News
SpaceX’s third Falcon Heavy launch on track as custom booster aces static fire
SpaceX has successfully completed a static fire of its newest Falcon Heavy center core, a sign that the most challenging hardware is firmly on track for a late-June launch target.
Currently penciled in for June 22nd, Falcon Heavy’s third launch is of great interest to both SpaceX and its customer, the US Air Force. Most of the two-dozen payloads manifested on the mission are admittedly unaffiliated with the US military. However, the rideshare – known as Space Test Program 2 (STP-2) – was acquired by the USAF for the branch to closely evaluate and certify SpaceX’s Falcon Heavy rocket for critical military launches. The potential upsides of a successful demonstration and evaluation are numerous for both entities and would likely trigger additional positive offshoots.
The Center Core experience
Beyond the general contractual aspects of STP-2, the mission is significant because it will use the third Falcon Heavy center core and second Block 5 variant to be built and launched by SpaceX. Of the technical issues that complicated and delayed SpaceX’s Falcon Heavy development, most can probably be traced back to the rocket’s center core, practically a clean-slate redesign relative to a ‘normal’ Falcon 9 booster.
Most of that work centered around the extreme mechanical loads the center core would have to survive when pulling or being pulled by Falcon Heavy’s two side boosters. Not only would the center core have to survive at least two times as much stress as a Falcon 9 booster, but that stress would be exerted in ways that Falcon 9 boosters simply weren’t meant to experience, let alone survive. After years of work, SpaceX arrived at a design that dumped almost all of that added complexity squarely on the center core and the center core alone. The side boosters would need to use nosecones instead of interstages and have custom attachment points installed on their octawebs and noses, but they would otherwise be unmodified Falcon 9 boosters.
On top of that, SpaceX’s Falcon upper stage and payload fairing would require no major modifications to support Falcon Heavy missions. On the opposite hand, the center core would require extensive rework to safely survive the trials of launch, let alone do so in a fashion compatible with booster recovery and reuse. Per the landing photos above, it’s difficult to tell a Falcon Heavy center core apart from a normal Falcon 9 booster, but the small visible changes are just the tips of several icebergs. Aside from a slight indication that the center core’s aluminum alloy tank walls are significantly thicker (they are), center cores feature a variety of unique mechanisms on their octawebs and interstages. All are involved in the tasks of locking all three boosters together, transferring side booster thrust to the center core, and mechanically separating the side boosters from the center core a few minutes after launch.
Underneath those mechanistic protuberances are the structural optimizations needed for a center core to survive the ordeal of launch. In short, to solve for those new loads, SpaceX wound up building a new rocket. Designing and building a new rocket – especially one as complex as Falcon Heavy’s center core – is immensely challenging, expensive, and time-consuming, particularly for the first few built. Like most complex products, building the first two Falcon Heavy center cores was probably no different. To make things worse, boosters 1 and 2 were based on totally different versions of Falcon 9 (Block 3 vs. Block 5), requiring even more work to further redesign and requalify the modified rocket.
This is where the center core assigned to Falcon Heavy Flight 3 and pictured above comes into play. Built just a few months apart from B1055, the first finished Falcon Heavy Block 5 center core, the newest center core – likely B1057 – is also the first to be built with the same design and manufacturing processes used on its predecessor. In other words, SpaceX can at long last begin serial production of Falcon Heavy center cores, allowing its engineering, production, test, and launch staff to finally get far more accustomed to the unique hardware.
Given Falcon Heavy’s healthy and growing manifest of 5-6 launches, SpaceX will probably need to build several additional Block 5 center cores over the next several years, hopefully resulting in a more refined flow for production, testing, and refurbishment. B1057 will be an excellent candidate for the first reused Falcon Heavy center core thanks to STP-2’s lightweight nature and an extremely gentle landing trajectory. With respect to Flight 3’s schedule, Crew Dragon’s April 20th explosion means that Falcon Heavy will have Pad 39A all to itself for many months to come. Truly the epitome of bittersweet, no doubt, but it does improve the odds that Falcon Heavy’s June 22nd STP-2 launch target will hold.
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Tesla CEO Elon Musk posted a photo of himself standing with the Optimus production team inside Tesla’s Fremont factory, arms crossed amid workers in hard hats and safety vests. The image captures a pivotal industrial shift: the same facility space once dedicated to building Tesla’s flagship Model S sedan and Model X SUV is now home to the company’s humanoid robot manufacturing line.
Walking the Optimus production line in Fremont pic.twitter.com/ABS0tuRibW
— Elon Musk (@elonmusk) July 1, 2026
Tesla’s Fremont Factory, acquired in 2010 from the former NUMMI joint venture between Toyota and GM, has been the company’s original U.S. manufacturing hub since Model S production began in 2012.
The Model X followed soon thereafter. These premium vehicles offered lower annual volumes, recently around 30,000 combined, compared to the high-volume Model 3 and Model Y lines that continue around the site. Over their combined run, the S and X accounted for roughly 610,000 units.
In late January 2026, during Tesla’s Q4 2025 earnings call, Elon Musk announced the end of Model S and Model X production in Q2 2026. The final vehicles rolled off the line in early May. Rather than retooling for another vehicle, Tesla chose to convert the dedicated S/X assembly area into a dedicated Optimus Gen 3 production line.
Model 3 and Y manufacturing remains unaffected. Tesla’s official Fremont Factory page now lists Optimus alongside the 3 and Y as core products.
The conversion was executed with remarkable speed. After production stopped, crews dismantled the existing vehicle line and installed entirely new modular equipment—including lines sourced from Germany and dozens of sub-lines for actuators, batteries, and other components—in roughly four months.
