News
SpaceX set to launch 40 satellites for Starlink rival OneWeb
While SpaceX’s near-term manifest continues to be impacted by an abrupt uptick in unexplained delays, the company appears to be on track to launch the first of at least two batches of satellites for internet provider OneWeb later this week.
SpaceX and OneWeb’s first launch has already missed its original target of November 2022 and its first announced date, December 6th, and OneWeb has now confirmed another 48-hour delay. Barring surprises, SpaceX will launch a batch of 40 OneWeb internet satellites no earlier than (NET) 5:27 pm EST (22:27 UTC) on Thursday, December 8th.
The update that's rolling out to the fleet makes full use of the front and rear steering travel to minimize turning circle. In this case a reduction of 1.6 feet just over the air— Wes (@wmorrill3) April 16, 2024
The unlikely partnership between SpaceX and OneWeb, both in the middle of building and deploying large constellations of internet satellites in low earth orbit (LEO), was far from the latter company’s first choice. In fact, as previously discussed on Teslarati, the only reason OneWeb agreed to launch a small subset of its first-generation satellites on SpaceX rockets was a series of egregious actions from Russia that made the pair’s exclusive arrangement too toxic to continue. In June 2015, just 16 months after Russia illegally invaded Ukraine’s Crimea and Donbas regions, OneWeb chose to tie itself at the hip to the unstable aggressor with a firm $1-1.5 billion contract that committed the entirety of its first satellite constellation to 21 Russian Soyuz rockets.
Technically, OneWeb’s contract was through France’s Arianespace, which held an agreement with the Russian aerospace industry allowing it to purchase and launch Soyuz rockets from a European pad based in French Guiana, South America. But caught up in the same web of European naivety that led several major European nations to double down on their dependence on Russian natural gas after the country’s first destabilizing quasi-invasion of Ukraine, OneWeb and Arianespace still signed a contract that tied both to the assumption that Russian rockets would remain easy to purchase and export for the indefinite future.
OneWeb and Arianespace nearly escaped consequences. But in February 2022, Russia doubled down on eight years of small-scale war and Ukrainian occupation with a full-scale, gloves-off invasion with explicit genocidal intent. Europe eventually responded in part with economic sanctions that Russia did not take kindly to. In response, Russia took a batch of 36 OneWeb satellites hostage, stole the Soyuz rocket OneWeb had already paid for, and killed any possibility of completing the six or seven Soyuz launches left under its Arianespace contract. In September 2022, OneWeb announced that it had written off a loss of $229 million as a result of those stolen satellites and rockets.
All it took for OneWeb to sign launch contracts with SpaceX was the first full-scale ground invasion of a sovereign European nation in decades. Simultaneously, in the aftermath of Russia’s full-scale invasion of Ukraine, the European Space Agency and French satcom provider Eutelsat have both signed last-second contracts that transferred several satellite launches from Arianespace to SpaceX.
Falcon 9’s first OneWeb mission will launch a record 40 of the Starlink competitor’s 150-kilogram (~330 lb) satellites to low Earth orbit (LEO), where the satellites will use their own propulsion to climb to operational orbits around 1200 kilometers (~750 mi). The mission – OneWeb’s 15th launch since February 2019 – won’t be the first since Russia’s second invasion of Ukraine, a privilege that fell to the second operational launch of India’s GSLV Mk-III (LVM3) rocket.
A OneWeb executive says that SpaceX will also launch its 16th mission as early as January 2023, leaving its first-generation constellation with 540 of 648 planned satellites in orbit. OneWeb has one more 36-satellite LVM3 launch on contract, indicating that it will likely need two more Falcon 9 launches to complete its constellation.
Elon Musk
Elon Musk’s net worth is nearing $800 billion, and it’s no small part due to xAI
A newly confirmed $20 billion xAI funding round valued the business at $250 billion, adding an estimated $62 billion to Musk’s fortune.
Elon Musk moved within reach of an unprecedented $800 billion net worth after private investors sharply increased the valuation of xAI Holdings, his artificial intelligence and social media company.
A newly confirmed $20 billion funding round valued the business at $250 billion, adding an estimated $62 billion to Musk’s fortune and widening his lead as the world’s wealthiest individual.
xAI’s valuation jump
Forbes confirmed that xAI Holdings was valued at $250 billion following its $20 billion funding round. That’s more than double the $113 billion valuation Musk cited when he merged his AI startup xAI with social media platform X last year. Musk owned roughly 49% of the combined company, which Forbes estimated was worth about $122 billion after the deal closed.
xAI’s recent valuation increase pushed Musk’s total net worth to approximately $780 billion, as per Forbes’ Real-Time Billionaires List. The jump represented one of the single largest wealth gains ever recorded in a private funding round.
