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SpaceX CEO Elon Musk claims Starship will be ready for first orbital launch in July
CEO Elon Musk claims that SpaceX could be ready to attempt Starship’s first orbital launch as early as July.
While SpaceX has been making slow and steady progress preparing the Starship upper stage and Super Heavy booster nominally assigned to that launch debut, the odds that even just one of those two stages will be fully qualified for flight before the end of July are quite small. Musk’s claims about what will happen after that rocket is ready are even loftier.
According to Musk, after SpaceX is done preparing a Starship and Super Heavy booster for their inaugural orbital launch attempt sometime “next month,” the company will have a second ship and booster pair “ready to fly in August” and another pair every month after that. If SpaceX rapidly completes the dozens of environmental mitigations assigned to it on June 13th and receives an FAA license or experimental permit for orbital Starship launches, the company does theoretically have permission for five orbital launches out of South Texas in 2022, but the same is also true for all 12 months of 2023.
However, there is very little evidence that SpaceX is on the cusp of being able to complete a new orbital-class Starship and Super Heavy booster every month. While SpaceX is working on future Starships and is almost done assembling a second orbital-class Super Heavy booster, the pace of that work appears to be about the same as it’s been for the last 12+ months. Yes, SpaceX is almost done stacking Booster 8 and has begun stacking Ship 25. Sections of Ship 26, Ship 27, and Booster 9 have also been spotted at Starbase. But SpaceX has been unable to finish stacking Booster 8 over the last few months it’s been focused on Ship 24 and Booster 7.
Ship 24 and Booster 7, meanwhile, are making good progress but are still incomplete. Both recently completed several mostly successful cryogenic and structural proof tests and returned to SpaceX’s assembly bays, where workers have begun installing Raptor engines and applying finishing touches.
After a month of work, it appears that Super Heavy B7 may finally be preparing to return to Starbase’s launch site on Thursday, June 16th. Since it returned to the factory on May 14th, SpaceX has been installing 33 new Raptor 2 engines, applying thermal protection to those engines, buttoning up the booster’s aft end, installing control surfaces known as grid fins, and completing a few other unfinished tasks. If all of that work is complete when it rolls out again, B7 could kick off the next phase of its qualification testing – wet dress rehearsals and static fires – shortly after returning to the orbital launch site.
SpaceX has never attempted a full-scale Super Heavy wet dress rehearsal, in which the largest rocket booster ever built will be fully filled with more than three thousand metric tons of flammable cryogenic propellant and put through a simulated launch countdown. SpaceX has also never come close to conducting a full Super Heavy static fire, though it did fire three outdated Raptors on an outdated booster prototype a single time in July 2021.
Ship 24’s position is slightly more favorable, as it only needs six Raptor 2 engines installed. Thanks to Ship 20, which successfully completed several wet dress rehearsals and several static fires that ignited all six engines, Ship 24 will also be heading into terrain that is slightly less uncharted. Still, the Starship’s heat shield needs several hundred more tiles installed, one of four flap aerocover ‘caps’ is missing, and thermal protection will need to be installed around its Raptors.
Once Booster 7 and Ship 24 are both fully outfitted and installed on their respective test stands, there’s still little reason to believe that either prototype has any chance of completing all the tests needed for flight qualification by the end of July. In fact, for B7 and S24 to be truly ready for flight before the end of July, they’d likely need to wrap up qualification testing well before the end of the month to conduct another series of tests after the pair is fully stacked. If SpaceX does not proceed with at least some degree of caution and a plan to thoroughly test both stages before a launch attempt, it will significantly increase the risk of catastrophic launch pad damage that could easily take half a year or more to fix.
More realistically, it’s reasonable to assume that Ship 24 and Booster 7 will both run into some minor issues during their first wet dress rehearsals and static fire tests, possibly requiring Raptor replacements or even minor repairs. Instead of a few weeks, serious flight qualification could take a few months. It’s also arguably far likelier that one or both stages will need to be entirely replaced by Ship 25 or Booster 8 than it is that both will be ready to launch six weeks from now. Both Booster 4 and Ship 24 suffered some degree of damage during proof tests that are in many ways much easier than the wet dress and static fire tests they’ll soon face.
Still, despite the many reasons for pragmatism and expectation management, SpaceX has never been closer to Starship’s orbital launch debut, and the odds of that debut occurring sometime in 2022 have never been better.
