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SpaceX’s drone ships near return-to-action with Block 5 Falcon 9 landings
Teslarati photographer Pauline Acalin’s recent trips to drone ship Just Read The Instructions’ berth in Port of San Pedro shows that SpaceX technicians are nearly done preparing the hibernating vessel for a return to Falcon 9 rocket recoveries in the Pacific Ocean, a ten-month drought likely to end for good on July 20th.
Although it’s hard to believe, SpaceX’s West Coast autonomous spaceport drone ship (ASDS) has been effectively marooned at its Port of Los Angeles berth for more than nine full months, with the vessel’s last recovery occurring just after the October 9 launch of ten Iridium NEXT satellites, the fourth of five SpaceX Vandenberg launches in 2017 (and the fourth of four West Coast booster landings).
SpaceX’s West coast drone ship Just Read The Instructions getting some much needed fresh paint in 2017. (Instagram, anonymous)
Three months after that October mission and booster recovery, SpaceX expended their next California launch and marked the beginning of a streak of eight missions where flight-proven Block 3 and 4 boosters could have been recovered but no attempts were made. While intermixed with the spectacle of Falcon Heavy’s dual side booster landings at LZ-1, the debut launch and recovery of Falcon 9 Block 5, and two other Block 4 booster recoveries, the majority of SpaceX’s launches since December 2017 have been treated as expendable – put simply, the company decided that recovering and refurbishing twice-flown boosters of older Falcon 9 blocks was not worth the effort and expense.
Instead, those well-worn boosters were expended in the Pacific and Atlantic Oceans after partially supporting a series of experimental tests designed to gather additional data on the recovery envelope of SpaceX’s partially reusable rockets. The rationale makes sense – SpaceX fundamentally sacrificed some of its older, less-reusable Falcon 9 boosters for the sake of knowledge that may allow their highly reusable Falcon 9 Block 5 predecessors a better chance of successfully landing even after exceptionally fast, hot, and high-energy recoveries, a necessity if the upgraded rockets are to be reused 10 to 100 times, as is the goal.
Although Just Read The Instructions spent several months without a full complement of maneuvering thrusters, thanks in part to efforts to keep its besieged East coast sister Of Course I Still Love You operational, photographer Pauline Acalin’s photos over the last several months show that the vessel now has four full thrusters installed and ready to bring it back into rocket recovery action in the Pacific Ocean.
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- SpaceX’s drone ship Just Read The Instructions and fairing catcher Mr Steven at their Port of San Pedro berths, May 2018. Note the four bright blue thrusters visible aboard JRTI, three installed and one on deck. (Pauline Acalin)
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- The aggressive Atlantic Ocean landing of Thaicom-8’s Falcon 9 first stage. (SpaceX)
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- Iridium-1’s successful and scenic landing on Pacific drone ship JRTI, January 2017. This could be an increasingly rare occurrence in the Pacific, thanks to SpaceX’s new land-based landing zone. (SpaceX)
Still, the abrupt return to expendable rocket launches after a year – 2017 – filled to the brim with 18 of 18 successful launches and 14 of 14 successful landings led to a decidedly fascinating vein of disapproval in the SpaceX enthusiast and broader spaceflight fan communities – people had grown accustomed to the adrenaline-soaked thrill of routine Falcon 9 rocket landings. Some expressed worries that regularly and intentionally expending large hunks of metal in the ocean could harm their ecosystems and was tantamount to littering. None the wiser, every other launch provider in the world continues to expend all of their rocket boosters without any attempts at recovery like the nearly all non-Shuttle rocket launches in the past six decades, and their tepidly reusable next-generation rockets are unlikely to even begin attempting hardware recovery until the mid-2020s at the earliest.
