanity’s first outpost on another celestial world,” NASA Administrator Jared Isaacman said, adding that every mission crewed and uncrewed “will be a learning opportunity as we return to the lunar surface, build the infrastructure to stay, and master the skills required to live and operate in one of the most demanding and dangerous environments imaginable.”
The plan is structured in three phases involving both uncrewed and crewed missions to deliver equipment, vehicles, and infrastructure to the surface, with the first three moon base missions targeted to launch before the end of 2026.
Moon Base I, targeting fall 2026, will use Blue Origin’s Blue Moon Mark 1 lander to deliver scientific instruments to the Shackleton Connecting Ridge, the same region where Artemis astronauts will land. Moon Base II will send Astrobotic’s Griffin lander carrying more than 1,100 pounds of cargo including Astrolab’s FLIP rover to begin developing mobility systems on the surface. Moon Base III will carry the Lunar Vertex science mission on Intuitive Machines’ Nova-C Trinity lander to study lunar swirls near the south pole, with ESA and Korean science payloads aboard.
On the rover side, NASA awarded Astrolab $219 million and Lunar Outpost $220 million to build the first phase of Lunar Terrain Vehicles, with both rovers targeted for deployment to the lunar surface by 2028. Astrolab’s crewed rover weighs roughly 2,000 pounds and can reach over 6 mph. Lunar Outpost’s Pegasus rover can operate autonomously or via remote control at over 9 mph. Blue Origin separately received $188 million with an option worth $280.4 million to deliver cargo landers for rover transport.
NASA also confirmed that MoonFall, a mission deploying four survey drones to scout Artemis landing sites, has selected Firefly Aerospace to build the transport spacecraft, with a 2028 launch target.
SpaceX sits at the center of that commercial layer. SpaceX holds the NASA Human Landing System contract for the Starship-derived lander that will put astronauts on the surface under Artemis IV, currently targeting 2028. Before that can happen, SpaceX must demonstrate in-orbit propellant transfer at scale, a process requiring multiple Starship tanker launches to fuel a single mission. Water ice at the lunar south pole is central to the base’s long-term viability, as it can be converted into drinking water, breathable oxygen, and rocket fuel, directly reducing dependence on Earth resupply. That resource loop becomes far more practical if Starship can land and be refueled on or near the Moon itself.
Elon Musk has publicly stated that Starship V3, which recently completed its first flight, should be capable enough for initial Mars missions. The Moon Base plan announced Tuesday is the infrastructure layer that connects everything between those two ambitions, and SpaceX is the only American company currently contracted to build the rocket that gets humans to either destination.
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Elon Musk strikes down reports on SpaceX IPO rumors
