SpaceX
SpaceX’s Crew Dragon flawlessly docks with space station in spectacular orbital debut
Nearly half a decade and millions of hours of work have finally paid off after SpaceX’s Crew Dragon pulled off a flawless orbital debut, launching atop the first crew-rated Falcon 9 and docking with the International Space Station (ISS) a little over 24 hours later.
For what CEO Elon Musk described as a spacecraft with barely a part shared with the company’s already operational Cargo Dragon, such an unremarkable (in terms of surprises) launch debut is a massive achievement that speaks directly to the success of the NASA-SpaceX partnership and the exhaustive design, testing, and optimization directed at Crew Dragon. Having now completed two major trials – launch and docking – for DM-1, the spacecraft’s third and final hurdle will occur on March 8th when it attempts to safely return to Earth.
SpaceX team in Hawthorne control, Dragon docked to Station above pic.twitter.com/JUWkOrWjsH
— Elon Musk (@elonmusk) March 3, 2019
Beginning around 3:30 am and lasting til 10:45 am EST (08:30-15:45 UTC), SpaceX and NASA employees hosted live coverage of Crew Dragon’s inaugural visit to the International Space Station (ISS), a process that included multiple demonstrations of the spacecraft’s ability to approach, halt, and reverse. Almost ten minutes ahead of schedule, Crew Dragon successfully docked with the ISS in a first for SpaceX, having previously only conducted berthings with its Cargo Dragon vehicle.
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- From render…
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- to reality. (SpaceX/NASA)
Having also debuted a previously untested docking adapter (the International Docking Adapter, IDA), the Station’s three astronauts worked to open Dragon’s hatch, a task which they completed an hour or two after “capture”. This was rapidly followed by the astronauts entering SpaceX’s Crew Dragon, another historic first for the crew-rated spacecraft. They were greeted by Ripley (also known as Starwoman) and what Anne McClain described as small Earth, the stuffed globe that was included partially as a joke and a “super high tech zero-g indicator” according to Musk. After determining that Crew Dragon’s atmosphere was non-toxic, the astronauts removed breathing masks and returned to the capsule’s interior to formally welcome it to the ISS as the world’s newest orbital spacecraft, as well as the first commercially-developed vehicle meant to carry humans into orbit.
The dawn of a new era in human spaceflight pic.twitter.com/BHsfg1zYLN
— COL Anne McClain (@AstroAnnimal) March 3, 2019
While it may be unintuitive, the two dozen or so relatively slow and quiet hours that followed Crew Dragon’s launch were and remain far more important, and the spacecraft’s flawless on-orbit performance has thus far retired a huge number of concerns front and center for the first true launch of any spacecraft, let alone one designed specifically to carry astronauts and keep them safe. Thus far, Crew Dragon has done exactly that, approaching the ISS and docking with nary a hiccup, as if the rendezvous was the umpteenth and nothing out of the ordinary.
Technical achievements aside, the live coverage of Crew Dragon’s patient approach was perhaps some of the most spectacular and emotionally compelling content yet provided by SpaceX and NASA. At one point, as orbital sunset neared, a NASA ground controller requested that the spacecraft’s onboard spotlight be enabled to continue the docking approach, to which the SpaceX engineer hosting the webcast remarked on just how incredible and surreal it was to watch Crew Dragon methodically approach the station from less than 100 feet away. In fact, he had apparently spent “months” with that very same LED spotlight array on his desk, working to build, qualify, and test it to ensure that the light system was ready for spaceflight, just one of hundreds or thousands of seemingly minute details that one or several employees spent major portions of their lives working on.
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- A live view of the ISS from cameras aboard Crew Dragon. (NASA/SpaceX)
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- A better view of the solar array half of Crew Dragon’s trunk section. (NASA)
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Come launch and on-orbit operations, SpaceX and NASA employees across the US hung on this mission’s every step with a singular nervousness, focus, and pride that easily beat even the buzz that surrounded Falcon Heavy’s iconic launch debut. Humanity as a whole may have paid significantly less attention to Crew Dragon’s launch debut, but almost every SpaceX employee appeared readily cognizant of the fact that this mission symbolized something radically more important and more fundamental to the company. Founded to ultimately help humanity take permanent steps beyond Earth orbit, Crew Dragon’s thus far flawless debut brings SpaceX as close as its ever been to shouldering the heavy responsibility of launching humans into space, be they NASA astronauts, paying tourists, or Martian hopefuls.
If all continues to proceed apace, DM-1 will conclude with Crew Dragon’s first orbital-velocity reentry on March 8th. Pending that capsules refurbishment and an equally bug-free in-flight abort test NET April to June, SpaceX and NASA could conduct the first crewed launch of Crew Dragon less than six months from now in July 2019. Much work lies ahead and delays are undeniably possible (if not probably), but – as they say – so far, so good.
