SpaceX
SpaceX fairing catcher Mr. Steven heads for Panama Canal after one last drop test
Iconic fairing recovery vessel Mr. Steven appears to have quietly departed for SpaceX’s Florida launch facilities a few days after completing (successfully or not) one final controlled fairing catch test in the Pacific Ocean.
While bittersweet for those that have closely followed the vessel’s development and many attempted Falcon fairing recoveries, this move should ultimately give Mr. Steven around three times as many opportunities to attempt fairing recoveries thanks to SpaceX’s significantly higher East Coast launch cadence.
Mr Steven docking last night after another helicopter drop test, fairing half aboard. #spacex @Teslarati pic.twitter.com/1uMm8ktzWY
— Pauline Acalin (@w00ki33) January 26, 2019
Under SpaceX lease since late 2017, the company moved the vessel to California and modified it with its first net and set of arms around December 2017. Mr. Steven attempted his first Falcon fairing catch – each half worth more than $3M – in February 2018 after the launch of Earth imaging satellite PAZ and two SpaceX Starlink prototypes, thus beginning a string of five unsuccessful recovery attempts for West Coast Falcon 9 launches. The lack of success has most certainly not been for a lack of trying, exemplified in large part by Mr. Steven’s frequent net and arm upgrades over the last year, culminating in the installation of four massive arms, a vast primary net, and a smaller secondary net below it.
Recent fairing recovery test with Mr. Steven. So close! pic.twitter.com/DFSCfBnM0Y
— SpaceX (@SpaceX) January 8, 2019
SpaceX engineers and technicians repeatedly managed to get Falcon fairing halves – autonomously guided by GPS after deploying parafoils – within 50 to a few hundred feet during several of those five post-launch attempts. In the last few months of 2018, SpaceX also began a program of controlled fairing drop tests, where a helicopter would lift a fairing half 5,000-10,000 feet up before releasing it for Mr. Steven. A recent drop test organized in either late-December or early-January saw the parasailing fairing half get so close to a successful catch that its parafoil rigging actually appeared to get tangled on (or at least bump) the edge of Mr. Steven’s net, spanning an area of around 3000 square meters (~30,000 sq ft).
Barring a continuation of SpaceX’s helicopter drop test program on the East Coast, Mr. Steven’s final controlled fairing recovery attempt occurred on January 25th, perhaps less than four days before the ship departed for Florida. After maneuvering wildly and reaching 28 mph (45 km/h) – the fastest speed yet clocked – on his trip back to port, Mr. Steven arrived with a fairing half tantalizingly cradled in the ship’s new secondary net, a perfectly ambiguous state that could indicate a successful catch and net transfer or a missed catch and ocean retrieval, with the smaller net used as an ad-hoc shock absorber during his sprint to port.
- The apparent fairing-grabbing mechanism or robot spotted aboard the SpaceX-leased vessel Mr. Steven. (Reddit /u/ vshie)
- Not nearly enough net, as it turned out. (Pauline Acalin, May 2018)
- Mr Steven testing his new net in a series of sea trials, July 11
- Mr. Steven returned to Port of San Pedro around on October 8th after a day spent at sea, apparently with a Falcon fairing half in tow. This is the second known time that a fairing has been in Mr. Steven’s net. The fairing was eventually lifted off around noon the following day. (Pauline Acalin)
- Mr. Steven was captured performing tests with a duo of fairings and nets at its Port of LA berth, January 22nd. (Pauline Acalin)
- Prior to his Panama Canal exit, Mr. Steven barely missed 2-3 successful Falcon fairing catches during several controlled drop tests. (SpaceX)
Back to Port Canaveral
Prior to Mr. Steven’s California station and arm/net upgrade, the vessel was introduced to SpaceX in Florida as a sort of faster version of the slower service vessels already used to support drone ship deployments and recover fairing halves (or shards) out of the ocean. Although it remains entirely possible that Mr. Steven’s abrupt journey towards southern Mexico is a false alarm, it appears quite likely that the vessel will ultimately end up back where it started its SpaceX journey. After returning to Port Canaveral, Mr. Steven should be able to support a range of post-launch fairing recovery attempts thanks to SpaceX’s consistently-busy East Coast launch schedule.
