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.
-
Investor's Corner
SpaceX and Nvidia team up on Musk’s orbital AI bet
SpaceX revealed a new Nvidia satellite partnership, then Musk pledged an exclusive Nvidia hardware commitment.
SpaceX and Nvidia are now working together on the hardware that will power Musk’s orbital data center ambitions. SpaceX announced on X on Tuesday that it is partnering with Nvidia to design the compute payload for Starmind AI1, the first satellite in a planned constellation built to run AI workloads directly in orbit. Each Starmind satellite will carry Nvidia’s Rubin GPUs and Vera CPUs, according to the post, which included renderings of the payload design.
The announcement landed hours before SpaceX’s first earnings call as a public company, where Musk went further, saying the company has committed to building its AI infrastructure exclusively on Nvidia hardware. “We think the Vera Rubin architecture is the best architecture. We think it’s the best AI computer, and we greatly value our close cooperation and partnership on many levels with Nvidia,” Musk told investors on the call,. “So we’re exclusive to Nvidia.”
Musk said SpaceX plans to deploy Nvidia’s Vera Rubin NVL72 rackscale system, codenamed Kyber, both on the ground and in space. He set a target of 2 gigawatts of compute capacity online by the end of this year, scaling to roughly 10 gigawatts by the end of 2027.
SpaceX’s newest Starmind will make earth data centers obsolete
Starmind has been in development since Musk confirmed the name in June, following an xAI trademark filing that tipped off the project before SpaceX made it official. The idea is massive in scope and instead of moving data down to ground based servers, satellites equipped with onboard processors and large solar arrays would compute AI workloads in orbit and beam results back to Earth. SpaceX has already filed with the FCC for a constellation of up to one million satellites to support the effort, citing constant solar power and the absence of zoning restrictions as advantages over terrestrial data centers.
The Nvidia exclusivity marks a shift in tone from just two weeks ago, when Musk was busy knocking down a report that SpaceX had ordered $52 billion worth of Nvidia GPUs through Foxconn, calling it fake news at the time. The dollar figure in that rumor may have been wrong, but the underlying direction seems correct. SpaceX’s AI division already leases Colossus compute capacity to Anthropic and Google, and Tuesday’s earnings report showed AI revenue climbing sharply as those deals ramp up.
Nvidia shares rose roughly 3% in Tuesday trading on the news, while SpaceX stock climbed nearly 9% during the day before giving back gains after hours as investors digested the earnings report’s capital spending figures.
SpaceX (NASDAQ: SPCX) reported a beat in revenues and EBITDA in its first earnings call report while also minimizing losses as its business continues to gain momentum.
After its IPO in July, SpaceX saw some tough losses on Wall Street due to a major selloff after a delay in its 13th Starship test flight. The ship launched later that week and completed what was arguably the most successful IFT operation in the Starship program’s history.
Nevertheless, the company is continuing on and reported some encouraging financials while also promoting what appears to be a robust outlook moving forward in its Space, AI, and Connectivity divisions.
SpaceX to report first-ever earnings today: here’s what to expect
Earnings Results
- Revenues: $7.8 billion reported vs. $6.7 billion expected
- Adjusted EBITDA: $3.5 billion vs. $2 billion expected
- Net loss of $541 million, an improvement of $467 million from net loss of $1.0 billion
Additionally, CFO Bret Johnsen had these comments:
“2026 has been a momentous year so far, and the second quarter demonstrated the true power of SpaceX. Revenue growth accelerated across all our business segments and we delivered strong operating leverage, with significant margin expansion led by our new AI compute agreements. Our unparalleled leadership in launch, Starlink subscriber growth, new enterprise and government partnerships, and best-in-class AI infrastructure underscore our ability to drive meaningful scale and deliver attractive returns. As a newly public company, we are delighted to welcome our broad base of shareholders and bondholders. We ended the second quarter with $100 billion of cash, cash equivalents, and marketable securities, and $47.5 billion in backlog. This financial strength gives us substantial capacity to invest in Starship, Starlink Broadband and Mobile satellites, and our AI platform, while maintaining a disciplined long-term capital allocation framework.”
Space Business Highlights
SpaceX shared some of its biggest Space Business Highlights for Q2:
- Space revenues grew 55% sequentially and 29% year-over-year to $962 million, driven by a higher number of large customer launches and a favorable customer shift compared to the prior year
- Total costs and expenses for the Space segment were up by $389 million year-over-year, as we continued to accelerate R&D investments in our Starship program, which we believe will reduce the cost to orbit by 99% or more relative to the historical average, and unlock significant revenue potential across all business segments
- Leading launch provider for the world with 78 launches and 1,041 metric tons of mass to orbit deployed over the six months ended June 30, 2026, primarily allocated to Connectivity for the deployment of our Starlink constellation
- Starship V3 development continued to advance towards full and rapid reusability:
- Completed Starship V3’s first suborbital mission in May, Flight 12, which achieved a successful lift off from our new Starbase pad, a precision landing of Starship’s upper stage, and deployment of modified V2 Starlink satellites
- Subsequent to the second quarter, completed Starship Flight 13 in July, which achieved all flight objectives including deploying 20 production V3 satellites, demonstrating in-space relight of a Raptor engine, and executing the softest ever splashdown of Starship, providing critical views of an intact heatshield
SpaceX will report its earnings today at 4:30 P.M. EDT.
Elon Musk issued a second pointed warning to SpaceX short sellers on Tuesday, just hours before the company was set to release its first quarterly earnings as a publicly traded firm. Responding to a report highlighting elevated short interest, Musk wrote on X: “I try to warn them, but they just double down …”
The comment came as data from S3 Partners showed roughly 95 percent of available SPCX shares to borrow were on loan, translating to about 34 percent short interest as a percentage of the float. The stock has traded under pressure since its record-breaking IPO in June 2026, declining significantly from early peaks.
I try to warn them, but they just double down … 🤷♂️
— Elon Musk (@elonmusk) August 4, 2026
This marks the second such message from Musk in under three weeks.
On July 17, amid post-IPO volatility, he stated: “The survival probability of firms who maintain a significant short position in SpaceX over time is very low.” At that time, SPCX had fallen roughly 30 percent from its peak above a $2.6 trillion valuation, with short sellers reportedly realizing gains of about $8.7 billion.
Musk’s warning aligned with optimistic analyses projecting that Starship-driven cost reductions could enable a multi-trillion-dollar space economy through applications such as orbital solar power, asteroid mining, data centers, and Mars-related projects, positioning SpaceX as critical infrastructure.
SpaceX is scheduled to report second-quarter results after the market close later today, followed by a webcast. Analysts anticipate revenue near $6.9 billion, reflecting growth in Starlink, launch services, and AI-related segments. The earnings release precedes a major lockup expiration on August 6 that could free hundreds of millions of insider shares.
Musk has a long track record of confronting short sellers, particularly regarding Tesla, where he has argued that persistent bearish positions underestimate transformative technologies. Critics view his optimism as overly ambitious given near-term stock fluctuations, while supporters see temporary dips as opportunities in a longer-term expansion of the space economy.
As SpaceX opens its books to public scrutiny for the first time, the high short interest and Musk’s repeated cautions set the stage for heightened market attention on the results and management’s commentary.
SpaceX and Nvidia team up on Musk’s orbital AI bet
SpaceX reports beat in first earnings while minimizing losses
