News
SpaceX Falcon Heavy launch contracts reach double digits after latest NASA win
For the third time in seven months, NASA has contracted SpaceX’s Falcon Heavy rocket to launch a high-value scientific spacecraft, raising the number of active contracts for the world’s most powerful rocket into the double digits.
In a twist that has become increasingly unsurprising, a spokesperson from SpaceX competitor United Launch Alliance (ULA) says that the company – the only other competitor for the contract – withdrew its bid because it had no more Atlas V rockets available. ULA announced earlier this year that it had officially stopped selling Atlas V launches, leaving a total of 29 more launches – all already reserved for specific customers – before the rocket is fully retired. Unfortunately for ULA, the Vulcan Centaur rocket it’s been developing to replace Atlas V and Delta IV since 2013 or 2014 is years behind schedule.
Somewhat inexplicably, even though ULA bid Vulcan to launch a high-value NASA payload in Q4 2024 as recently as this year, the company apparently didn’t feel that its next-gen rocket would be ready to launch a different payload in Q2 2024. In response, NASA’s only option to launch the GOES-U geostationary weather satellite was SpaceX’s offering, guaranteeing it the contract when ULA backed out of the competition.
Part of an 18-satellite fleet dating back to the 1970s, GOES-U will be the fourth and (as of now) final satellite in a modern extension of the GOES (Geostationary Operational Environmental Satellite) program contracted by NASA for NOAA in 2008. In 2013, GOES-T and GOES-U were added to the original GOES-R and GOES-S, nominally resulting in four satellites built by Lockheed Martin for an average of ~$350M each.
ULA or ULA-heritage rockets have launched all 18 GOES satellites to date and there was little reason to believe that wouldn’t continue until the end of the GOES-R series. However, as a result of ULA’s major Vulcan development delays, it appears that the company now finds itself temporarily incapable of competing for launch contracts. That makes it hard to judge whether SpaceX would have won GOES-U without ULA’s withdrawal, though it’s difficult to imagine ULA could have beat Falcon Heavy’s $153M contract price.
In one of the most unequivocal signs of SpaceX’s immense impact on even the launch contracts it lost, ULA’s first two GOES-R-series Atlas V launch contracts were each valued at $261M in 2021 dollars when they were awarded in 2013. In 2019, NASA again awarded ULA a contract to launch GOES-T on an identical Atlas V 541 rocket – but this time for just $177M (2021).
It’s unclear what kind of configuration Falcon Heavy will be in for its April 2024 GOES-U launch. For ULA’s GOES-R and GOES-S launches, Atlas V has delivered each ~5200 kg (~11,500 lb) weather satellite to an “optimized geosynchronous transfer orbit [GTO].” A bit like a middle ground between an elliptical GTO launch and a direct-to-geostationary-orbit (GEO) launch, both missions required Atlas V’s Centaur upper stage to perform three separate burn – and one after a three-hour coast. In theory, Falcon Heavy should be able to easily launch GOES-U to a similar orbit while allowing SpaceX to recover all three boosters, though it’s possible that safety margins will mean the center core is expended.
Regardless, Falcon Heavy continues to more than prove that SpaceX made the right choice by investing significantly more than $500M of its own money to develop the rocket. In 2021 alone, the rocket has secured three NASA launch contracts worth around $660M. In 2020, SpaceX won another ~$120M Falcon Heavy launch contract from NASA. All told, the rocket has now earned the company ten active launch contracts, including four or five in 2022 alone: ViaSat-3, USSF-52, NASA’ Psyche, USSF-67, and perhaps an Inmarsat commsat. In 2023, Falcon Heavy could launch Astrobotic’s first Griffin Moon lander with NASA’s VIPER rover, followed by GOES-U, Europa Clipper, and (though delays are very likely) two parts of NASA’s Gateway lunar space station.
-
Including USSF-44 (scheduled to launch next month) and assuming Inmarsat’s I-6 F2 commsat ends up on Falcon Heavy, the rocket now has ten launch contracts after winning GOES-U. Additionally, while the program appears to be in limbo, NASA did technically announce plans for SpaceX to launch at least two Dragon XL spacecraft on Falcon Heavy to resupply the lunar Gateway station – a total of 12 missions if those plans turn into tangible contracts.
Elon Musk
The Boring Company’s newest tunnel vehicle runs on Tesla parts and no one is driving it
The Boring Company’s new tunnel vehicle runs on Tesla Model 3 batteries and drive units.
The Boring Company just introduced a new piece of hardware, and it runs on parts pulled straight from a Tesla showroom. Liner Truck 3, unveiled in a post from the tunneling company’s official X account, is an all electric vehicle built around Tesla Model 3 battery packs and drive units, purpose built to move concrete tunnel segments to the boring machine face without a single person underground.
Introducing Liner Truck 3 — our latest fully electric tunnel vehicle.
– Tesla Model 3 battery and drive units
– Transports 22,000+ lb of concrete segments to the boring machine
– 28 miles of range
– 12 mph max operating speed
– Remotely piloted from Global OCC in Texas, with… pic.twitter.com/XB7FgSXnpy— The Boring Company (@boringcompany) August 7, 2026
The job itself is unglamorous but critical. Each precast segment run weighs more than 22,000 pounds, roughly the load of a full cement mixer, and Liner Truck 3 hauls that weight repeatedly between the surface staging area and wherever the Prufrock machine happens to be cutting.