At his current cruising speed of ~18 knots (21 mph/35 km/h), Mr. Steven will take at least 9-10 days (~220-240 hours) to travel the ~7500 km (4600 mi) of ocean separating Port of LA and Port Canaveral. Even assuming many lengthy stops for fuel and supplies, the vessel should easily arrive in time to attempt its first East Coast fairing catch in support of SpaceX’s next launch, NET February 18th. After that, Crew Dragon’s inaugural orbital launch (DM-1) is targeted for late February, followed by Cargo Dragon’s 17th operational mission (NET March 16th) and the second-ever launch of Falcon Heavy, absolutely no earlier than March 7th.
Mr. Steven appears to have quietly departed Port of Los Angeles for Manzanillo, a port on the southwest coast of Mexico. This is likely Leg #1 of a voyage to Port Canaveral, where he can support #SpaceX's more frequent Florida launches. He'll be missed on the West Coast 🙁 pic.twitter.com/Jb5cOA2Cda
— Eric Ralph (@13ericralph31) January 29, 2019
Investor's Corner
SpaceX IPO is coming, CEO Elon Musk confirms
However, it appears Musk is ready for SpaceX to go public, as Ars Technica Senior Space Editor Eric Berger wrote an op-ed that indicated he thought SpaceX would go public soon. Musk replied, basically confirming it.
Elon Musk confirmed through a post on X that a SpaceX initial public offering (IPO) is on the way after hinting at it several times earlier this year.
It also comes one day after Bloomberg reported that SpaceX was aiming for a valuation of $1.5 trillion, adding that it wanted to raise $30 billion.
Musk has been transparent for most of the year that he wanted to try to figure out a way to get Tesla shareholders to invest in SpaceX, giving them access to the stock.
He has also recognized the issues of having a public stock, like litigation exposure, quarterly reporting pressures, and other inconveniences.
However, it appears Musk is ready for SpaceX to go public, as Ars Technica Senior Space Editor Eric Berger wrote an op-ed that indicated he thought SpaceX would go public soon.
Musk replied, basically confirming it:
As usual, Eric is accurate
— Elon Musk (@elonmusk) December 10, 2025
Berger believes the IPO would help support the need for $30 billion or more in capital needed to fund AI integration projects, such as space-based data centers and lunar satellite factories. Musk confirmed recently that SpaceX “will be doing” data centers in orbit.
AI appears to be a “key part” of SpaceX getting to Musk, Berger also wrote. When writing about whether or not Optimus is a viable project and product for the company, he says that none of that matters. Musk thinks it is, and that’s all that matters.
It seems like Musk has certainly mulled something this big for a very long time, and the idea of taking SpaceX public is not just likely; it is necessary for the company to get to Mars.
The details of when SpaceX will finally hit that public status are not known. Many of the reports that came out over the past few days indicate it would happen in 2026, so sooner rather than later.
But there are a lot of things on Musk’s plate early next year, especially with Cybercab production, the potential launch of Unsupervised Full Self-Driving, and the Roadster unveiling, all planned for Q1.
News
SpaceX reportedly mulling IPO, eyeing largest of all time: report
“I do want to try to figure out some way for Tesla shareholders to participate in SpaceX. I’ve been giving a lot of thought to how to give people access to SpaceX stock,” Musk said.
SpaceX is reportedly mulling an initial public offering, eyeing what would be the largest valuation at the time of availability of all time, a new report from Bloomberg said on Tuesday.
It is one of many reports involving one of Elon Musk’s companies and a massive market move, as this is not the first time we have seen reports of an IPO by SpaceX. Musk himself has also dispelled other reports in the past of a similar nature, including an xAI funding round.
SpaceX and Musk have yet to comment on the report. In the past, untrue reports were promptly replied to by the CEO; this has not yet gained any response, which is a good sign in terms of credibility.