Musk described the timeline as “insanely fast,” noting it would be unprecedented for any other manufacturer. Initial Optimus output is expected to ramp slowly due to the robot’s roughly 10,000 unique parts and the brand-new production processes involved. The Fremont line targets an eventual capacity of 1 million Optimus units per year.
Tesla isn’t joking about building Optimus at an industrial scale: Here we go
Optimus Development Timeline
- August 19, 2021: Optimus (then called Tesla Bot) formally announced at Tesla’s first AI Day. A concept video showed a person in a suit demonstrating the vision for a general-purpose humanoid capable of dangerous, repetitive, or boring tasks using the same AI architecture as Full Self-Driving.
- 2022: Early prototypes displayed. At the second AI Day in September, semi-functional units demonstrated walking across a stage and basic arm movements
- 2023: September videos showed improved capabilities, including sorting colored blocks, precise limb awareness, and holding a Yoda pose.
- 2024-early 2025: Factory integration videos showed Optimus navigating workspaces and handling objects like battery cells.
- January 2026: Gen 3 mass-production activities began at Fremont, with reports of over 1,000 Gen 3 units already operating inside the factory for real-world learning and AI training
- April 2026: Musk confirms Optimus production on converted Fremont line would begin in late July or August 2026. The Gen 3 reveal, originally eyed for Q1, was pushed closer to production start. A second, much larger Optimus factory at Giga Texas is under construction, with volume production targeted for Summer 2027 and long-term capacity of 10 million units annually
- July 1, 2026: Musk’s on-site visit and team photo confirm the Optimus line is operational and the transition is actively progressing
Tesla positions Optimus as potentially its largest project ever, leveraging vertical integration, AI expertise, and car-like manufacturing know-how to scale humanoid robots first for its own factories and later for broader industrial and consumer use.
The Fremont conversion serves as a critical proving ground for this ambitious new chapter in Tesla’s already-rich history.
Investor's Corner
Tesla gets its latest short from Michael Burry: ‘Happy it jumped back to this level’
Tesla short seller Michael Burry, the subject of the film “The Big Short,” where he was portrayed by Steve Carell, has revealed he has opened a new bet against the stock.
In a new update to his Substack newsletter in a post titled “Trading Post June 30, 2026,” Burry revealed a new set of bets against Tesla, Caterpillar, NVIDIA, Applied Materials Inc., and the iShares Semiconductor ETF.
In regard to Tesla, Burry wrote:
“And finally I shorted Tesla at 416.22. Happy it jumped back to this level.”
This means Burry likely opened his new short position after the company’s recent rally on Wall Street, which saw Tesla shares sink in mid-May, only to recover to well over the $400 mark. Currently, shares trade at around $427.
The company saw a big Tuesday as shares climbed considerably, over 10 percent. The size of the Tesla short was not provided, nor did Burry give any information on the position’s structure, the number of shares, dollar value, or whether options were used in the short.
The Tesla and SpaceX merger everyone is talking about is quietly building
Over the years, Burry has been one of the more vocal critics of Tesla, calling its share price “media inflated,” and saying it was “ridiculously overvalued” as recently as December.
The company has largely transitioned away from being known as an automotive company and instead is much more widely regarded as an AI play, mostly due to its Full Self-Driving efforts, Optimus robot development, and data collection related to both.
This has not pulled those skeptics away from being vocal about their distaste for how Tesla is valued, but there’s no denying that the company is a global force in many things, including sustainable energy, automotive, and AI.
Wedbush Securities is initiating stock coverage on SpaceX (NASDAQ: SPCX), marking the first comments on the company since it went public several weeks ago. Wedbush and its analyst handling coverage, Dan Ives, are widely bullish on fellow Musk company Tesla (NASDAQ: TSLA).
Ives wrote his first note initiating coverage of SpaceX shares on Wednesday with a $190 price target and an ‘Outperform’ rating. The firm believes the company is well positioned off of its IPO because of its wide array of projects, including AI compute power and infrastructure, connectivity projects, and launches.
“We view SpaceX as one of the most differentiated assets within the tech market with a strong footprint across its three core markets, with Starlink driving success with connectivity,” Ives wrote, “Starship launches leading to a demand flywheel and increasing deal flow for its Colossus clusters.”
Elon Musk called it Epic: The full story of SpaceX’s Starship Flight 12
Wedbush leans heavily on Starlink, which they say is the “profitability driver given the strength of its recurring revenue base of ~12 million subscribers as of June 5th.” Ives believes Starlink is still in the “early innings” of penetrating the global telecommunications and broadband market, as it only holds less than a 1 percent share. However, this number is sure to increase over time.
It also highlights the importance of Starship, which it says is an “essential layer” of SpaceX’s overall success. SpaceX developing and displaying the ability to reuse rockets is a major cost and reliability advantage “as it reduces the necessary hardware launch costs while generating a feedback loop for future flights to improve their launch flight rate without accelerating capex spend.”
Finally, SpaceX’s recent AI/Compute projects are also very elementary, Ives writes. It is worth mentioning Wedbush said its $190 price target is derived from a valuation forecast that sees the company yielding roughly $2.48 trillion of implied enterprise value.
There are also some factors that Wedbush did not take into account with its initial coverage. The firm wrote in the note:
“We note that there is optional value coming from Starship’s accelerating scale towards sub-$200/kg unit economics, orbital data centers, and enterprise AI monetization as these factors could drive meaningful upside but these face major hurdles, so we do not take that into account with our valuation.”
SpaceX shares are down just over 2 percent today, trading at around $167 at the time of publication.
Tesla Optimus project fires up as Musk sees production line progress
Tesla gets its latest short from Michael Burry: ‘Happy it jumped back to this level’
