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SpaceX says crew spacecraft abort test still on track for 2019 launch
NASA recently invited members of the media to apply for access to SpaceX’s Crew Dragon in-flight abort (IFA) test and, as of December 5th, the company reaffirmed that the crucial test is still on track to launch just weeks from now.
In September, SpaceX CEO Elon Musk revealed that Crew Dragon’s IFA spacecraft and Falcon 9 was scheduled to arrive in Florida within a few weeks. Days later, NASA confirmed that the rocket and spacecraft arrived in Florida on October 3rd, sooner, in fact, than Musk had predicted. Over the next few weeks, SpaceX technicians and engineers effectively closed out Crew Dragon capsule C205, priming it for operations and installing its body panels.
On November 13th, about six weeks after arriving in Florida, SpaceX successfully tested Crew Dragon’s redesigned propellant plumbing and high-pressure gas systems by static firing its Draco thrusters and SuperDraco abort engines. The successful static fire test lasted around 9 seconds, mirroring the SuperDraco impulse and thruster inputs the spacecraft would need to demonstrate in an actual in-flight abort. Crew Dragon has four sets of two SuperDraco engines capable of producing a combined thrust of more than 130,000 lbs (570 kN), almost as much thrust as the original SpaceX Merlin 1D engines used on Falcon 9 in the early 2010s.
Meant to verify that SpaceX has successfully redesigned Crew Dragon after the spacecraft suffered a catastrophic explosion during a very similar static fire attempt, November 13th’s was followed by an exhaustive hardware inspection and data review, some of which is likely still ongoing. Although NASA’s media invite suggests that a given launch event could be just a month or so away, there is a ton of uncertainty when dealing with major launches of new hardware (like Crew Dragon), meaning delays are all but guaranteed.
During a pre-launch media briefing ahead of SpaceX’s CRS-19 Cargo Dragon launch, director of Dragon mission management Jessica Jensen answered a question about Crew Dragon’s IFA test, cautiously stating that SpaceX teams are “targeting [a] December” launch. During SpaceX’s December 5th CRS-19 launch webcast, Dragon Engineering Manager John Federspiel briefly brought up Crew Dragon, noting that SpaceX was completing “minor refurbishment” following its successful static fire.
Most notably, he stated the IFA test was “targeted for February of 2020”, while Crew Dragon’s subsequent ‘Demo-2’ astronaut launch debut was expected to follow no earlier than (NET) “the first quarter of [2020]”, implying either February or March.
As it happened, SpaceX and several media outlets almost immediately attempted to correct the record, instead suggesting that Crew Dragon’s abort test is still tracking towards a launch later this month. Given that a senior Dragon engineering manager was the one to unblinkingly – and without correction – state that IFA is NET February 2020, there’s a strong possibility that he is technically correct but was not supposed to publicize the mission’s delay. At the same time, SpaceX appears to be firm on its claim that IFA is still aiming for a late-December launch. Delays would be no surprise – Crew Dragon’s Demo-1 launch debut took an agonizing three months to go from heading to the launchpad for the first to actually lifting off, almost entirely due to minor technical bugs and NASA paperwork.
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Regardless, with less than four weeks left in 2019, SpaceX has an exceptionally tight schedule ahead of it to meet that December 2019 IFA launch goal and will effectively have to static fire IFA’s Falcon 9 before the end of the week or crush Crew Dragon’s inaugural processing time by at least a factor of four to achieve it. As such, a delay in 2020 should be all but expected at this point. With any luck, however, Crew Dragon will successfully perform its in-flight abort within the next 4-8 weeks, leaving SpaceX in a good place to prepare for its inaugural astronaut launch a few months later.
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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
