SpaceX
SpaceX’s Falcon Heavy could launch astronauts to the Moon, says NASA admin
Despite contrary comments made one week prior, NASA administrator Jim Bridenstine has affirmed – this time in no uncertain terms – that a two-week study investigating commercial options for launching the Orion spacecraft to the Moon has concluded that Falcon Heavy could be the only practical option if NASA chooses to proceed.
Due to fundamental performance and logistical constraints of both Delta IV Heavy and Falcon Heavy, as well as a lack in confidence in certain alternative paths, NASA now believes that a commercial option – Falcon Heavy – exists, but would face multiple major challenges, to the extent that Bridenstine indicated it would not be able to make the 2020 launch deadline with an unspecified budget. However, unlike his March 27th statements to Congress, he told the NASA stakeholder audience that the complex Falcon Heavy configuration “could be used in the future if [NASA can] get through all of [the challenges].” Reading between the lines, Administrator Bridenstine has effectively put the expensive and delay-ridden SLS rocket on notice if its contractors – primarily Boeing – fail to rise to the challenge and accelerate the rocket’s launch debut.
The April 1st comments – made before an audience of major NASA center leaders – are in stark contrast to dozens of comments made by Bridenstine in response to members of Congress on March 27th, in which he repeatedly went to bat for SLS launching Orion on EM-1 while scarcely mentioning commercial alternatives.
Despite the apparent incoherence of Administrator Bridenstine’s continuing comments, the sad – but also promising –
Sitting before the Senate Commerce, Science, and Transportation committee on March 13th, he announced the commercial Orion launch study as a token of recognition that NASA needs to get better at staying on-schedule and on-budget for US taxpayers and Congressional purse string-holders. After the US Vice President challenged NASA to return humans to the Moon with any means necessary by 2024, Bridenstine affirmed that NASA would do everything in its power to meet that charge, including the exploitation of commercial alternatives. In a March 27th hearing before members of Congress with explicit stakes in the SLS rocket’s pork, he barely mentioned commercial alternatives for Orion EM-1, instead focusing on a paired study aiming to accelerate the SLS launch debut schedule while also reiterating his confidence that Boeing and other contractors can rise to the occasion.
In his latest April 1st comments on commercial launch alternatives for Orion’s Moon mission debut, Bridenstine spoke to nearly all of NASA’s major center, program, and directive managers and stuck to the technical facts of the matters at hand. He repeatedly acknowledged that both launching an uncrewed Orion spacecraft to the Moon before the end of 2020 and returning astronauts to its surface by the end of 2024 would be extraordinary challenges and could require far-reaching changes and reforms throughout NASA. He also reaffirmed his intent to ensure that nothing be taken off the table as an option to accomplish those ambitious goals. This included an indication that (in more polite terms, of course) the
We see, in history, that in the past we have had an agenda to get to the Moon and then the resources don’t materialize and it gets canceled, and then we have another agenda to go to the Moon and the resources don’t materialize and it gets canceled. From my perspective, it is my objective to get the resources necessary to accomplish [this goal]. It is also my commitment to make sure that people understand the history here and that we can have a great, ambitious goal, but without the resources, it won’t be accomplished.
NASA Administrator Jim Bridenstine, 04/01/2019


“A whole host of challenges”
The specifics of what the NASA administrator briefly hinted at for a Falcon Heavy launch of EM-1 are spectacular enough to warrant additional discussion. According to Bridenstine, the two-week study NASA conducted essentially concluded that ULA’s Delta IV Heavy rocket was not a practical option for several major reasons. First, it seems that NASA has little to no confidence that Lockheed Martin and its contractors would be able to retrofit EM-1’s Orion and European Service Module (ESM) with the hardware and software needed for on-orbit rendezvous with a boost stage in time for a 2020 launch. Those capabilities were not planned for Orion until EM-3, NET 2024 in an absolute best-case scenario. This would entirely preclude a distributed launch solution, regardless of whether Delta IV Heavy is capable of placing the payloads in orbit.
