News
SpaceX Dragon spacecraft heads to ISS as crewed version preps for debut
SpaceX’s third flight-proven Cargo Dragon spacecraft has arrived in orbit and is currently making its way uphill to the International Space Station for the 15th SpaceX resupply, scheduled for arrival around 7 am EDT July 2nd. Meanwhile, the company’s new Crew Dragon is undergoing its own earthbound trials, split between an artificial vacuum chamber and parachute drop tests over the California desert.
Following a twilight launch that brought to a spectacular close an era of older, less-reusable Falcon 9 rockets, the Cargo Dragon capsule trunk full of several tons of supplies and scientific instruments were placed into a parking orbit roughly 200 miles above Earth’s surface, trailed by a mesmerizing rainbow plume created by Falcon 9’s first and second stage over their nine-minute journey.
-
- CRS-15 minutes before an early July 29 launch. (SpaceX)
-
- Nine minutes after launch, Falcon 9’s upper stage shut off its main engine and Cargo Dragon detached. (SpaceX)
After arriving in orbit, Crew Dragon separated from Falcon 9’s second stage and officially commenced its second orbital mission roughly 25 months after its first, CRS-9 in July 2016. Alongside the three that have now flown successfully, all five of SpaceX’s remaining Commercial Resupply Services-1 (CRS-1) missions will be conducted with flight-proven Dragon spacecraft, two or three of which will see the already-reused capsules fly a third time before being officially retired.
After SpaceX’s first CRS contract comes to an end, currently scheduled for early 2020 with the CRS-20 mission, the upgraded Dragon 2 will take over all future cargo launches. Dragon 2’s cargo configuration is expected to be a slightly different version of the Crew Dragon capsule and trunk, scheduled to debut as early as late 2018, but the specifics are still somewhat hazy. Most probably, recovered Crew Dragon capsules – unlikely to ever been certified to fly NASA astronauts – will instead be refurbished after their first orbital missions, modified slightly to meet the cargo requirements, and then use to complete SpaceX’s CRS-2 contract alongside their crew transport missions.
At Naval Air Facility El Centro in Southern California, SpaceX recently completed its 16th test of Crew Dragon’s parachute system—verifying the system’s ability to slow Crew Dragon and ensure a safe landing in the unlikely event of a low altitude abort. https://t.co/OOQnAtNXJ3 pic.twitter.com/kFX7Qth3AK
— SpaceX (@SpaceX) June 26, 2018
While its predecessors continue to grow SpaceX’s experience in orbit, the Crew Dragon program is making its own impressive progress towards the first uncrewed and crewed launch debuts in late 2018 and early 2019. DM-1, the capsule tasked with that first uncrewed demonstration, is likely nearing the end of a suite of tests inside NASA’s huge Plum Brook vacuum chamber facilities, ensuring that the brand-new spacecraft behaves as expected in the extreme environment of space. If successful, the capsule will be sent on its way to Cape Canaveral, Florida to begin true prelight preparations for the first time ever, while its trunk – an expendable structure installed at the base of the craft with solar arrays, radiators, and bays for unpressurized cargo – will be sent back to the Hawthorne, CA factory to be outfitted with flight hardware, after which it will ship to Florida one to two months after the capsule arrives.
-
-
- Crew Dragon parachute tests are likely to continue into the summer to ensure NASA certification in time for DM-1. (SpaceX)
-
- Falcon 9 B1045 and it’s flight-proven Cargo Dragon head skyward, marking the end of last-gen SpaceX Falcon 9 launches. (Tom Cross)
-
- CRS-15’s ‘jellyfish’ plume glowed as Falcon 9 flew above the terminator into the morning sun. (Tom Cross)
Meanwhile, the CRS-15 Dragon capsule currently orbiting Earth will dock with the International Space Station early Monday morning and is scheduled to depart, reenter, and return to Hawthorne, CA for Flight 3 refurbishment in early August, at which point the DM-1 Crew Dragon ought to have arrived in Florida. Aside from Dragon, SpaceX has three new Falcon 9 Block 5 launches scheduled between July 20 and August 2, the boosters of which will all be recovered aboard SpaceX’s fleet of drone ships
Follow us for live updates, peeks behind the scenes, and photos from Teslarati’s East and West Coast photographers.
Teslarati – Instagram – Twitter
Tom Cross – Twitter
Pauline Acalin – Twitter
Eric Ralph – Twitter
-
Elon Musk
SpaceX’s next trillion dollar bet has nothing to do with rockets, Musk tells staff
Elon Musk told SpaceX staff AI revenue will soon dwarf rockets and Starlink combined entirely.
Elon Musk told SpaceX employees this week that artificial intelligence, not rockets, will soon carry the company’s revenue. In a roughly 29 minute internal address posted on SpaceX’s X account on Tuesday, Musk said AI revenue will pass every other line of business at SpaceX “probably in September” and pull further ahead by the fourth quarter.
The numbers he gave are specific. SpaceX currently runs 1.4 gigawatts of AI compute capacity. Musk wants that at 10 gigawatts by the end of 2027, a jump he tied directly to revenue: “if we bring 10GW of AI online by the end of next year, it will be $300 billion to $500 billion a year in revenue.” He called those “big numbers,” which undersells a projection larger than what most countries produce in a year.
We made rockets reusable and are rebuilding the internet in space. The next challenge: making life multiplanetary and understanding the true nature of the universe
Watch @ElonMusk deliver a company update to @SpaceX employees pic.twitter.com/5c8rxoCQfu
— SpaceX (@SpaceX) August 11, 2026
Musk went further on where AI fits into SpaceX’s future. “Probably in four or five years, AI will be 99% of the value of SpaceX,” he told staff, adding that digital intelligence would eventually run “a trillion times” ahead of biological intelligence as computing scales. He tied that growth to the company’s founding mission, telling employees “we must win on AI, because the future is overwhelmingly AI and robots,” with the payoff meant to help fund Starship and a Mars program that increasingly runs through Terafab, the joint Tesla, SpaceX and xAI chip plant.
Elon Musk launches TERAFAB: The $25B Tesla-SpaceXAI chip factory that will rewire the AI industry
-
None of this is entirely new territory. SpaceX told investors much the same story during its first earnings call as a public company on August 4, where Musk moved the company’s $1 trillion revenue target up a year to 2030 and said Starlink could someday carry a majority of the world’s internet. What the all hands video adds is a hard deadline and a specific power figure Musk had not given publicly before, along with a franker pitch to his own workforce that AI, not launch cadence, is now the thing SpaceX is betting its future on.
The AI revenue itself is not coming from SpaceX training its own models. It is largely Starlink acting as the network layer for xAI’s workloads, plus SpaceX renting out compute capacity directly, the same approach behind the roughly $16 billion the company spent on AI infrastructure in a single quarter.
Musk closed the video with a pitch aimed at recruiting and retention rather than investors, telling employees that anyone who helps SpaceX win the AI race will eventually get the chance to go to the moon or Mars themselves. Whether SpaceX can turn 1.4 gigawatts into 10 in seventeen months is the more immediate question, and one that will show up in quarterly numbers well before anyone leaves Earth.
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.
SpaceX’s next trillion dollar bet has nothing to do with rockets, Musk tells staff
Tesla has one big financial question to answer for investors: Morgan Stanley