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SpaceX CEO Elon Musk recently confronted worries about orbital data centers and launching satellites in mass quantities in space, as some voiced concerns about crowding.
Musk’s SpaceX plans to combat the issue of needing data centers by launching them into space instead of taking up valuable real estate on Earth. It has been a major point of SpaceX’s future, including its looming IPO, which could be the largest ever.
In a recent interview filmed at SpaceX’s Starlink terminal factory in Bastrop, Texas, Elon Musk directly addressed concerns that deploying large numbers of AI satellites for orbital data centers could crowd Earth’s orbit. His message was straightforward and reassuring: space is vast beyond human intuition.
“Space is really big,” Musk said. “It’s not like space is gonna get crowded. Space is enormous. If you actually look at it relative to the Earth, the satellites are so tiny you can’t even see them.” He emphasized that even zooming in makes a satellite appear large, but from a planetary perspective, they are minuscule specks.
Elon on concerns that AI satellites will crowd space:
“Space is really big. It’s not like space is gonna get crowded. Space is enormous. If you actually look at it relative to the earth, the satellites are so tiny you can’t even see them.” https://t.co/Mvr7NpL25Q pic.twitter.com/5Fi629Rii7
— Sawyer Merritt (@SawyerMerritt) June 8, 2026
Musk pointed to SpaceX’s real-world experience operating roughly 10,000 Starlink satellites as evidence that large constellations can be managed safely. “We’ve got a pretty good idea of how to operate just really large constellations and do it safely,” he noted. SpaceX remains the only operator with meaningful experience at this scale, giving the company unique insight into tight orbital packing without compromising safety
The discussion highlighted SpaceX’s plans for “AI1” satellites—essentially orbiting racks of AI compute powered by massive solar arrays and cooled via radiative panels in space’s vacuum.
These satellites leverage proven Starlink V3 technology, making them simpler to design than communications satellites. A first-generation unit targets around 150 kW peak power, with a 70-meter wingspan for solar panels and radiators. Laser links will connect them to each other and the Starlink network, delivering low-latency access (on the order of a few milliseconds from low-Earth orbit).
FCC accepts SpaceX filing for 1 million orbital data center plan
Musk framed orbital data centers as a practical solution to Earth’s constraints on AI growth. Ground-based facilities face power shortages, water demands for cooling, and grid limitations. In space, constant sunlight (no day-night cycle), vacuum radiative cooling, and abundant solar energy offer clear advantages.
Production will ramp up at an expanded “Gigasat” factory in Bastrop, with solar manufacturing already underway and full AI satellite output expected at reasonable volume by the end of 2027. Starship’s rapid, high-volume launch capability, aiming for multiple flights per hour, will make massive deployment feasible.
Critics sometimes raise risks like space debris or Kessler syndrome, but Musk’s response underscores scale: even a million satellites would represent an imperceptible fraction of available orbital volume when viewed against Earth’s size. SpaceX’s automated collision avoidance and deorbiting designs for Starlink further mitigate concerns.
This vision ties into broader ambitions. Musk sees orbital AI compute as a step toward harnessing more of the Sun’s energy, advancing humanity on the Kardashev scale from a Type 0 civilization toward Type 1 and eventually Type 2. By moving power-hungry data centers off-planet, SpaceX aims to unlock orders-of-magnitude more compute while preserving Earth’s resources.
Musk’s comments should ease public anxiety. With proven operational expertise, incremental engineering, and the immensity of space itself, orbital data centers represent not overcrowding, but smart expansion into the final frontier.
The Ontario Teachers’ Pension Plan (OTPP) stands to reap one of the most extraordinary returns in pension fund history thanks to a bold 2019 investment in SpaceX.
According to a recent report from The Globe and Mail, the Toronto-based fund invested roughly $300 million CAD (~$220 million USD at the time) in Elon Musk’s space company as its inaugural deal through the Teachers’ Innovation Platform.
At SpaceX’s anticipated $1.75 trillion IPO valuation, set for a mid-June debut on Nasdaq under ticker $SPCX, that stake could now be worth up to $11.6 billion USD. This would represent a roughly 50x return and easily become OTPP’s most successful single investment ever.
The fund manages $279 billion in assets for approximately 346,000 working and retired teachers in Ontario, potentially delivering an average boost of around $33,500 per member if fully realized.
SpaceX has filed its S-1 and plans to price shares at $135 each, aiming to raise a record $75 billion in what would be the largest IPO in history, surpassing Saudi Aramco. The company reported $18.67 billion in revenue for 2025, driven primarily by Starlink satellite internet growth and NASA contracts, though it continues to post significant losses tied to ambitious R&D in Starship and AI initiatives.