Even if a rendezvous was on the table, a distributed launch scenario would still be impossible with either two Falcon Heavies or Delta IV Heavies, as both launches would have to occur as close to simultaneously as possible – optimally just a few hours apart. SpaceX has only one pad capable of supporting Falcon Heavy, while ULA’s Delta IV Heavy has two pads, but only one that can launch to the required orbit. A bigger problem: Delta IV Heavy is capable of launching no more than ~28,400 kg (63,000 lb) to an altitude of ~200 km (120 mi), which definitely rules out a Delta IV Heavy launch of the ICPS upper stage (~30,000 kg, 66,000 lb) and could also fall short for Orion/ESM (~26,000 kg, 57,000 lb), assuming that both would need to be launched to an elliptical orbit of 1800 km (1150 mi).

Reddit /u/DoYouWonda actually visualized this potential (but highly improbable) scenario and published a brief abstract analyzing the possibility on March 15th. (Reddit /u/DoYouWonda, minor edits by Teslarati)
Due to NASA’s implied assumption that on-orbit rendezvous of Orion and a booster stage is out of the question and the potential performance shortcomings of Delta IV Heavy, as well as Falcon Heavy’s inability to launch Orion/ESM towards lunar orbit, only one option apparently remains. According to Bridenstine, NASA concluded that a mission profile in which Falcon Heavy places Orion, a service module, and an ICPS upper stage in orbit in a single launch may actually be a serious option – and the only option – for a near-term commercial alternative for Orion’s first operational test flight. The unofficial graphic above offers a rough glimpse of what that massive payload might look like atop Falcon Heavy.
[Finally], there is another solution out there: a Falcon Heavy with an ICPS at the top – talk about strange bedfellows – and an ESM and Orion crew capsule. That ultimately has the ability to potentially – gosh, [NASA Associate Administrator Bill] Gerst is gonna be so mad at me for saying all of this… by the way, none of this was cleared by Gerstenmaier, he’s still the best rocket scientist we have [camera pans to Gerst, laughter], no insult to anyone else in the room – so, at the end of the day, there is a solution here that could potentially work for the future.
It would require time, it would require cost, and there is risk involved, but guess what? If we’re gonna land boots on the Moon in 2024, we have time, and we have the ability to accept some risk and make some modifications. All of that is on the table. There is nothing sacred here that is off the table, and [FH+ICPS+Orion/ESM] is a potential capability that could help us land on the Moon in 2024.
NASA Administrator Jim Bridenstine, 04/01/2019
Combined, the Orion spacecraft, its ESM, and a fueled ICPS boost stage would weigh no less than 56,000 kg (~123,000 lb) at launch, relative to Falcon Heavy’s reported expendable performance of about 64,000 kg (140,000 lb) to Low Earth Orbit (LEO). In other words, it’s possible that Falcon Heavy could effectively do the exact same job as SLS would need to do to perform a nominal Orion EM-1 orbital insertion. However, a huge number of challenges remain for such an exotic Falcon Heavy configuration. Pad 39A would need to be outfitted with an array of systems, including a liquid hydrogen propellant plant and the ability to load Orion and its service module with hypergolic propellant while atop Falcon Heavy and vertical on the pad. To allow for vertical Orion/ESM/ICPS processing and fueling and support the massive weight and height (~95m vs. 70m) of the vehicle, the transporter-erector would need to be heavily modified. Additionally, Falcon Heavy’s aerodynamic characteristics would need to be entirely reanalyzed for such a significantly taller payload fairing.

But, as Bridenstine made clear above, those challenges would be par for the course of accomplishing something as audacious as returning humans to the Moon in less than six years. Whether or not NASA actually pursues or Congress funds such an alternative beyond the drawing board, the cat is now officially out of the bag. A potentially satisfactory replacement for SLS will now hang over the program’s head for the indefinite future, a constant threat in the (quite likely) event that the many SLS/Orion contractors fail – once again – to even loosely adhere to their budget and schedule targets. Falcon Heavy will be waiting.
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Elon Musk
SpaceX (SPCX) IPO is live today at $135: Here’s exactly what you need to know
SpaceX priced its historic IPO at $135 per share today, raising a record $75 billion.
SpaceX officially priced its initial public offering at $135 per share, offering 555,555,555 shares of Class A common stock and raising $75 billion in what is the largest IPO in stock market history. Shares are set to begin trading on the Nasdaq Global Select Market on Friday, June 12, under the ticker symbol SPCX. The previous record holder was Saudi Aramco’s 2019 offering at $29 billion, followed by Alibaba’s $22 billion offering in 2014.
