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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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Tesla stock (NASDAQ: TSLA) endured one of its sharpest single-day declines in years on July 23, tumbling approximately 14.5 percent and closing near $320 after opening the session around $374. The drop erased more than $140 billion in market value amid heavy trading volume and left the shares at multi-week lows.
The sell-off followed the company’s second-quarter 2026 results, released the previous evening. Tesla reported record revenue of $28.2 billion, up 26 percent year over year, driven by a Q2-record 480,126 vehicle deliveries. Energy storage deployments also rose strongly.
Tesla (TSLA) Q2 2026 earnings results: miss on EPS, beat on revenue
Yet profitability disappointed sharply. Operating income fell 57 percent to $398 million, compressing the operating margin to just 1.4 percent. Non-GAAP earnings per share came in at $0.33, well below the roughly $0.53 analysts had expected. Free cash flow turned negative by $1.1 billion as capital expenditures surged 142 percent to $5.8 billion, largely tied to accelerated spending on artificial intelligence, robotics, and autonomous systems.
The losses on capex were expected, as Tesla said it would be spending heavily in 2026.
Investors also reacted to lingering uncertainty surrounding key product timelines. During the Earnings Call, management reiterated ambitions for Robotaxi deployment and the Optimus humanoid robot, but offered limited new concrete milestones, renewing questions about execution pace that have long accompanied Tesla’s ambitious roadmap.
The magnitude of the decline places it among Tesla’s more severe one-day percentage losses since its 2010 initial public offering. Historically, the two largest single-day drops (split-adjusted) remain September 8, 2020, when shares fell 21.1 percent amid broader market volatility and valuation concerns, and January 13, 2012, with a 19.3 percent plunge during the company’s early growth struggles.
Other notable declines include an 18.6 percent drop on March 16, 2020, at the onset of pandemic-related market turmoil. Thursday’s move ranks roughly ninth on the all-time list but stands out as the steepest in more than a year.
Despite the short-term pain, Tesla’s long-term trajectory has repeatedly recovered from such volatility. The latest results underscore both the strength of its core automotive and energy businesses and the near-term costs of heavy investment in next-generation technologies.
Elon Musk clapped back at France’s decision to withhold the approval for Tesla’s Full Self-Driving (FSD) Supervised system, projecting a clear and blunt message to French Transport Minister Phillippe Tabarot, after he publicly rejected the technology in its current form.
Tabarot outlines several concerns with Tesla Full Self-Driving in a detailed video statement, where he said, “The safety trade-offs are not yet sufficient to authorize it as it currently stands,” he said. He emphasized that FSD is not a true self-driving system and that the driver remains fully responsible.
Key issues Tabarot also brought up included allowing speeding when surrounding traffic exceeds limits and what he believes are insufficient guarantees of driver attention during complex urban maneuvers such as lane changes, intersections, and roundabouts.
Delaying the approval of FSD in France will cost lives
— Elon Musk (@elonmusk) July 22, 2026
While acknowledging technological progress and France’s support for autonomous innovation, Tabarot stressed that deployment must prioritize road safety. He noted ongoing technical discussions with Tesla, the Netherlands, and other European partners, with further ecosystem meetings planned for the fall.
Musk’s rebuke highlights the human cost of regulatory caution. Tesla’s latest safety reports provide compelling data supporting accelerated adoption. In the most recent 12-month period, vehicles using FSD (Supervised) recorded one major collision per approximately 5.1 million miles driven, dramatically better than the U.S. national average of one crash per 698,000 miles.
Even Tesla vehicles driven manually with active safety features outperform the average by a wide margin. These figures come from billions of real-world miles of telemetry, showing FSD vehicles involved in far fewer incidents than both manual Teslas and the broader U.S. fleet.
Critics argue Tesla’s comparisons require careful scrutiny regarding reporting thresholds and fleet demographics, yet the data consistently positions FSD as a potential lifesaver. With road fatalities remaining a leading cause of death worldwide, Musk contends that proven safer technology should not face prolonged bureaucratic hurdles.
France’s measured approach reflects the broader European regulatory caution, which many, especially Musk, have been critical of in the past. However, as autonomous systems from Tesla and competitors like Waymo demonstrate superior safety in independent studies, pressure is mounting for harmonized approvals.
Musk’s warning carries the belief that every month of delay may equate to avoidable tragedies on European roads.
In a striking revelation that underscores the lucrative crossover between Big Tech and space exploration, Alphabet Inc., Google’s parent company, disclosed a massive $94.1 billion equity stake in SpaceX following the rocket company’s blockbuster initial public offering earlier this year.
The disclosure came in Alphabet’s quarterly filing, marking the first time the long-held private investment has been publicly valued at market prices. Google was an early backer, investing alongside Fidelity in 2015 with roughly $500-900 million at a time when SpaceX was valued around $12 billion.
That bet has delivered extraordinary returns, roughly a hundredfold, transforming a strategic play on satellite internet and launch capabilities into one of Alphabet’s largest assets.
Google, $GOOGL, has said they hold $94 billion in SpaceX, $SPCX, shares after IPO.
— unusual_whales (@unusual_whales) July 23, 2026
Of the total holding, approximately $80 billion remains subject to short-term post-IPO lockup restrictions, preventing near-term sales. An additional $14.1 billion faces longer-term restrictions, extending into the third quarter of 2027. This structure limits immediate liquidity but protects against market volatility as SpaceX transitions into public trading.
The SpaceX position contributed significantly to gains in Alphabet’s broader investment portfolio, which also includes a major stake in AI leader Anthropic. Combined, these holdings helped drive nearly $100 billion in investment gains during the second quarter, providing a substantial boost to net income amid ongoing AI spending pressures.
Analysts view the disclosure as validation of Alphabet’s venture strategy beyond its core search and cloud businesses. The investment aligns with deeper ties, including reported multi-billion-dollar deals for AI computing capacity on SpaceX infrastructure. As SpaceX advances Starship flights, Starlink expansion, and ambitious Mars goals under Elon Musk, Google’s stake positions it to benefit from the commercialization of space.
For Alphabet, the windfall highlights how patient, forward-looking bets in transformative sectors can yield outsized rewards. While lockups temper short-term impact, the holding cements SpaceX as a cornerstone of Alphabet’s diversified portfolio in an era where aerospace, AI, and connectivity increasingly intersect. Investors will watch closely as restrictions lift and SpaceX’s public performance unfolds.
Tesla stock tumbles after earnings, one of its sharpest single-day declines
Elon Musk is not happy about this Tesla Full Self-Driving approval delay
