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SpaceX’s Falcon Heavy flies a complex mission for the Air Force in launch video
SpaceX has gone to unique lengths for the third launch of its Falcon Heavy rocket and made an exhaustive webpage dedicated to the mission, reviewing its importance to SpaceX and the United States and discussing most of its 23 manifested spacecraft.
Known as the US Air Force’s Space Test Program 2 (STP-2) mission, Falcon Heavy Flight 3 will be a critical pathfinder for the US military’s systematic utilization of both Falcon Heavy and its flight-proven boosters.
The STP-2 mission will be among the most challenging launches in SpaceX history with four separate upper-stage engine burns, three separate deployment orbits, a final propulsive passivation maneuver and a total mission duration of over six hours. [It] will demonstrate the capabilities of the Falcon Heavy launch vehicle and provide critical data supporting certification for future National Security Space Launch (NSSL) missions. In addition, [the USAF] will use this mission as a pathfinder for the [military’s systematic utilization of flight-proven] launch vehicle boosters.
SpaceX, April 2019
SpaceX offers a very effective summary of the various challenges presented by Falcon Heavy’s STP-2 mission and third launch. It’s as challenging as it is for one very specific and largely artificial reason. All the way back in 2012, the USAF contracted the launch to give SpaceX a low-risk opportunity to demonstrate specific capabilities the military branch requires before they certify a given rocket to launch high-value payloads. Originally intended to fly STP-2 in mid-2015, Falcon Heavy suffered almost five years of delays during its development, caused by a combination of unexpected technical difficulties and two catastrophic Falcon 9 failures in 2015 and 2016.
After spending the whole of 2017 gradually catching up on delayed customer launches, SpaceX successfully conducted Falcon Heavy’s launch debut on February 6th, 2018. Four months later, the Air Force announced that it had completed the SpaceX rocket’s preliminary certification and awarded the company a $130M launch contract for AFSPC-52, a classified military satellite. According to documents describing the mission, the satellite weighs approximately 6350 kg (~14,000 lb) and needs to be placed into a geostationary transfer orbit (GTO) measuring 35,188km X 185km (21,850 mi X 115 mi).
Conveniently, Falcon Heavy’s commercial launch debut saw the massive rocket deliver the communications satellite Arabsat 6A – weighing ~6450 kg (~14,200 lb) – into an extremely high GTO, almost 90,000 km X 330 km (56,000 mi X 205 mi). In simpler terms, Falcon Heavy Flight 2 was an almost perfect demonstration that SpaceX is more than capable of successfully launching AFSPC-52, a milestone that could come as early as H2 2020.
The STP-2 mission should help to boost the US military’s confidence in Falcon Heavy even further. The mission is comprised of 23 separate satellites from a dozen or so different groups, ranging from a NOAA weather satellite constellation to a NASA-built atomic clock. The purpose of such a varied range of payloads is to have SpaceX’s Falcon upper stage (S2) place three separate sets into three distinctly different Earth orbits, a challenge that will require the rocket to ignite its Merlin Vacuum engine four times and survive in space for more than six hours.
SpaceX has been testing this critical long-coast technology since at least February 2018, when Falcon Heavy’s debut included a six-hour coast of the upper stage to send a Tesla Roadster on an Earth escape trajectory. SpaceX completed that test successfully and said Roadster is now orbiting the sun on a trajectory that regularly reaches beyond the orbit of Mars. SpaceX has continued to test the longevity of its universal Falcon upper stage, including a handful of on-orbit demonstrations after completing customer missions.
Aside from opening the door for new areas of competition in military launch procurement, successfully proving the long-coast capabilities of the Falcon upper stage will also mean that SpaceX can offer them commercially. Military launches often require long coasts in order to get spacecraft to their operating orbits as quickly as possible, typically involving an upper stage burning at the top of a transfer orbit to circularize said orbit. This capability can also be of significant value to non-government customers, however, as the faster a satellite can get to its operational orbit, the faster its owner can start using it to generate revenue. Traditionally, most commercial geostationary communications satellites are sent to transfer orbits, raising one end of the orbit (apogee) but leaving the low end (perigee) in low Earth orbit. Satellites then use their own propulsion systems to circularize their orbits before they can begin commercial operations.
It’s safe to assume that SpaceX is interested in commercially offering services like those above to make Falcon Heavy even more competitive with the likes of ULA’s Atlas/Delta/Vulcan rockets and Arianespace’s Ariane 5 and Ariane 6. The US military will almost certainly be the anchor customer, but a reliable upper stage with long-coast capabilities may one day allow Falcon Heavy to routinely launch commercial satellites directly into circular orbits or send flagship NASA spacecraft into deep space. But first, STP-2. According to Taiwan space agency NSPO, involved in the mission through their Formosat-7 constellation (also known as NOAA’s COSMIC-2), Falcon Heavy could launch STP-2 as early as June 22nd.
SpaceX’s dedicated STP-2 webpage can be viewed here.
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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
