SpaceX
SpaceX’s first Falcon 9 Block 5 booster casualty battered but still intact in aerial photos
Shortly after successfully sending a reused Cargo Dragon spacecraft on its way towards the International Space Station (ISS), SpaceX Falcon 9 Block 5 booster B1050 experienced an anomaly with its grid fins during a planned landing, resulting in a shockingly soft (but unintentional) landing just off the Florida coast.
By some minor miracle, the drastically off-nominal loads experienced by the booster during its unintended departure from controlled flight somehow did not rise to the bar of structural failure. Nevertheless, now floating a handful of miles east of Port Canaveral’s mouth, B1050 did not make it through the ordeal unscathed.
https://twitter.com/_TomCross_/status/1070742919986991107
A little more than 24 hours after the booster found itself floating sideways in the Atlantic Ocean, B1050 had floated a solid ten miles south of its original position into waters and airspace that no longer fell under the purview of Cape Canaveral Air Force Station, technically a military outpost. As the captains of tugboat Eagle and SpaceX support vessel GO Quest discussed the logistics of returning the booster to port with the local harbormaster and US Coast Guard, Teslarati photographer Tom Cross chartered a local helicopter to get a slightly better view of the waterlogged rocket and its ad-hoc recovery operations.
A casualty of war (with the air)
Second only to the fact that the booster appears to be in disproportionately good shape considering the circumstances, by far the most noteworthy feature of the newest addition to SpaceX’s marine fleet is the sheer damage suffered by B1050’s interstage, the black carbon fiber composite structure that topsFalcon 9 Block 5 boosters and hosts its grid fins and stage separation mechanism.
Revealed from an aerial perspective, it almost looks as if one side of the composite cylinder was smashed with a giant hammer, tearing off at least 20% of the entire interstage – including one of four titanium grid fins – while leaving another large segment hanging on by only partially-figurative carbon fiber threads.
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- Falcon 9 B1050 is seen here shortly before launch with an intact interstage. (Tom Cross)
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- B1050 viewed from Cocoa Beach. (Tom Cross)
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- Falcon 9 B1050’s interstage, or what’s left of it. (Tom Cross)
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- RIP grid fin. (Tom Cross)
It’s not 100% clear why B1050’s interstage was so readily destroyed but a narrative can certainly be drawn from the current public record. After its grid fins lost hydraulic power and became stuck at an extreme angle, B1050 almost immediately lost control and began rapidly and quite brutally spinning and flailing, tossed around as it hurtled through the air at supersonic speeds. Being a predominately smooth cylinder, Falcon 9’s first stage is inherently prone to rotation in the presence of high-velocity air currents, which is why its grid fins are an absolute necessity for maintaining control authority during in-atmosphere “flights”.
Engines stabilized rocket spin just in time, enabling an intact landing in water! Ships en route to rescue Falcon. pic.twitter.com/O3h8eCgGJ7
— Elon Musk (@elonmusk) December 5, 2018
In a show that will turn the stomach of anyone familiar with a rocket’s typically narrow load tolerances, Falcon 9 B1050 experienced extreme aerodynamic stresses during the worst of its uncontrolled tumble, to the extent that the entire booster and interstage can be seen visibly twisting at least 5 degrees left and right from the perspective of an onboard camera. In the video above, focus on the center of Falcon 9’s grid fins during the first and last 5-10 seconds to properly visualize the extreme forces at play.
It might look fairly innocent to the untrained eye, but keep in mind that Falcon 9’s interstage is no more than a couple of inches thick and is absolutely massive, stretching 3.7m (~12 ft) in diameter. Perhaps even more importantly, the damage to the interstage has almost without a doubt rendered it unusable from the perspective of SpaceX’s established methods of safely moving and manipulating Falcon 9 boosters.
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- Technicians attach an older interstage-grabber to lift B1046 after its first recovery. (Tom Cross)
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- One of SpaceX’s East Coast interstage jigs is pictured here atop B1049. (Tom Cross)
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- A Falcon 9 Block 5 booster bares its interstage and pusher rod, offering a perfect illustration of its scale. (Bloomberg)
All of those methods rely on adapters that attach to the interstage to lift the rocket vertically or support part of its ~30-ton dry mass horizontally. Lacking a sound interstage, it’s now entirely unclear how SpaceX might go about getting B1050 onto land without damaging it further. In simpler terms, this bodes very, very badly for any plans to safely reuse B1050 in the near (or distant) future. After suffering loads that severely weakened and ultimately tore its interstage to pieces, it’s reasonable to assume that the rest of the rocket’s lithium-aluminum propellant tanks experienced stresses that are at least roughly comparable.
If that’s the case, perhaps the only real hope for B1050’s ‘reuse’ will be the recovery of certain subcomponents and miscellaneous parts that may have made it through the ordeal unscathed or with only minor damage. The three remaining titanium grid fins are a guaranteed recovery, while COPVs, cold gas thrusters, avionics boxes, and maybe even some of its nine Merlin 1D engines could be salvageable with some level of refurbishment.
In the meantime, the tentative plan right now is to two B1050 into Port Canaveral sometime after dawn tomorrow, either ending up at drone ship OCISLY’s berth or another less-developed section of the port.
For prompt updates, on-the-ground perspectives, and unique glimpses of SpaceX’s rocket recovery fleet check out our brand new LaunchPad and LandingZone newsletters!