Frankly, SpaceX’s abrupt successes with orbital-class rocket recovery struck a chord with observers, demonstrating just how intuitive attempting to recover expensive rocket hardware really is, while also bringing into clear focus the actual insanity of failing to try and of the seemingly ad-hoc rationalization of expendable rocketry. Thankfully, we still have SpaceX, and the company’s spate of rocket booster sacrifices is likely just one expendable launch away from coming to an effective end for the indefinite future, with that particular launch – CRS-15 – scheduled less than two weeks from now, on June 29th.
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- B1045, tasked with launching NASA’s TESS exoplanet observatory, roughly 24 hours before liftoff. (Tom Cross)
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- After launching in April 2018, B1045 landed on OCISLY and is being refurbished for a second launch in just 5 days, on June 29. (Tom Cross)
After CRS-15, which will probably see its twice-flown Block 4 booster expended in the Atlantic, a combination of Block 5 Falcon 9s and Heavies will theoretically bring to an end the practice of expending orbital rocket boosters, at least on SpaceX’s watch. Considering that the upgraded boosters have been designed and built to launch as many as ten times with minimal refurbishment and potentially 100+ times with regular maintenance, the opportunity cost of an expended Block 5 rocket booster is so high that it is difficult to imagine SpaceX will be easily swayed to expend one until it’s flown at least several times prior.
We here at Teslarati eagerly await the imminent demise of expendable rockets, set to begin in earnest – at least for SpaceX – around July 19th and 20th with two Falcon 9 Block 5 launches on two coasts, one with Telstar 19V (Florida) and the other with Iridium-7 (California).
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 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.
Tesla’s dreams of operating a fully autonomous ride-hailing platform just took a massive step toward reality, as two separate events have indicated the company is perhaps closer than ever to achieving self-driving as a product.
On Thursday, Tesla was granted authorization by the State of Texas to operate driverless vehicles in a commercial manner. On May 28, Senate Bill 2807, passed by the 89th Texas Legislature, took effect after being passed back on September 1, 2025.
The bill establishes a statewide regulatory framework requiring authorization from the Texas Department of Motor Vehicles for companies to operate automated vehicles commercially on Texas roads.
This covers driverless, or SAE Level 4+, operations for passenger transport, meaning Robotaxi, or freight.
Tesla and other companies can self-certify their vehicles and tech as long as they:
- Operate in compliance with Texas traffic laws
- Maintain proper registration, title, and insurance
- Use compliant automated driving systems
- Record onboard activity and handle system failures and glitches safely.
The new authorization, which was first reported by James Stephenson on X, allows companies to utilize their own processes to determine if their vehicles are ready to operate without drivers.
🚨BREAKING:
Tesla has been authorized by the State of Texas to operate driverless vehicles commercially under the new law that took effect today, May 28th, 2026. Tesla has officially self-certified the software running on its robotaxis as Level 4. $TSLA pic.twitter.com/KSJdsvlaW5— James Stephenson (@ICannot_Enough) May 28, 2026
It is a rule that expedites the entire approval process, keeping agencies out of a usually long, lengthy, and frustrating task that is essential to technological advancements. It essentially means Tesla can launch commercial Robotaxi operations at this point.
On the very same day, Tesla continued the momentum as CEO Elon Musk shared a video of Cybercab units autonomously driving off the property at Gigafactory Texas. This is a major step in the story of the Cybercab.
Mass production of the Cybercab started at Giga Texas in April, and it is already heading out of the factory on its own.
Cybercab driving itself out of the GigaTexas factory pic.twitter.com/EwAMVVDjYy
— Elon Musk (@elonmusk) May 28, 2026
These two major events mark a drastic step forward in Tesla’s progress toward Cybercab and the permissions it needs to operate a self-driving ride-hailing service. Tesla is now able to operate autonomously under Texas law by self-certifying, and with the potentially imminent rollout of Cybercab, Tesla’s autonomous dreams are starting to take serious shape.
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 strikes down reports on SpaceX IPO rumors
Tesla’s Robotaxi dreams just took a massive step toward reality