At $135 per share and roughly 555.6 million shares, the implied valuation sits near $1.75 trillion, which would make SpaceX roughly the seventh largest company in the United States, just above Tesla’s current market cap. Regular investors can request shares at the IPO price through Robinhood, Fidelity, Charles Schwab, SoFi, and E*TRADE, though the deal is heavily oversubscribed and most retail allocations will be partial or unfilled. Once trading opens June 12, anyone with a brokerage account can buy SPCX on the open market.
SpaceX’s amended S-1 is sparking a major Tesla merger conversation
The valuation is anchored primarily by Starlink. Starlink crossed 10 million subscribers as of February 2026 and is adding 750,000 to 1.5 million new users per month, with the connectivity segment already posting a $1.19 billion profit last quarter. The offering also bundles in xAI following SpaceX’s all-stock merger earlier this year, adding Grok and the Colossus supercomputer to the investment thesis. As Teslarati reported, Starlink ended 2025 with $10 billion in revenue, a figure analysts project could reach $24 billion by end of 2026.
Wedbush analyst Dan Ives has been vocal in his support. “I think the time is right,” Ives said, adding that the offering expands the Elon Musk ecosystem rather than competing with Tesla. An average 12-month price target of $165 per share represents roughly 22% upside from the IPO price. Not everyone agrees – Motley Fool noted xAI is spending $1 billion per month playing catch-up to OpenAI and Anthropic.
Musk founded SpaceX in 2002 with a single stated purpose. “Elon founded SpaceX with a goal to change humanity, to make us a multi-planet species,” CFO Bret Johnsen said in the company’s retail roadshow video this week. Musk himself has been more direct: “We are building the systems and technologies necessary to provide global connectivity on Earth and beyond, to understand the true nature of the universe, and to extend the light of consciousness to the stars.”
Elon Musk
SpaceX’s Elon Musk relieves worries about orbital data centers
SpaceX CEO Elon Musk recently confronted worries about orbital data centers and launching satellites in mass quantities in space, as some voiced concerns about crowding.
Musk’s SpaceX plans to combat the issue of needing data centers by launching them into space instead of taking up valuable real estate on Earth. It has been a major point of SpaceX’s future, including its looming IPO, which could be the largest ever.
In a recent interview filmed at SpaceX’s Starlink terminal factory in Bastrop, Texas, Elon Musk directly addressed concerns that deploying large numbers of AI satellites for orbital data centers could crowd Earth’s orbit. His message was straightforward and reassuring: space is vast beyond human intuition.
“Space is really big,” Musk said. “It’s not like space is gonna get crowded. Space is enormous. If you actually look at it relative to the Earth, the satellites are so tiny you can’t even see them.” He emphasized that even zooming in makes a satellite appear large, but from a planetary perspective, they are minuscule specks.
Elon on concerns that AI satellites will crowd space:
“Space is really big. It’s not like space is gonna get crowded. Space is enormous. If you actually look at it relative to the earth, the satellites are so tiny you can’t even see them.” https://t.co/Mvr7NpL25Q pic.twitter.com/5Fi629Rii7
— Sawyer Merritt (@SawyerMerritt) June 8, 2026
Musk pointed to SpaceX’s real-world experience operating roughly 10,000 Starlink satellites as evidence that large constellations can be managed safely. “We’ve got a pretty good idea of how to operate just really large constellations and do it safely,” he noted. SpaceX remains the only operator with meaningful experience at this scale, giving the company unique insight into tight orbital packing without compromising safety
The discussion highlighted SpaceX’s plans for “AI1” satellites—essentially orbiting racks of AI compute powered by massive solar arrays and cooled via radiative panels in space’s vacuum.
These satellites leverage proven Starlink V3 technology, making them simpler to design than communications satellites. A first-generation unit targets around 150 kW peak power, with a 70-meter wingspan for solar panels and radiators. Laser links will connect them to each other and the Starlink network, delivering low-latency access (on the order of a few milliseconds from low-Earth orbit).
