SpaceX
SpaceX Falcon 9 Block 5 booster preps for next launch as fairing fragments surface
As part of a recent 10-year anniversary celebration of SpaceX’s first successful launch to reach orbit, Falcon 9 B1047 was spotted undergoing inspections and refurbishment after the Block 5 booster’s launch debut, placing the 7-ton Telstar 19V communications satellite in orbit on July 22nd.
Meanwhile, a bit north of B1047’s cozy Cape Canaveral refurbishment hangar, battered fragments of a Falcon 9 payload fairing half – part of the very same Telstar 19V mission – were discovered by a fisherman off the coast of South Carolina.
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A tale of two halves
Around nine minutes after lifting off from SpaceX’s LC-40 pad, Falcon 9 B1047 gracefully landed on drone ship Of Course I Still Love You (OCISLY), followed soon after by confirmation of Falcon 9 Block 5’s second launch success. Perhaps a tad toasty after what one might call a ‘medium-well’ reentry, the upgraded booster was otherwise perfectly intact. A minute after B1047 separated from Falcon 9’s upper stage and Telstar 19V payload, the fairing – tasked with protecting the satellite from the stresses of high-speed atmospheric flight – was jettisoned from the second stage, splitting into two halves and falling away from the rocket in order to save precious mass on S2’s push towards orbit.
Falcon 9’s first stage separates from the upper stage for quite different reasons, cued quite literally by its propellant tanks essentially reaching “empty” – albeit an “empty” that typically includes some fumes for the booster’s safe recovery. The payload fairing, on the other hand, is detached from the second stage the moment that Falcon rises above a particular point in Earth’s atmosphere, only exposing its sensitive satellite(s) to the elements once in near-vacuum conditions. Ultimately, fairing halves separate from Falcon 9 at velocities significantly higher than that of the booster but are subjected to far more forgiving reentry conditions, requiring just a minimal of thermal protection to make it to (or just above…) the ground/ocean unscathed.
Detailed images of GO Pursuit returning to Port Canaveral this afternoon with a partial fairing half following Sunday’s launch of Falcon 9 and Telstar 19V. Damage is no surprise, as these east coast fairings — for now — land in the water. pic.twitter.com/AxkwUQH67b
— John Kraus (@johnkrausphotos) July 24, 2018
SpaceX recently began seriously attempting to recover Falcon 9 payload fairings, albeit almost exclusively during West Coast launches in order to let Mr. Steven attempt to catch the parasailing halves in the Pacific Ocean. Thus far, SpaceX engineers and technicians have not yet solved the challenging problems, although fairing halves have reportedly landed as few as 50 meters from Mr. Steven’s grasp and at least five have been recovered intact after landing gently on the ocean surface. On the East Coast, Falcon fairings are not nearly as lucky, typically alternating between smashing directly into the ocean and landing gently upon it, depending SpaceX’s need for experimental recovery data.
By all appearances, B1047’s fairing halves both plummeted – unarrested – into the Atlantic, shattering into pieces of fragile carbon fiber-aluminum honeycomb. Thanks to the extremely lightweight nature of their composition, even waterlogged fairing fragments tend to float almost indefinitely, winding up in far-flung places many hundreds or thousands of miles from the point of impact. A particularly large fairing fragment from Telstar 19V clearly survived its greater halve’s violent ends, floating its way 600-800 miles northwest to the coast of South Carolina. After taking photos, the fisherman rather poetically let it float away, permitting it several more weeks of freedom before washing up on some shoreline and making its way onto eBay.
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- A Falcon 9 fairing fragment was discovered floating off the coast of South Carolina two months after launching with Telstar 19V. (TheHullTruth /u/gofish)
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- Telstar 19V’s Falcon fairing artwork, a dead-ringer for the fairing flotsam. (SpaceX)
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- B1047 returned safe and sound to Pad 39A for refurbishment less than a week after launching and landing. (Instagram /u/d_lo_ags)
Ultimately, SpaceX engineers and technicians will continue to work towards successful, reliable, and routine fairing recoveries, inevitably experiencing many failures before a functional solution is found and optimized, just like the teams that brought Falcon 9 first stage recovery from blueprint to reality. In the meantime, serendipitous events like this will continue to serve as both stark reminders of the unforgiving hurdles along the path to orbital-class rocket hardware recovery and the undeniable fact that it already can and has been done before.
Elon Musk
SpaceX’s amended S-1 is sparking a major Tesla merger conversation
A single line in SpaceX’s amended S-1 just sent Tesla stock down 5% in one day.
A single line buried in SpaceX’s amended S-1 filing is doing more to move Tesla’s stock price than anything Tesla itself has announced in months. The clause, disclosed as SpaceX prepares for what could be the largest IPO in Wall Street history, states that the company “may issue a significant amount of equity in connection with future transactions.” While this may be seen as boilerplate language in S-1 filings, the historical ties between SpaceX and Tesla, and with Elon Musk reportedly discussing a possible merger with close colleagues, investors are interpreting it as something closer to a signal.
The concern among institutional investors like Gary Black, managing director of The Future Fund, pointed directly to the amended filing on X, saying it “strongly suggests more SPCX equity will be issued,” which could potentially be used to acquire Tesla. He estimated such a deal could be 28% dilutive to Tesla shareholders since SpaceX would likely command a significantly higher valuation multiple. Black added that institutional investors he knows hate the idea of a combination because they prefer pure plays over conglomerates, which he said “nearly always gravitate to the lowest common multiple.”
The Tesla and SpaceX merger everyone is talking about is quietly building
The bull case runs the math differently. Tesla influencer and retail shareholder advocate AleXandra Merz pushed back on what she called a widespread misunderstanding of how merger-of-equals deals actually work. Rather than simply splitting the difference between two market caps, a merger exchange ratio is negotiated based on relative fair market values, meaning the lower valued company typically sees its stock reprice upward toward the deal value.
Under her model, SpaceX enters at a $2.5 trillion valuation and Tesla at $1.6 trillion, producing a combined entity worth $4.1 trillion split evenly between both shareholder groups. That implies Tesla’s side of the deal would be valued at $2.05 trillion, a gain of roughly $450 billion from its current market cap. She cited Dow-DuPont and CBS-Viacom as historical examples of how markets reprice both companies toward the announced exchange ratio after a deal is unveiled.
What does a Merger of Equals mean to Elon’s compensation packages?
Well, it changes everything.
Enjoy https://t.co/uekCldyITw pic.twitter.com/kolq1C9qTu
— AleXandra Merz 🇺🇲 (@TeslaBoomerMama) June 1, 2026
The SpaceX S-1 amendments also revealed just how much financial infrastructure already binds the two companies together. As Teslarati has reported, SpaceX purchased $697 million in Tesla Megapacks, $131 million in Cybertrucks, and the two companies have shared supply chain resources, and semiconductor fabrication plans since well before any merger conversation became public. A retail poll by Tesla influencer Sawyer Merritt is finding that 36% of respondents do not plan to buy SpaceX shares at IPO and 15.3% saying their decision depends on the valuation.
Do you plan on buying @SpaceX stock at its IPO?
— Sawyer Merritt (@SawyerMerritt) June 1, 2026
Whether the merger happens or not, the amended filing is seemingly moving markets and sharpened a debate that is no longer theoretical. SpaceX is weeks away from trading publicly, and Tesla shareholders are now watching every word of every filing for clues about what Musk plans to do next.
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.
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.
SpaceX’s amended S-1 is sparking a major Tesla merger conversation
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