However, he said just a few days ago that stories of this nature are inaccurate:
“There has been a lot of press claiming SpaceX is raising money at $800B, which is not accurate. SpaceX has been cash flow positive for many years and does periodic stock buybacks twice a year to provide liquidity for employees and investors. Valuation increments are a function of progress with Starship and Starlink and securing global direct-to-cell spectrum that greatly increases our addressable market. And one other thing that is arguably most significant by far.”
There has been a lot of press claiming @SpaceX is raising money at $800B, which is not accurate.
SpaceX has been cash flow positive for many years and does periodic stock buybacks twice a year to provide liquidity for employees and investors.
Valuation increments are a…
— Elon Musk (@elonmusk) December 6, 2025
Musk has discussed a potential IPO for SpaceX in recent months, as the November 6 shareholder meeting, as he commented on the “downsides” of having a public company, like litigation exposure, quarterly reporting pressures, and other inconveniences.
Nevertheless, Musk has also said he wants there to be a way for Tesla shareholders to get in on the action. At the meeting in early November, he said:
“I do want to try to figure out some way for Tesla shareholders to participate in SpaceX. I’ve been giving a lot of thought to how to give people access to SpaceX stock.”
Additionally, he added:
“Maybe at some point., SpaceX should become a public company despite all the downsides of being public.”
Musk has been historically reluctant to take SpaceX public, at times stating it could become a barrier to colonizing Mars. That does not mean it will not happen.
Bloomberg’s report cites multiple unidentified sources who are familiar with the matter. They indicate to the publication that SpaceX wants to go public in mid-to-late 2026, and it wants to raise $30 billion at a valuation of around $1.5 trillion.
This is not the first time SpaceX has discussed an IPO; we reported on it nine years ago. We hope it is true, as the community has spoken for a long time about having access to SpaceX stock. Legendary investor Ron Baron is one of the lucky few to be a SpaceX investor, and said it, along with Tesla, is a “lifetime investment.”
Tesla bull Ron Baron reveals $100M SpaceX investment, sees 3-5x return on TSLA
The primary driver of SpaceX’s value is Starlink, the company’s satellite internet service. Starlink contributes 60-70 percent of SpaceX’s revenue, meaning it is the primary value engine. Launch services, like Falcon 9 contracts, and the development of Starship, also play supporting roles.
News
SpaceX reaches incredible milestone with Starlink program
SpaceX reached an incredible milestone with its Starlink program with a launch last night, as the 3,000th satellite of the year was launched into low Earth orbit.
On Monday, SpaceX also achieved its 32nd flight with a single Falcon 9 rocket from NASA’s Kennedy Space Center.
The mission was Starlink 6-92, and it utilized the Falcon 9 B1067 for the 32nd time this year, the most-used Falcon booster. The flight delivered SpaceX’s 3000th Starlink satellite of the year, a massive achievement.
There were 29 Starlink satellites launched and deployed into LEO during this particular mission:
Falcon 9 launches 29 @Starlink satellites from Florida pic.twitter.com/utKrXjHzPN
— SpaceX (@SpaceX) December 9, 2025
SpaceX has a current goal of certifying its Falcon boosters for 40 missions apiece, according to Spaceflight Now.
The flight was the 350th orbital launch from the nearby SLC-40, and the 3,000 satellites that have been successfully launched this year continue to contribute to the company’s goal of having 12,000 satellites contributing to global internet coverage.
There are over five million users of Starlink, the latest data shows.
Following the launch and stage separation, the Falcon 9 booster completed its mission with a perfect landing on the ‘Just Read the Instructions’ droneship.
The mission was the 575th overall Falcon 9 launch, highlighting SpaceX’s operational tempo, which continues to be accelerated. The company averages two missions per week, and underscores CEO Elon Musk’s vision of a multi-planetary future, where reliable connectivity is crucial for remote work, education, and emergency response.
As Starlink expands and works toward that elusive and crucial 12,000 satellite goal, missions like 6-92 pave the way for innovations in telecommunications and enable more internet access to people across the globe.
With regulatory approvals in over 100 countries and millions of current subscribers, SpaceX continues to democratize space, proving that reusability is not just feasible, but it’s also revolutionary.





