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SpaceX Crew Dragon spacecraft put through its paces at orbital space station
SpaceX’s first human-proven Crew Dragon spacecraft is being put through its paces in orbit by NASA and even Roscosmos astronauts, according to senior agency leader.
Promoted to lead NASA’s Human Spaceflight Office (HEOMD) days ago, former Commercial Crew Program (CCP) manager Kathy Lueders primarily spoke about her new job – guiding the Artemis Moon landing program – but did manage to answer some questions about her former post. Successfully launched on May 30th, SpaceX’s inaugural Crew Dragon astronaut mission also marked NASA’s first domestic astronaut launch since June 2011, an achievement that unsurprisingly helped catapult Lueders up the ranks just a few weeks later.
Thus far, SpaceX’s first crewed launch is arguably the crowning achievement of both the company and the commercial spaceflight industry it’s largely come to represent. The mission isn’t over yet, however, and International Space Station (ISS) astronauts are reportedly hard at work as they continue to test the historic Crew Dragon spacecraft and push it to a whole new genre of limits.
According to Lueders and backed up by a different NASA executive about a week prior, “Crew Dragon has been doing great” over the ~20 days it’s spent docked to the ISS. NASA and its orbiting astronauts have already done a significant amount of work to verify that the spacecraft is in good health and capable of serving as a lifeboat – at a moment’s notice – for the space station’s crew. In the coming weeks, it’s likely that Bob Behnken, Doug Hurley, Chris Cassidy, and (maybe) a Russian cosmonaut will explicitly rehearse such an emergency, testing Crew Dragon’s ability to depart the ISS in a matter of minutes.
As part of that work, Lueders says NASA astronauts are waking Dragon up and performing checkouts weekly before returning the spacecraft to a mysterious “sleep mode”. In the coming weeks, NASA will further test Crew Dragon by boarding four of the space station’s five current astronauts, including one of two Russian cosmonauts.
SpaceX hasn’t crossed the finish line just yet, though. Lueders also shed additional light on that critical section of Crew Dragon’s astronaut launch debut, confirming that NASA still plans to have the spacecraft return to Earth with Behnken and Hurley in early August. Two opposing goals will continue to tug at that date. On one hand, having both astronauts on the ISS as long as possible helps NASA maximize the efficient use and maintenance of the ultra-expensive orbital laboratory. However, the sooner Crew Dragon is able to complete its first crewed reentry, splashdown, and recovery; the sooner SpaceX and NASA and can fully debrief from the mission, analyze the recovered hardware, and complete paperwork for SpaceX’s next astronaut launch.
Known as Crew-1, SpaceX will send three NASA astronauts and one JAXA (Japanese) astronaut to the ISS for a full six months (~180 days), beginning what could be years of operational Crew Dragon astronaut ferry missions. Crew-1 is currently scheduled to launch no earlier than (NET) August 30th but that date is heavily contingent upon post-Demo-2 reviews and is mainly a placeholder. For now, Crew Dragon C206 is in good health and thus has at least another month and a half to look forward to at the International Space Station.
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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
