NASA says that its mission to the asteroid 16 Psyche will no longer be able to launch in 2022 after engineers were unable to verify the readiness of the spacecraft’s software.
What could amount to being a few weeks or months behind schedule will have major ramifications for the mission, extending its cruise phase – the time between launch and arrival at Psyche – by years. On top of significantly increasing Psyche’s overall cost, the delay means that yet another payload meant to launch on SpaceX’s Falcon Heavy rocket in 2022 (or earlier will) has slipped to 2023.
For years before its debut, Falcon Heavy itself was indefinitely delayed as SpaceX priorities and technology constantly shifted around it. Even after the first version of Falcon Heavy finally debuted in February 2018, SpaceX chose to immediately upgrade the rocket to use the latest Falcon Block 5 variant, which again experienced months of delays.
A bit less than a year behind schedule, the first upgraded Falcon Heavy successfully completed the rocket’s first commercial mission – Arabsat 6A – in April 2019. The second Falcon Heavy Block 5 followed suit in June 2019 with a rideshare mission that doubled as a complex test flight that ultimately allowed the US military to certify the rocket to launch its most valuable satellites. The rocket has not launched once since. As previously discussed on Teslarati, virtually every spacecraft manifested on Falcon Heavy since the rocket’s first three launches has experienced major delays.
“For unknown reasons, virtually every near-term Falcon Heavy payload has slipped significantly from its original launch target. Within the last few weeks, USSF-44 – meant to launch as early as June 2022 after years of delays – was “delayed indefinitely.” Delayed from Q3 2020, USSF-52 is now scheduled to launch in October 2022. ViaSat-3, once meant to launch on Falcon Heavy in 2020, is now NET September 2022. Jupiter-3, a record-breaking communications satellite that wasn’t actually confirmed to be a Falcon Heavy launch contract until a few weeks ago, recently slipped from 2021 and 2022 to early 2023.”
Teslarati.com – May 26th, 2022
Just a month later, USSF-44 is now NET December 2022, USSF-52 has reportedly slipped to April 2023, and Psyche has slid to July 2023. At least for now, ViaSat-3, USSF-67, and USSF-44 are still targeting 2022 launches, but it will take a minor miracle and the abrupt end of patterns of delays for even one of those missions to avoid slipping into 2023 over the next 3-6 months.
As a result, SpaceX continues to accumulate an increasingly absurd fleet of unflown Falcon Heavy boosters that were manufactured and tested for launch targets that are now years behind schedule. The company is now storing nine different Falcon Heavy side and center cores, one of which supported Falcon Heavy Block 5’s first two 2019 launches and the other eight of which are qualified for flight but have never flown. The grounded fleet may soon grow to 10 boosters, compared to the 11 or fewer active Falcon 9 boosters SpaceX will likely end the year with.
Due to the nature of interplanetary launch windows and destinations, Psyche will be a particularly painful delay for NASA. The August to October 2022 window NASA was recently targeting would have allowed the 2.6 ton (~5700 lb) spacecraft to enter orbit around 16 Psyche in early 2026. According to NASA, the best possible backup launch window in 2023 will now delay orbital insertion to 2029 or even 2030, effectively doubling the Psyche spacecraft’s cruise time. According to a 2022 decadal survey, the cruise phases of missions of a similar class have cost at least $30 million per year, meaning that Psyche’s 2022 to 2023 launch delay could easily cost NASA an extra $100 million.
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.
Tesla’s dreams of operating a fully autonomous ride-hailing platform just took a massive step toward reality, as two separate events have indicated the company is perhaps closer than ever to achieving self-driving as a product.
On Thursday, Tesla was granted authorization by the State of Texas to operate driverless vehicles in a commercial manner. On May 28, Senate Bill 2807, passed by the 89th Texas Legislature, took effect after being passed back on September 1, 2025.
The bill establishes a statewide regulatory framework requiring authorization from the Texas Department of Motor Vehicles for companies to operate automated vehicles commercially on Texas roads.
This covers driverless, or SAE Level 4+, operations for passenger transport, meaning Robotaxi, or freight.
Tesla and other companies can self-certify their vehicles and tech as long as they:
- Operate in compliance with Texas traffic laws
- Maintain proper registration, title, and insurance
- Use compliant automated driving systems
- Record onboard activity and handle system failures and glitches safely.
The new authorization, which was first reported by James Stephenson on X, allows companies to utilize their own processes to determine if their vehicles are ready to operate without drivers.
🚨BREAKING:
Tesla has been authorized by the State of Texas to operate driverless vehicles commercially under the new law that took effect today, May 28th, 2026. Tesla has officially self-certified the software running on its robotaxis as Level 4. $TSLA pic.twitter.com/KSJdsvlaW5— James Stephenson (@ICannot_Enough) May 28, 2026
It is a rule that expedites the entire approval process, keeping agencies out of a usually long, lengthy, and frustrating task that is essential to technological advancements. It essentially means Tesla can launch commercial Robotaxi operations at this point.
On the very same day, Tesla continued the momentum as CEO Elon Musk shared a video of Cybercab units autonomously driving off the property at Gigafactory Texas. This is a major step in the story of the Cybercab.
Mass production of the Cybercab started at Giga Texas in April, and it is already heading out of the factory on its own.
Cybercab driving itself out of the GigaTexas factory pic.twitter.com/EwAMVVDjYy
— Elon Musk (@elonmusk) May 28, 2026
These two major events mark a drastic step forward in Tesla’s progress toward Cybercab and the permissions it needs to operate a self-driving ride-hailing service. Tesla is now able to operate autonomously under Texas law by self-certifying, and with the potentially imminent rollout of Cybercab, Tesla’s autonomous dreams are starting to take serious shape.
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.
Elon Musk strikes down reports on SpaceX IPO rumors
Tesla’s Robotaxi dreams just took a massive step toward reality