SpaceX announced today that it commenced its first-ever public bond offering, marking a significant step in the newly public company’s capital markets strategy.
The company announced an offering of senior unsecured notes expected to raise at least $20 billion.
The move comes just a short time after SpaceX completed one of the largest initial public offerings in history. In mid-June, the company priced shares at $135 and raised more than $85 billion, propelling founder Elon Musk’s net worth past the trillion-dollar mark and giving the firm substantial liquidity.
🚨 SpaceX has announced its inaugural offering of senior unsecured notes.
The net proceeds will be used to repay outstanding loans under its bridge loan facility in full.
This inaugural debt offering represents a financing milestone for SpaceX, which previously depended… pic.twitter.com/pcOZuVbTRv
— TESLARATI (@Teslarati) June 22, 2026
According to the company’s SEC filing, the net proceeds from the notes will be used primarily to repay in full the outstanding borrowings under its existing bridge loan facility, cover related fees and expenses, and fund general corporate purposes. The offering is being conducted under Rule 144A, as well as Regulation S, targeting qualified institutional buyers and non-U.S. investors. Notes will be unsecured obligations ranking equally with other unsubordinated debt.
The $20 billion bridge loan was used to refinance approximately $17.5 billion in higher-cost “junk” debt tied to X and xAI. SpaceX had merged with xAI in February 2026 in an all-stock deal. The bridge facility, which matures in September 2027, had represented the bulk of SpaceX’s long-term debt.
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In connection with the bond launch, SpaceX disclosed it held approximately $100.8 billion in cash and cash equivalents as of June 19. Investor calls began on the announcement date, with pricing and launch expected shortly thereafter. Rating agencies have assigned investment-grade ratings to the proposed bonds, reflecting confidence in SpaceX’s dominant position in commercial launches and the growth trajectory of its Starlink internet offering.
The debt raise also allows SpaceX to optimize its balance sheet by replacing short-term, higher-cost bridge financing with longer-date, lower-cost fixed-income securities. This provides greater financial flexibility to support capital-intensive initiatives, including the development of Starship, the expansion of the Starlink constellation, and the integration of AI capabilities following the xAI combination.
SpaceX shares (NASDAQ: SPCX) fell sharply on the news, dropping over 16 percent overall on the market on Monday. The stock had surged initially after debuting but pulled back amid profit-taking and broader market dynamics.
Overall, the bond offering underscores SpaceX’s transition to a mature public company with access to diverse funding sources. It positions the firm to pursue its long-term vision of multiplanetary expansion and AI infrastructure, while maintaining a disciplined approach to its capital structure in a high-growth but capital-heavy industry.
SpaceX confirmed today that it has officially signed its third massive compute deal, providing compute at its Colossus data center in Southaven, Tennessee.
Reflection AI will gain immediate access to NVIDIA GB300 chips at SpaceX’s Colossus 2 data center. In return, Reflection will pay SpaceX $150 million per month starting on July 1, with total payments reaching approximately $6.3 billion if the contract runs through its duration, which is until 2029. Either party can terminate the agreement with 90 days’ notice after the initial three-month period.
CNBC first reported the deal.
🚨 SpaceXAI has agreed to a new compute deal with Reflection AI.
Reflection gets access to NIVIDIA GB300s, and will pay $150M per month to SpaceXAI for the compute. pic.twitter.com/bNPare8U5u
— TESLARATI (@Teslarati) June 22, 2026
This latest partnership highlights SpaceX’s strategy of commercializing its massive Colossus supercomputing infrastructure, originally developed to power Elon Musk’s Grok AI models. The company has rapidly expanded its customer base in the AI sector following its February 2026 merger with xAI, a transaction that valued the combined entity at $1.25 trillion.
SpaceX has previously signed significant compute deals with other major players.
It granted Anthropic exclusive access to the full capacity of its Colossus 1 data center, which exceeds 300 megawatts and includes over 220,000 NVIDIA GPUs. Details from SpaceX’s IPO filings indicate Anthropic will pay $1.25 billion per month through May 2029, potentially generating around $45 billion over the term of the deal.
Additionally, Google agreed to pay SpaceX $920 million per month for compute capacity from October 2026 through June 2029. This 32-month period will provide Google access to roughly 110,000 NVIDIA GPUs, along with supporting processors and memory. Capacity ramps up through September at a reduced fee, with termination options after the first year.
