SpaceX
SpaceX Falcon Heavy completes successful rehearsal, static fire pushed back due to bug in launch pad hardware
More than a decade after its 2005 public conception, SpaceX is closer than ever to the first launch Falcon Heavy, the company’s newest rocket. Earlier this afternoon, the vehicle was aiming for its first static fire test, in which all 27 of its engines would be ignited (nearly) simultaneously in order to test procedures and the rocket itself. This attempt was sadly scrubbed, but only after the vehicle apparently completed a successful wet dress rehearsal, which saw Falcon Heavy fully loaded with propellant. According to Orlando’s News 13, the attempt was scrubbed only after one of eight hold-down clamps showed signs of bugs.
Falcon Heavy vertical at Pad 39A on Thursday, January 11. After a successful rehearsal, the static fire was scrubbed due to a small hardware bug. (Tom Cross/Teslarati)
Falcon Heavy vertical at Pad 39A on Thursday, January 11. After a successful rehearsal, the static fire was scrubbed due to a small hardware bug. (Tom Cross/Teslarati)
While Falcon Heavy is not explicitly critical for SpaceX’s near-term launch business and its loftier future goals, the development and operation of such a massive launch vehicle will likely serve as a strong foundation as the company transitions more aggressively into the design, engineering, and manufacture of its still-larger BFR series of rocket boosters and upper stages. Falcon Heavy stands approximately as tall as Falcon 9 at around 70 m (230 ft), but features three times the thrust and a little less than three times the weight of SpaceX’s workhorse rocket. With 27 Merlin 1D engines to Falcon 9’s namesake nine, Falcon Heavy’s 22,800 kN (5,000,000 lbf) of thrust is a nearly inconceivably amount of power, equivalent to twenty Airbus A380 passenger jets at full throttle.
Why is Falcon Heavy important?
If SpaceX manages to pull off Falcon Heavy as a successful and reliable launch vehicle on the order of its reasonably successful Falcon 9, BFR may well be an easier vehicle to develop and operate, thanks to its single-core design. As Musk himself has discussed over the last year or so, the problem of safely and reliably distributing the thrust of Heavy’s side cores to the center core was unexpectedly difficult, as were the issues of igniting all 27 Merlin 1Ds and safely separating the side cores while in flight. Ultimately, the payload improvement (while in a fully reusable mode of operation) was quite small, particularly for the geostationary missions that make up essentially all prospective Falcon Heavy customer missions.
The additional complexity of recovery and refurbishing three separate Falcon 9 boosters almost simultaneously likely serves to only worsen the vehicle’s potential payoff, although the upcoming Block 5 iteration of Falcon 9 may partially improve the vehicle’s ease of operation. If Block 5 is indeed as reusable as SpaceX intends to make it, then a handful of Block 5 Falcon Heavy vehicles could presumably maintain a decent launch cadence for the vehicle without requiring costly and time-consuming shipping all over the continental US.
A closeup of Falcon Heavy’s three first stages, all featuring grid fins. The white bars in the center help to both distribute stress loads and separate the side cores from the center booster after launch. (SpaceX)
Nevertheless, the (hopefully successful) experience that will follow the launch and recovery operation of a super heavy-lift launch vehicle (SHLV) with ~30 first stage engines will be invaluable for SpaceX’s interplanetary goals. While BFR will be free of the complexity Falcon Heavy’s triple-core first stage added, it is still a massive vehicle that absolutely dwarfs anything SpaceX has attempted before. BFR in its 2017 iteration would mass around three times that of Falcon Heavy and feature 30 Raptor engines capable of approximately 53,000 kN (12,000,000 lbf) of thrust at liftoff, around 2.5x that of Heavy. Many, many other features mean that BFR and particularly BFS will be extraordinarily difficult to realize: BFS alone will be treading into truly unprecedented areas of spaceflight with the scale, longevity, and reusability it is intended to achieve while comfortably ferrying dozens of astronauts to and from Mars and the Moon.
However, the scale of BFR is equivalent to that of the famous Saturn V rocket that took astronauts to the Moon in the 1960s and 70s. In other words, while still dumbfoundingly massive and unprecedented in the modern era, rockets at the scale of BFR do in fact have a precedent of success, which lends the effort considerable plausibility, at least at proof-of-concept level. As of September 2017, Elon Musk suggested that SpaceX was aiming to begin construction of the first BFS (Big ____ Spaceship) by the end of Q2 2018, a truly Muskian deadline that probably wont hold. Still, if construction of the first prototype begins at any point in 2018, it will bode well for SpaceX’s aggressive timelines.
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- Falcon Heavy’s three boosters and 27 Merlin 1D engines on full display. (SpaceX)
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- BFR shown to scale with Falcon 1, 9, and Heavy. (SpaceX)
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- .While SpaceX’s own visualizations are gorgeous and thrilling in their own rights, Romax’s interpretation adds an unparalleled level of shock and awe. (SpaceX)
In the meantime, BFR’s precursor Falcon Heavy has effectively completed its first wet dress rehearsal, although the static fire attempt was scrubbed for the day. This is understandable for such a complex and untested vehicle, especially after SpaceX’s exceptionally quick modifications to Pad 39A. While unofficial, word is that an issue with one of the Transport/Erector/Launcher’s (TEL) eight separate launch clamps caused the scrub. Those launch clamps ensure that the massive vehicle would stay put during a static fire, and the status of those clamps would be especially important during such an unusually long static fire of such a powerful rocket.
Stay tuned for updates on SpaceX’s upcoming launches and Falcon Heavy’s next static fire attempt, likely within the next several days. The vehicle’s inaugural launch date is effectively up in the air until the static fire has been successfully completed, but as of yesterday SpaceX was understood to be targeting January 26th. Delays are to be expected.
Follow along live as Teslarati’s launch photographer Tom Cross weathers the delays and covers the static fire attempt live from Cape Canaveral.
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.
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