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SpaceX Falcon Heavy with Block 5 rockets targets November launch debut
According to several of its satellite passengers, SpaceX’s second launch of Falcon Heavy – this time with three Falcon 9 Block 5 boosters – is understood to be targeted for no earlier than November 2018 and will mark the first commercial mission for the world’s most powerful operational rocket.
Under the blanket label Space Test Program-2 (STP-2), Falcon Heavy’s first operational mission will be conducted for the US Air Force and see 25 various spacecraft – some weighing as much as 500 kilograms – launched into an equally varied selection of orbits, requiring a complex series of restarts and burns for the rocket’s upgraded Block 5 second stage. STP-2 also includes a huge 5000-kilogram ballast mass as a result of the decision to fly the mission as a demonstration of Falcon Heavy instead of a less powerful but cheaper and simpler single-booster Falcon 9. The total mass of all 25 payloads is likely far beneath the powerful rocket’s actual capabilities, as are the performance and propellant reserves required for the upper stage to inject different spacecraft into a number of orbits, hence the inclusion of so much dead mass.
Falcon 9 Block 5 shows off its interstage heat shielding and titanium grid fins. Falcon Heavy’s three boosters will likely look nearly identical. (Tom Cross)
Of those 25 distinct payloads, a number even include their own co-passenger satellites and experiments and have orbit requirements ranging from a basic circular low Earth orbit (~700km) to an odd, elliptical orbit with ends at 6000 and 12000km. For Falcon Heavy’s second flight, SpaceX will be fielding three highly reusable Block 5 boosters and a Block 5 upper stage with upgrades that enable the vehicle to operate far longer on orbit and reignite its Merlin Vacuum engine three or more times.
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- SpaceX’s second Falcon Heavy launch will either be the USAF’s STP-2, a collection of smaller satellites, or Arabsat 6A, a large communications satellite. (USAF)
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- One group of STP-2 passengers, known as DSX, has been awaiting launch for more than eight years. (USAF)
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- Falcon Heavy explodes off of Pad 39A in a spectacle of fire, Roadster in tow. (Tom Cross)
Unlikely to seriously tax Falcon Heavy’s brute-force payload lifting capabilities even with five metric tons of ballast, STP-2 will still be a lengthy and complicated endeavor for SpaceX’s Falcon upper stage – perhaps the most complex the company has yet to attempt. However, above all else, the most difficult aspect of the USAF STP-2 mission is almost certainly the comparatively mundane act of coordinating dozens of wildly different satellites and spacecraft from an equally varied number of different and geographically disparate institutions, companies, and government agencies, all of which must be ready for launch and attached to the same SpaceX payload adapter at roughly the same time to prevent mothballing launch delays.
RELATED: Reliving SpaceX Falcon Heavy: A press photographer’s memoir, not so much a blog post
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- Falcon Heavy as seen a day before launch, February 5. (Tom Cross)
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- All nine Merlin 1Ds displayed with their adorable cozies. (Tom Cross/Teslarati)
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- Falcon Heavy’s stunning dual side booster recovery. (SpaceX)
SpaceX’s first Falcon Heavy completed its spectacularly successful debut earlier this year with a mission that saw CEO Elon Musk’s own Tesla Roadster launch into orbit around the sun and culminated in the truly extraordinary near-simultaneous landings of the rocket’s two flight-proven side boosters. Those boosters both completed their first launches in 2016, nearly two years prior to their second and final flights, and the reinforced center core was built as a new but now-outdated Block 3, lessening the blow from its failure to land aboard the drone ship Of Course I Still Love You after separating from the upper stage. Like all Block 5 versions of Falcon, the second Falcon Heavy’s Block 5 boosters should be expected to support a number of launches before retirement, ranging from several to as many as 100.
Elon Musk
ARK’s SpaceX IPO Guide makes a compelling case on why $1.75T may not be the ceiling
ARK Invest breaks down six reasons SpaceX’s $1.75 trillion IPO valuation may be justified.
ARK Invest, which holds SpaceX as its largest Venture Fund position at 17% of net assets, has published a detailed investor guide to why a SpaceX IPO may be grounded in a $1.75 trillion target valuation.
The financial case starts with Starlink, SpaceX’s satellite internet constellation, which has surpassed 10 million active subscribers globally as of early 2026, with 2026 revenue projected to exceed $20 billion. ARK’s research puts the total satellite connectivity market opportunity at roughly $160 billion annually at scale, and Starlink is adding customers faster than any telecom network in history. That growth alone would justify a substantial valuation.
Additionally, ARK notes that SpaceX has reduced the cost per kilogram to orbit from roughly $15,600 in 2008 to under $1,000 today through reusable Falcon 9 hardware. A fully operational Starship targeting sub-$100 per kilogram would represent a significant cost decline and open markets that do not currently exist. SpaceX executed a staggering 165 missions in 2025 and now accounts for approximately 85% of all global orbital launches. That infrastructure position took decades to build and would be nearly impossible to replicate at comparable cost.
SpaceX officially acquires xAI, merging rockets with AI expertise
The February 2026 merger with xAI added a layer to the valuation that straightforward financial models struggle to capture. ARK argues that at sub-$100 launch costs, orbital data centers could deliver compute roughly 25% cheaper than ground-based alternatives, without power grid delays, permitting friction, or land constraints. Musk has stated a goal of deploying 100 gigawatts of AI computing capacity per year from orbit.