FCC accepts SpaceX filing for 1 million orbital data center plan
Musk framed orbital data centers as a practical solution to Earth’s constraints on AI growth. Ground-based facilities face power shortages, water demands for cooling, and grid limitations. In space, constant sunlight (no day-night cycle), vacuum radiative cooling, and abundant solar energy offer clear advantages.
Production will ramp up at an expanded “Gigasat” factory in Bastrop, with solar manufacturing already underway and full AI satellite output expected at reasonable volume by the end of 2027. Starship’s rapid, high-volume launch capability, aiming for multiple flights per hour, will make massive deployment feasible.
Critics sometimes raise risks like space debris or Kessler syndrome, but Musk’s response underscores scale: even a million satellites would represent an imperceptible fraction of available orbital volume when viewed against Earth’s size. SpaceX’s automated collision avoidance and deorbiting designs for Starlink further mitigate concerns.
This vision ties into broader ambitions. Musk sees orbital AI compute as a step toward harnessing more of the Sun’s energy, advancing humanity on the Kardashev scale from a Type 0 civilization toward Type 1 and eventually Type 2. By moving power-hungry data centers off-planet, SpaceX aims to unlock orders-of-magnitude more compute while preserving Earth’s resources.
Musk’s comments should ease public anxiety. With proven operational expertise, incremental engineering, and the immensity of space itself, orbital data centers represent not overcrowding, but smart expansion into the final frontier.
Investor's Corner
SpaceX IPO set to provide massive $11.6B windfall for teacher pension plan
The Ontario Teachers’ Pension Plan (OTPP) stands to reap one of the most extraordinary returns in pension fund history thanks to a bold 2019 investment in SpaceX.
According to a recent report from The Globe and Mail, the Toronto-based fund invested roughly $300 million CAD (~$220 million USD at the time) in Elon Musk’s space company as its inaugural deal through the Teachers’ Innovation Platform.
At SpaceX’s anticipated $1.75 trillion IPO valuation, set for a mid-June debut on Nasdaq under ticker $SPCX, that stake could now be worth up to $11.6 billion USD. This would represent a roughly 50x return and easily become OTPP’s most successful single investment ever.
The fund manages $279 billion in assets for approximately 346,000 working and retired teachers in Ontario, potentially delivering an average boost of around $33,500 per member if fully realized.
SpaceX has filed its S-1 and plans to price shares at $135 each, aiming to raise a record $75 billion in what would be the largest IPO in history, surpassing Saudi Aramco. The company reported $18.67 billion in revenue for 2025, driven primarily by Starlink satellite internet growth and NASA contracts, though it continues to post significant losses tied to ambitious R&D in Starship and AI initiatives.
Important pieces moving forward include:
- Starlink Expansion: The satellite broadband service is scaling rapidly, targeting global connectivity, especially in underserved rural and remote areas. This segment offers massive recurring revenue potential as numbers climb.
- Starship and Reusability Leadership: SpaceX’s fully reusable Starship aims to slash launch costs dramatically, enabling frequent missions, Mars ambitions, and lucrative government/defense contracts. Success here could unlock exponential growth.
- AI and Diversification: Recent moves, including ties to xAI, position SpaceX in high-growth AI infrastructure, broadening beyond traditional aerospace.
- Validation Scrutiny: While the $1.75 trillion target excites investors, analysts like Morningstar value the company closer to $780 billion, citing high multiples (around 90x trailing revenue) and execution risks. A 180-day lockup period will prevent early investors like OTPP from selling immediately post-IPO.
The irony has not been lost on observers. Ontario’s government previously canceled a Starlink rural internet contract amid political tensions involving Musk, yet the pension fund’s savvy investment, made when SpaceX was valued around $33-36 billion, and Starlink was nascent, delivers outsized gains independent of politics.
For OTPP, this windfall strengthens its already solid 111 percent funding ratio and underscores the value of patient, innovation-focused capital allocation.
For SpaceX, the IPO marks a new chapter: greater transparency, access to public markets for talent retention and growth capital, and heightened pressure to deliver on its multi-planetary vision.
All eyes are fixed on whether SpaceX can justify its lofty valuation through sustained execution. For Ontario teachers, the returns are already stellar, but SpaceX, like other Musk companies in the past, has plenty of things to prove. Perhaps the most ideal person for the job is at the helm, hoping to bring the company to a massive valuation.