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SpaceX wins launch contract for NASA mission to study unique metal asteroid

Falcon Heavy lifts off from Pad 39A on its third launch ever. Sadly, center core B1057 was unable to stick its drone ship landing. (Tom Cross)

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6 years ago

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SpaceX has been awarded a $117 million launch contract for NASA’s Psyche mission that will study a unique metal asteroid between Mars and Jupiter.

The NASA mission to loft a 5,750-lb. (2,608-kg) spacecraft atop of SpaceX’s Falcon Heavy Rocket will study a mineral-rich asteroid named 16 Psyche. The mission is expected to take place sometime in 2022 and launch from NASA’s historic Launch Pad 39A in Cape Canaveral, Florida.

Psyche is an intriguing, metallic world orbiting in the asteroid belt, between Mars and Jupiter. Most asteroids are made of rock and ice, but not Psyche — it’s composed of iron and nickel. That’s what makes it an interesting target. 

Scientists want to study it because they believe Psyche could provide insight into how planets form. Terrestrial bodies, like the Earth, have metallic cores deep in their interior, below the outer layers like the mantle and crust. Psyche could be one of these metallic cores: the remnant of a violent collision with another planetary body billions of years ago.

We’re unable to study the Earth’s core directly, so Psyche could provide a lot of insight into our own planet as well as how other rocky planets form.

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The Psyche mission was selected in 2017 as part of NASA’s Discovery Program, which also includes historic missions like the Kepler Space Telescope, and the InSight Mars lander.

This mission is one of true exploration because scientists aren’t exactly sure of what we will find. Ground-based measurements indicate that Psyche could be as large as Mars, and is probably shaped like a potato. But is this hunk of metal the dead, exposed heart of an ancient protoplanet or could it be a weird iron-rich alien world?

The spacecraft is packing a suite of four instruments that will enable the science team to determine what happened to 16 Psyche over its lifetime. Right now the team postulates that Psyche is the metallic core of a planetary body that was destroyed billions of years ago through an incredibly violent collision with another world. There’s evidence to indicate that Psyche was once molten, and cooled after having its crust stripped away. 

Planetary impacts, such as a meteor slamming into the Earth, have been studied for as long as scientists have been studying planets. Understanding these events are a fundamental aspect of planetary science. They can tell us the age of a planetary surface, and much more. Historically, impact studies have focused on rocky worlds, and recently icy bodies. But what happens on a metal world? No one knows. 

Wright Mons on Pluto is one of two cryovolcanoes on the planet’s surface. Volcanoes come in many forms and we could see evidence of volcanoes on Psyche’s surface. Credit: NASA

If Psyche was once a molten world, as the science team believes, it could join the list of volcanic worlds in the solar system. We’re all familiar with the volcanoes that we see here on Earth. Mars had similar ones in its past, like Olympus Mons. But these are not the only types of volcanoes we see in our cosmic backyard. Icy worlds like Pluto and Ceres have evidence of cryovolcanoes.

These are different than what we see on Earth because they spew icy materials instead of lava. Psyche could be even more strange, with evidence of molten metals such as iron and nickel on its surface.

Psyche will test an experimental laser technology that will aim to improve communications with spacecraft over vast distances. It will also launch with two secondary payloads: Escape and Plasma Acceleration and Dynamics Explorers (EscaPADE), which will study Mars’ atmosphere and the process by which it’s being lost to space; and Janus, which will focus on binary asteroids and how they form.

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This is SpaceX’s 8th contract from NASA’s Launch Services Program (LSP) and the first for Falcon Heavy. SpaceX’s workhorse, the Falcon 9 has several science missions under its belt, having launched NASA’s Transiting Exoplanet Survey Satellite (TESS), and will launch the upcoming PACE mission, which is designed to study the Earth’s oceans and atmosphere.

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I write about space, science, and future tech.

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Investor's Corner

SpaceX reports beat in first earnings while minimizing losses

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22 minutes ago

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August 4, 2026

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Credit: SpaceX | X

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.

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Elon Musk

Elon Musk sends second warning to SpaceX shorts ahead of first earnings

Published

59 minutes ago

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August 4, 2026

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Credit: Grok Imagine

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.

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.

Elon Musk sends first warning to SpaceX short sellers

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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.

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Tesla’s AI lead doubles down on FSD’s speed strategy, and owners are confused

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4 hours ago

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August 4, 2026

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Credit: Tesla

Tesla’s AI lead Ashok Elluswamy doubled down on the company’s strategy regarding Full Self-Driving’s speed settings, and owners are definitely confused.

Earlier versions of Full Self-Driving allowed owners to set a max speed that the vehicle could travel while operating under the semi-autonomous driver assistance platform. This allowed more customization for the driver, giving them the ability to experience FSD’s robust performance with their own personal preferences.

Speed is massively important for obvious reasons — it’s not only a question of keeping the vehicle occupants comfortable by traveling at a safe speed, but it’s also something that could contribute to a ticket or infraction from law enforcement.

With the release of FSD v14 last year, Tesla removed the ability to set a max speed and instead opted for five Speed Profiles, ranging from “Sloth,” the most conservative, to “Mad Max,” the most aggressive and spirited. These profiles not only control speed, but also how frequently the vehicle will execute passes, perform lane changes, and other contributing factors.

The removal of the Max Speed setting was a major complaint amongst the Tesla community because it left owners scrambling for a way to experience suitable behaviors while traveling at an appropriate speed. Most felt the driving profiles would be a good indicator of the behaviors, while speed would still be left up to the discretion of the driver.

Instead, Tesla’s Speed Profiles determine both, and the constant tinkering of how they behave has been a major bottleneck and point of confusion for both owners and the company. From update to update, the Speed Profiles will change, sometimes more drastically than others. Some owners have complained that the “Standard” profile is too fast, while others have experienced “Mad Max” traveling below the speed limit:

These things change with each update, but the big complaint is that owners are on the hook for any tickets that come from FSD’s infractions; that’s the caveat of the suite being named FSD (Supervised). It ultimately means the driver is responsible, and the automaker has no liability when it comes to speeding tickets or general traffic infractions.

It is the driver’s responsibility to take over or adjust based on this.

Elluswamy essentially confirmed that there are no plans to bring back Max Speed control, because it is what he referred to as “an anti pattern.” He then echoed something that CEO Elon Musk has started to really push with FSD, and that’s the idea that Tesla is really honing in on the preferences of the driver.

Owners were confused by Tesla’s decision, stating that there must be a better way, especially considering disengagements for incorrect speeds are common:

From personal experience and using FSD for over 72 percent of my driving miles since v14 was released late last year, I make Speed Profile adjustments constantly. If FSD is traveling a tad too quickly, I will scale it back, and if it’s too conservative, I’ll make it more aggressive.

I don’t complain about making the Speed Profile changes too frequently, but it would certainly be nice to have it happen less frequently. There are far too many times I am concerned about getting a ticket, even in Standard mode.

The biggest issue for me, personally, which seems to be echoed throughout the community, is the fact that Tesla’s goal is to minimize disengagements. Many drivers are stating that speed is a major reason for disengagements.

However, Tesla is not willing to bring back this one level of input because it would technically be a regression.

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Whether it’s right or wrong in your opinion, it is what Tesla is going with, and it seems like it has pivoted quite a bit from its other strategies for minimizing interventions by pushing its AI to behave in a way that would fit the occupant’s personal preferences.

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