The $1.75 trillion figure itself is not a conventional earnings multiple. At roughly 95x trailing revenue, it prices in Starlink’s adoption curve, Starship’s cost trajectory, and the orbital compute thesis together. The public S-1 prospectus, due at least 15 days before the June roadshow, will give investors their first complete look at the financials to test those assumptions. ARK’s position is that the track record earns the benefit of the doubt. Fully reusable rockets were considered unrealistic for years. Starlink was considered financially unviable. Both happened on timelines that surprised skeptics.
Elon Musk
Ford CEO Farley says Tesla is not who to look at for EV expertise
Interestingly, Farley has been one of the most hellbent CEOs in terms of a legacy automaker standpoint to push the EV effort. It did not go according to plan, as Ford took a $19.5 billion charge and retreated from its EV push in late 2025.
Ford CEO Jim Farley said in a recent podcast interview that Tesla is not who Americans should look at to beat Chinese carmakers.
The comments have sparked quite a bit of outrage from Tesla fans on X, the social media platform owned by Elon Musk.
Farley said that Chinese automakers are better examples of how to beat competitors. He said (via the Rapid Response Podcast):
“If you’re an American and you want us to beat the Chinese in the car business, you’re all going to want to pay attention, not necessarily to Tesla. Nothing against Tesla—they’ve been doing great—but they really don’t have an updated vehicle. The best in the business for us, cost-wise and competition-wise, supply chain, manufacturing expertise, and the I.P. in the vehicle, was really BYD. In this next cycle of EV customers in the U.S., they want pickups and utilities and all these different body styles. But they want them at $30,000, not $50,000. Like the first inning, they want them affordably.”
Despite Farley’s synopsis, it is worth mentioning that Tesla had the best-selling passenger vehicle in the world last year, and in China in March, as the Model Y continued its global dominance over other vehicles.
Musk responded to Farley’s comments by stating:
“This is before Supervised FSD is approved in China. Limiting factor is production output in Shanghai.”
This is before supervised FSD is approved in China. Limiting factor is production output in Shanghai.
— Elon Musk (@elonmusk) April 19, 2026
Interestingly, Farley has been one of the most hellbent CEOs in terms of a legacy automaker standpoint to push the EV effort. It did not go according to plan, as Ford took a $19.5 billion charge and retreated from its EV push in late 2025.
Ford cancels all-electric F-150 Lightning, announces $19.5 billion in charges
Instead, Ford is “doubling down on its affordable” EVs and said it would pivot from its previous plans.
Reaction from Tesla fans was pretty much how you would expect. Many said they have lost a lot of respect for Farley after his comments; others believe he is the last CEO anyone should be taking advice on EVs from.
Nevertheless, Farley’s plans are bold and brash; many consider Tesla the most ideal company to replicate EV efforts from. It will be interesting to see if Ford can rebound from this big adjustment, and hopefully, Farley’s plans to replicate efforts from BYD work out the way he hopes.
Elon Musk
SpaceX wins its first MARS contract but it comes with a catch
NASA awarded SpaceX a $175 million Mars rover contract while the White House proposes cutting the mission.
NASA just signed a $175.7 million contract with SpaceX to launch a Mars rover that the White House is simultaneously trying to defund. The contract, awarded on April 16, 2026, tasks SpaceX’s Falcon Heavy with launching the European Space Agency’s (ESA) Rosalind Franklin rover from Kennedy Space Center in Florida, no earlier than late 2028. It would mark the first time SpaceX has ever sent a payload to Mars.
Under NASA’s Rosalind Franklin Support and Augmentation project, known as ROSA, the agency is providing braking engines for the rover’s descent stage, radioisotope heater units that use decaying plutonium to keep the rover warm on the Martian surface, additional electronics, and a mass spectrometer instrument, as noted by SpaceNews.
Those nuclear heating units are the reason an American rocket was required at all. U.S. export controls on radioisotope technology mean any payload carrying them must launch on a domestic vehicle, which narrowed the field to SpaceX and United Launch Alliance. Falcon Heavy’s pricing made it the practical choice.
SpaceX is quietly becoming the U.S. Military’s only reliable rocket
Falcon Heavy debuted in February 2018 and has 11 launches to its record. The rocket has not flown since October 2024, when it sent NASA’s Europa Clipper toward Jupiter. The three-core design, built from modified Falcon 9 first stages, gives it the lift capacity needed for deep space planetary missions that a single Falcon 9 cannot reach.
The Rosalind Franklin rover has been sitting in storage in Europe for years. It was originally due to launch in 2022 as a joint mission with Russia, but Russia’s invasion of Ukraine ended that partnership, leaving the rover built but stranded without a launch vehicle or landing hardware. NASA stepped back in through a 2024 agreement with ESA to rescue the mission. The rover is designed to drill up to two meters below the Martian surface in search of evidence of past life, a science objective no previous mission has attempted at that depth.
The contradiction at the center of this story is hard to ignore. The White House’s fiscal year 2027 budget proposal included no funding for ROSA and did not mention the mission at all in the detailed congressional justification document released April 3.
Musk has long argued that reaching Mars is not optional. “We don’t want to be one of those single planet species, we want to be a multi-planet species.” Whether this particular mission survives Washington’s budget fight, the Falcon Heavy contract means SpaceX is now formally on record as the rocket that could get humanity’s next Mars science mission off the ground.
The timing of this contract carries extra weight given that SpaceX filed confidentially with the SEC in early April and is targeting an IPO roadshow in the week of June 8. It would be the largest public offering in history.
ARK’s SpaceX IPO Guide makes a compelling case on why $1.75T may not be the ceiling
Ford CEO Farley says Tesla is not who to look at for EV expertise