SpaceXA also established arrangements for computing power with Cursor, an AI coding startup. SpaceX acquired them in a $60 billion all-stock deal.
These arrangements position SpaceX’s collective position as an AI infrastructure powerhouse with high-margin revenue potential. The Google deal alone could generate nearly $29.5 billion over its term, while the Reflection contract adds another $6.3 billion.
Combined with the Anthropic arrangement, SpaceX stands to realize tens of billions in revenue from compute leasing in the coming years, which diversifies beyond SpaceX’s traditional rocket launches and Starlink operation.
The deals underscore growing demand for advanced AI training and inference capacity amid chip shortages and surging model development needs. Reflection, valued at $25 billion and focused on “American open intelligence” with government and national security ties, cited recent restrictions on closed models as validation for open-source approaches.
For SpaceX, the partnerships transform capital-intensive data centers into flexible revenue sources while supporting its broader AI ambitions after the company has gone public.
It is safe to say SpaceX won’t be going for electric rockets anytime soon.
In a characteristically blunt reply on X, SpaceX frontman Elon Musk stated, “Unfortunately, electric rockets are impossible,” following reports that MSCI had assigned SpaceX its lowest possible ESG rating of CCC.
The assessment, issued just this past week, coinciding closely with SpaceX’s public market debut, placed the company on par with nations like Russia in sustainability scoring and cited significant risks in environmental, social, and governance areas.
MSCI flagged SpaceX’s exposure to rocket emissions and other operational impacts, alongside governance concerns such as concentrated control by Musk and limited shareholder protections. Musk’s terse comment directly addressed the environmental pillar, underscoring a core physical constraint that ESG frameworks often overlook when evaluating high-thrust industries.
Unfortunately, electric rockets are impossible
— Elon Musk (@elonmusk) June 21, 2026
Electric propulsion systems do exist and are widely used in space. Ion thrusters and Hall-effect thrusters accelerate ionized propellant, typically xenon or krypton, using electric fields, achieving very high specific impulse, often exceeding 3,000 seconds compared to roughly 300–450 seconds for chemical rockets.
This efficiency makes them ideal for satellite station-keeping, orbit raising, and deep-space missions where low thrust over long durations is sufficient. SpaceX’s own Starlink satellites employ electric propulsion for these purposes.
However, launching from Earth’s surface demands something entirely different: enormous thrust delivered rapidly to overcome gravity and atmospheric drag. A typical orbital-class booster must generate thrust far exceeding its weight, often in the millions of Newtons within seconds.
Chemical rockets achieve this through exothermic combustion of dense propellants, producing high-mass-flow, high-velocity exhaust. Electric systems, by contrast, expel very small amounts of mass at extremely high speeds. Generating equivalent thrust would require impractical onboard power levels, massive energy storage or generation systems, and prohibitive added mass, rendering the approach infeasible with current or near-term technology.
Musk has previously expressed a similar sentiment, noting a desire for electric orbital rockets while acknowledging the inescapable requirements of Newton’s third law and energy delivery. The distinction is clear: electric propulsion excels once a vehicle is already in space; it cannot replace the high-thrust chemical phase required to reach orbit from the ground.
The episode illustrates broader critiques of ESG ratings. Proponents argue they incentivize better risk management and long-term sustainability. Detractors, including Musk—who has previously called ESG a “scam”—contend that such metrics can penalize essential activities when no practical alternative exists, potentially discouraging innovation in sectors like space access.
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SpaceX has sought to mitigate launch-related impacts through reusability: Falcon 9 boosters have flown more than 30 times in some cases, dramatically lowering the manufacturing and emissions burden per kilogram delivered to orbit. Starship’s design further emphasizes rapid reusability and methane propellant, which can theoretically be produced via sustainable pathways.
Ultimately, Musk’s remark serves as a reminder that certain engineering realities persist regardless of scoring systems. As humanity expands its presence in space for communications, science, and exploration, balancing genuine environmental progress with technological necessity remains a central challenge.
ESG frameworks may evolve, but the fundamental limits of electric launch propulsion are unlikely to change soon.
SpaceX makes $20 billion move to optimize its balance sheet
SpaceX confirms third massive compute deal at Colossus data center