Interestingly enough, xAI’s funding round also boosted the AI startup’s other billionaire investors. Saudi investor Prince Alwaleed Bin Talal Alsaud held an estimated 1.6% stake in xAI worth about $4 billion, so the recent funding round boosted his net worth to $19.4 billion. Twitter co-founder Jack Dorsey and Oracle co-founder Larry Ellison each owned roughly 0.8% stakes that are now valued at about $2.1 billion, increasing their net worths to $6 billion and $241 billion, respectively.
The backbone of Musk’s net worth
Despite xAI’s rapid rise, Musk’s net worth is still primarily anchored by SpaceX and Tesla. SpaceX represents Musk’s single most valuable asset, with his 42% stake in the private space company estimated at roughly $336 billion.
Tesla ranks second among Musk’s holdings, as he owns about 12% of the EV maker’s common stock, which is worth approximately $307 billion.
Over the past year, Musk crossed a series of historic milestones, becoming the first person ever worth $500 billion, $600 billion, and $700 billion. He also widened his lead over the world’s second-richest individual, Larry Page, by more than $500 billion.
News
Tesla Cybercab sighting confirms one highly requested feature
The feature will likely allow the Cybercab to continue operating even in conditions when its cameras could be covered with dust, mud, or road grime.
A recent sighting of Tesla’s Cybercab prototype in Chicago appears to confirm a long-requested feature for the autonomous two-seater.
The feature will likely allow the Cybercab to continue operating even in conditions when its cameras could be covered with dust, mud, or road grime.
The Cybercab’s camera washer
The Cybercab prototype in question was sighted in Chicago, and its image was shared widely on social media. While the autonomous two-seater itself was visibly dirty, its rear camera area stood out as noticeably cleaner than the rest of the car. Traces of water were also visible on the trunk. This suggested that the Cybercab is equipped with a rear camera washer.
As noted by Model Y owner and industry watcher Sawyer Merritt, a rear camera washer is a feature many Tesla owners have requested for years, particularly in snowy or wet regions where camera obstruction can affect visibility and the performance of systems like Full Self-Driving (FSD).
While only the rear camera washer was clearly visible, the sighting raises the possibility that Tesla may equip the Cybercab’s other external cameras with similar cleaning systems. Given the vehicle’s fully autonomous design, redundant visibility safeguards would be a logical inclusion.
The Cybercab in Tesla’s autonomous world
The Cybercab is Tesla’s first purpose-built autonomous ride-hailing vehicle, and it is expected to enter production later this year. The vehicle was unveiled in October 2024 at the “We, Robot” event in Los Angeles, and it is expected to be a major growth driver for Tesla as it continues its transition toward an AI- and robotics-focused company. The Cybercab will not include a steering wheel or pedals and is intended to carry one or two passengers per trip, a decision Tesla says reflects real-world ride-hailing usage data.
The Cybercab is also expected to feature in-vehicle entertainment through its center touchscreen, wireless charging, and other rider-focused amenities. Musk has also hinted that the vehicle includes far more innovation than is immediately apparent, stating on X that “there is so much to this car that is not obvious on the surface.”
News
Tesla seen as early winner as Canada reopens door to China-made EVs
Tesla had already prepared for Chinese exports to Canada in 2023 by equipping its Shanghai Gigafactory to produce a Canada-specific version of the Model Y.
Tesla seems poised to be an early beneficiary of Canada’s decision to reopen imports of Chinese-made electric vehicles, following the removal of a 100% tariff that halted shipments last year.
Thanks to Giga Shanghai’s capability to produce Canadian-spec vehicles, it might only be a matter of time before Tesla is able to export vehicles to Canada from China once more.
Under the new U.S.–Canada trade agreement, Canada will allow up to 49,000 vehicles per year to be imported from China at a 6.1% tariff, with the quota potentially rising to 70,000 units within five years, according to Prime Minister Mark Carney.
Half of the initial quota is reserved for vehicles priced under CAD 35,000, a threshold above current Tesla models, though the electric vehicle maker could still benefit from the rule change, as noted in a Reuters report.
Tesla had already prepared for Chinese exports to Canada in 2023 by equipping its Shanghai Gigafactory to produce a Canada-specific version of the Model Y. That year, Tesla began shipping vehicles from Shanghai to Canada, contributing to a sharp 460% year-over-year increase in China-built vehicle imports through Vancouver.
When Ottawa imposed a 100% tariff in 2024, however, Tesla halted those shipments and shifted Canadian supply to its U.S. and Berlin factories. With tariffs now reduced, Tesla could quickly resume China-to-Canada exports.
Beyond manufacturing flexibility, Tesla could also benefit from its established retail presence in Canada. The automaker operates 39 stores across Canada, while Chinese brands like BYD and Nio have yet to enter the Canadian market directly. Tesla’s relatively small lineup, which is comprised of four core models plus the Cybertruck, allows it to move faster on marketing and logistics than competitors with broader portfolios.
Elon Musk’s net worth is nearing $800 billion, and it’s no small part due to xAI
Tesla Cybercab sighting confirms one highly requested feature