The Boring Company said Liner Truck 3 is piloted remotely out of its Global Operations Control Center in Texas, extending the Zero-People-In-Tunnel approach the company has spent years building toward. An earlier version of a ZPIT liner truck was already tested at the company’s Bastrop, Texas research tunnels, and a factory tour released last month showed an employee flying a fully loaded liner truck with a PlayStation controller. Liner Truck 3 looks like the production version of that same idea, cleaned up and pushed into daily use.
The timing lines up with a company digging in more places than it ever has before. The Boring Company now has multiple Prufrock machines active or arriving in Nashville, where Music City Loop construction has been accelerating since February, and its Vegas Loop network keeps adding tunnel mileage on a near monthly basis. Every one of those projects depends on getting concrete segments to the cutting face fast enough to keep the boring machine from idling, which is exactly the bottleneck Liner Truck 3 is designed to remove.
It also reinforces something Tesla owners have watched happen gradually across Musk’s companies: passenger car hardware finding a second life in heavy equipment. Model 3 drive units already move people through the Vegas Loop, and now the same components are hauling concrete underground in Nashville and wherever The Boring Company digs next. Whether that kind of component reuse extends further into TBC’s equipment lineup, or into other Musk owned industrial hardware, is the next thing worth watching.
SpaceX stock did the opposite of what most of Wall Street expected this week, when the day designed to be its most dangerous turned into a rally, and the rally kept going.
Thursday marked the first major lockup expiration since SpaceX’s June IPO, making roughly 911.5 million insider held shares eligible to trade for the first time, more than doubling the company’s public float. Analysts and short sellers had spent weeks bracing for a flood of selling, especially after the stock fell 13 percent following its first earnings report as a public company on Tuesday. Instead, shares rose 6.1 percent Thursday to close at $114.92, and by Friday they were trading near $129, up more than another 12 percent on the day.
SpaceX shorts get warned by Musk ally, echoing Tesla’s early struggles
The setup made the outcome notable. Short interest had climbed to roughly 34 percent of the float heading into earnings, among the highest of any large cap stock, with about 95 percent of available shares to borrow already on loan. CEO Elon Musk warned short sellers twice in the weeks before the lockup, writing on X that “the survival probability of firms who maintain a significant short position in SpaceX over time is very low,” then following up on the morning of earnings with “I try to warn them, but they just double down.”
When the newly unlocked shares hit the market and the selloff never showed up, some of that short position appears to have started unwinding. TipRanks reported that options activity shifted toward bullish strategies like put selling and risk reversals following the rally, with roughly $600 million in options premium trading Thursday alone. Retail buyers also stepped in during the earnings dip, according to Vanda Research.
The fundamentals behind the stock have not changed much in a week. SpaceX’s revenue nearly doubled year over year to $7.8 billion, with Starlink subscribers doubling to 12 million and the company’s AI segment growing 247 percent. What spooked investors on Tuesday was the spending side. Capital expenditures jumped to more than $18 billion for the quarter, up from $2.8 billion a year earlier, with AI investment alone rising from $749 million to $15.8 billion. Wall Street remains split on whether that spending is building infrastructure SpaceX needs or outrunning what the business can currently support, a debate Teslarati has tracked since shares first came under pressure.
None of that resolves the bigger question hanging over the stock. Thursday’s release was only the first of nine staggered lockup tranches, with roughly $800 billion worth of additional shares scheduled to become eligible through October, and Musk’s own stake stays locked until next June. If this week is any indication, the market is treating that supply as something it can absorb rather than something to fear, at least for now.
News
The Boring Company’s newest Vegas Station has a permit quietly waiting behind it
Sahara Las Vegas opened a new Vegas Loop station, joining an exclusive two resort transit club.
Sahara Las Vegas opened a new Vegas Loop station Thursday, giving The Boring Company’s underground transit system its northernmost stop yet on the Strip. The station sits at Sahara’s Paradise Road entrance, on the southeast corner of Las Vegas Boulevard and Sahara Avenue, and connects riders to the Las Vegas Convention Center, other Strip resorts on the network and, eventually, Harry Reid International Airport.
The addition makes Sahara the second resort, after Fontainebleau opened its own station in January, to get a stop built at street level rather than tucked into the property itself. Sahara now joins Westgate as the only two Strip resorts offering both a Vegas Loop station and a stop on the Las Vegas Monorail, giving guests two separate ways to get around without leaving the property.
The Boring Company just doubled its tunneling power in Nashville
The bigger news buried in Thursday’s announcement is what comes next. Boring Company has already secured its first permit to tunnel north of Sahara Avenue, extending the network beyond where it currently ends, even though permits to push the Loop toward downtown Las Vegas still haven’t been granted. Crews are also working on a two mile dual tunnel line running from Westgate to a planned station at 4744 Paradise Road, just north of Tropicana Avenue, that Las Vegas Convention and Visitors Authority CEO Steve Hill has said the company hopes to open in time for November’s Las Vegas Grand Prix.
Ridership has grown alongside the buildout. The Loop moved roughly 82,000 passengers during CONEXPO in early March, a total the company highlighted on its own X account at the time, and the system has now carried more than 4 million passengers through 11 open stations since it began running in 2021. The airport connector tunnels, meant to give the Loop a direct link to Harry Reid, have slipped past their original first quarter target and remain under construction, with Boring Company director Mike Baier saying that a full opening is still a few months out.
For Sahara, the calculation is straightforward. Convention traffic drives a large share of Loop ridership, and a station at the property’s front door gives conventiongoers one more reason to book rooms on the Strip’s north end instead of closer to the convention center itself.
The Boring Company’s newest tunnel vehicle runs on Tesla parts and no one is driving it
Elon Musk and SpaceX shrugs off the trading day Wall Street feared most