Important pieces moving forward include:
- Starlink Expansion: The satellite broadband service is scaling rapidly, targeting global connectivity, especially in underserved rural and remote areas. This segment offers massive recurring revenue potential as numbers climb.
- Starship and Reusability Leadership: SpaceX’s fully reusable Starship aims to slash launch costs dramatically, enabling frequent missions, Mars ambitions, and lucrative government/defense contracts. Success here could unlock exponential growth.
- AI and Diversification: Recent moves, including ties to xAI, position SpaceX in high-growth AI infrastructure, broadening beyond traditional aerospace.
- Validation Scrutiny: While the $1.75 trillion target excites investors, analysts like Morningstar value the company closer to $780 billion, citing high multiples (around 90x trailing revenue) and execution risks. A 180-day lockup period will prevent early investors like OTPP from selling immediately post-IPO.
The irony has not been lost on observers. Ontario’s government previously canceled a Starlink rural internet contract amid political tensions involving Musk, yet the pension fund’s savvy investment, made when SpaceX was valued around $33-36 billion, and Starlink was nascent, delivers outsized gains independent of politics.
For OTPP, this windfall strengthens its already solid 111 percent funding ratio and underscores the value of patient, innovation-focused capital allocation.
For SpaceX, the IPO marks a new chapter: greater transparency, access to public markets for talent retention and growth capital, and heightened pressure to deliver on its multi-planetary vision.
All eyes are fixed on whether SpaceX can justify its lofty valuation through sustained execution. For Ontario teachers, the returns are already stellar, but SpaceX, like other Musk companies in the past, has plenty of things to prove. Perhaps the most ideal person for the job is at the helm, hoping to bring the company to a massive valuation.
Elon Musk
SpaceX’s amended S-1 is sparking a major Tesla merger conversation
A single line in SpaceX’s amended S-1 just sent Tesla stock down 5% in one day.
A single line buried in SpaceX’s amended S-1 filing is doing more to move Tesla’s stock price than anything Tesla itself has announced in months. The clause, disclosed as SpaceX prepares for what could be the largest IPO in Wall Street history, states that the company “may issue a significant amount of equity in connection with future transactions.” While this may be seen as boilerplate language in S-1 filings, the historical ties between SpaceX and Tesla, and with Elon Musk reportedly discussing a possible merger with close colleagues, investors are interpreting it as something closer to a signal.
The concern among institutional investors like Gary Black, managing director of The Future Fund, pointed directly to the amended filing on X, saying it “strongly suggests more SPCX equity will be issued,” which could potentially be used to acquire Tesla. He estimated such a deal could be 28% dilutive to Tesla shareholders since SpaceX would likely command a significantly higher valuation multiple. Black added that institutional investors he knows hate the idea of a combination because they prefer pure plays over conglomerates, which he said “nearly always gravitate to the lowest common multiple.”
The Tesla and SpaceX merger everyone is talking about is quietly building
The bull case runs the math differently. Tesla influencer and retail shareholder advocate AleXandra Merz pushed back on what she called a widespread misunderstanding of how merger-of-equals deals actually work. Rather than simply splitting the difference between two market caps, a merger exchange ratio is negotiated based on relative fair market values, meaning the lower valued company typically sees its stock reprice upward toward the deal value.
Under her model, SpaceX enters at a $2.5 trillion valuation and Tesla at $1.6 trillion, producing a combined entity worth $4.1 trillion split evenly between both shareholder groups. That implies Tesla’s side of the deal would be valued at $2.05 trillion, a gain of roughly $450 billion from its current market cap. She cited Dow-DuPont and CBS-Viacom as historical examples of how markets reprice both companies toward the announced exchange ratio after a deal is unveiled.
What does a Merger of Equals mean to Elon’s compensation packages?
Well, it changes everything.
Enjoy https://t.co/uekCldyITw pic.twitter.com/kolq1C9qTu
— AleXandra Merz 🇺🇲 (@TeslaBoomerMama) June 1, 2026
The SpaceX S-1 amendments also revealed just how much financial infrastructure already binds the two companies together. As Teslarati has reported, SpaceX purchased $697 million in Tesla Megapacks, $131 million in Cybertrucks, and the two companies have shared supply chain resources, and semiconductor fabrication plans since well before any merger conversation became public. A retail poll by Tesla influencer Sawyer Merritt is finding that 36% of respondents do not plan to buy SpaceX shares at IPO and 15.3% saying their decision depends on the valuation.
Do you plan on buying @SpaceX stock at its IPO?
— Sawyer Merritt (@SawyerMerritt) June 1, 2026
Whether the merger happens or not, the amended filing is seemingly moving markets and sharpened a debate that is no longer theoretical. SpaceX is weeks away from trading publicly, and Tesla shareholders are now watching every word of every filing for clues about what Musk plans to do next.
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