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SpaceX’s next Falcon Heavy to usher Air Force into a new era of reusable rockets
After a few late-stage schedule tweaks, SpaceX’s third Falcon Heavy launch – set to deliver 24 spacecraft to a variety of orbits – is ready to usher the US Air Force into a new age of commercial rocket reuse as early as 11:30 pm ET (03:30 UTC), June 24th.
Split among the USAF, Department of Defense (DoD) research labs, NASA, NOAA, and a few US universities, STP-2’s 24 satellites will launch aboard SpaceX’s second Falcon Heavy Block 5 rocket. Both side boosters are flight-proven, having supported Falcon Heavy Block 5’s launch debut on April 11th, just 54 days ago. If all goes as planned, STP-2 will simultaneously give the USAF the data it needs to fully certify Falcon Heavy for all military launches and set the US military up to certify flight-proven commercial rockets for future launch contracts.
Signalling just how important the company feels this mission is, a dedicated STP-2 website created by SpaceX offers an excellent explanation of all aspects of the mission, from the technical to the strategic.
“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. In addition, the U.S. Air Force plans to reuse side boosters from the Arabsat 6A Falcon Heavy launch, recovered after a return to launch site [RTLS] landing, making it the first reused Falcon Heavy ever flown for the U.S. Air Force.
[STP-2] will demonstrate the capabilities of the SpaceX Falcon Heavy launch vehicle and provide critical data supporting certification for future National Security Space Launch (NSSL) missions. In addition, [the Air Force Space & Missile Systems Center (SMC)] will use this mission as a pathfinder for the development of mission assurance policies and procedures related to the reuse of launch vehicle boosters.“ – SpaceX.com/STP-2
Following the ~June 1st arrival of Falcon Heavy center core B1057, all STP-2 launch hardware is now on site at SpaceX’s Pad 39A launch complex and nearby payload processing facilities. Although we will have to wait for official photo confirmation, SpaceX is likely in the late stages of integrating Falcon Heavy’s three boosters and upper stage, while some combination of DoD and SpaceX technicians are presumably in the middle of preparing all 24 STP-2 satellites for launch.
Falcon Heavy Flight 3’s next visible milestone will probably be the integrated rocket’s roll-out to Pad 39A for a routine static fire test, likely to occur 3-7 days prior to June 24th.
Record-breaking reusability
Incredibly, despite the schedule overhead likely added by this mission’s crucial pathfinder nature, the current June 24th launch date would permit side boosters B1052 and B1053 to simultaneously break SpaceX’s current booster turnaround record. Set in mid-2018 by B1045 on SpaceX’s last non-Block 5 launch, the record turnaround (time between launches) of 72 days would be beaten at 68 days for STP-2, barring any additional delays.
Whether STP-2’s side boosters literally beat SpaceX’s 72-day reusability record is immaterial to the actual significance of this milestone. If SpaceX can beat its old record as part of what is arguably its most complex launch ever, it’s safe to say that Block 5 reusability – particularly for gently-used boosters – is already a spectacular success. It also suggests that SpaceX technicians and launch engineers are becoming extremely familiar and comfortable with Falcon Heavy launch operations, to the extent that two boosters used on two Falcon Heavy launches could break SpaceX’s most significant reusability record.
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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