Elon Musk
SpaceX’s newest Starmind will make earth data centers obsolete
Elon Musk confirmed Starmind as SpaceX’s AI satellite constellation name, targeting one million orbital compute nodes.
Elon Musk confirmed that Starmind will be the official name of SpaceX’s planned AI satellite constellation, following a trademark filing by xAI that surfaced earlier this week. Starmind is what’s being described to the FCC as a constellation of up to one million AI satellites
It’s worth noting that SpaceX’s Starlink communication satellite and Starmind are built on the same orbital infrastructure concept but serve entirely different purposes. Starlink is a connectivity network, with satellites receiving and relaying data between points on Earth, and functioning as a high-speed internet backbone in space. The satellites themselves do not process or think, and move information from one place to another, the same function a fiber cable performs underground.
SpaceX just forced Verizon, AT&T and T-Mobile to team up for the first time in history
Starmind, on the other hand, is something completely different, and tather than moving data, its satellites would compute data through artificial intelligence and directly in orbit using onboard processors powered by large solar arrays. Where a Starlink satellite is essentially a very fast pipe, a Starmind satellite is a server. The practical implication is that Starmind would allow AI models to run inference, process queries, and generate outputs from space, then beam results down to users anywhere on Earth within milliseconds, and without the data ever needing to travel to a terrestrial data center.
Starship will be able to carry 30 to 50 AI1 satellites per launch, delivering the equivalent of dozens of server racks per flight, with no land acquisition, no power grid approval, and no cooling infrastructure required on the ground.
SpaceX is pursuing this new technology as terrestrial data centers are running into hard limits such as lack of physical space, community opposition, and power and water consumption at a scale that is increasingly difficult to permit. Space has unlimited solar power, natural vacuum cooling, and no zoning boards. Musk said in a June 8 video presentation that he expects space to become the lowest-cost location to deploy AI compute within two to three years. Two AI1 prototypes are scheduled to launch in early 2027, with volume production targeted for the end of that year at a new facility called Gigasat.
The real world applications Starmind enables extend well beyond powering Grok. A constellation of orbiting AI processors could run inference workloads for any paying customer, anywhere on Earth, with latency measured in milliseconds rather than the seconds associated with ground-based cloud routing across continents. Starmind, if it scales as described, would make SpaceX the landlord of AI compute the same way Starlink made it the landlord of satellite internet.
SpaceX announced today that it commenced its first-ever public bond offering, marking a significant step in the newly public company’s capital markets strategy.
The company announced an offering of senior unsecured notes expected to raise at least $20 billion.
The move comes just a short time after SpaceX completed one of the largest initial public offerings in history. In mid-June, the company priced shares at $135 and raised more than $85 billion, propelling founder Elon Musk’s net worth past the trillion-dollar mark and giving the firm substantial liquidity.
🚨 SpaceX has announced its inaugural offering of senior unsecured notes.
The net proceeds will be used to repay outstanding loans under its bridge loan facility in full.
This inaugural debt offering represents a financing milestone for SpaceX, which previously depended… pic.twitter.com/pcOZuVbTRv
— TESLARATI (@Teslarati) June 22, 2026
According to the company’s SEC filing, the net proceeds from the notes will be used primarily to repay in full the outstanding borrowings under its existing bridge loan facility, cover related fees and expenses, and fund general corporate purposes. The offering is being conducted under Rule 144A, as well as Regulation S, targeting qualified institutional buyers and non-U.S. investors. Notes will be unsecured obligations ranking equally with other unsubordinated debt.
The $20 billion bridge loan was used to refinance approximately $17.5 billion in higher-cost “junk” debt tied to X and xAI. SpaceX had merged with xAI in February 2026 in an all-stock deal. The bridge facility, which matures in September 2027, had represented the bulk of SpaceX’s long-term debt.
SpaceX officially acquires xAI, merging rockets with AI expertise
In connection with the bond launch, SpaceX disclosed it held approximately $100.8 billion in cash and cash equivalents as of June 19. Investor calls began on the announcement date, with pricing and launch expected shortly thereafter. Rating agencies have assigned investment-grade ratings to the proposed bonds, reflecting confidence in SpaceX’s dominant position in commercial launches and the growth trajectory of its Starlink internet offering.
The debt raise also allows SpaceX to optimize its balance sheet by replacing short-term, higher-cost bridge financing with longer-date, lower-cost fixed-income securities. This provides greater financial flexibility to support capital-intensive initiatives, including the development of Starship, the expansion of the Starlink constellation, and the integration of AI capabilities following the xAI combination.
SpaceX shares (NASDAQ: SPCX) fell sharply on the news, dropping over 16 percent overall on the market on Monday. The stock had surged initially after debuting but pulled back amid profit-taking and broader market dynamics.
Overall, the bond offering underscores SpaceX’s transition to a mature public company with access to diverse funding sources. It positions the firm to pursue its long-term vision of multiplanetary expansion and AI infrastructure, while maintaining a disciplined approach to its capital structure in a high-growth but capital-heavy industry.
SpaceX confirmed today that it has officially signed its third massive compute deal, providing compute at its Colossus data center in Southaven, Mississippi.
Reflection AI will gain immediate access to NVIDIA GB300 chips at SpaceX’s Colossus 2 data center. In return, Reflection will pay SpaceX $150 million per month starting on July 1, with total payments reaching approximately $6.3 billion if the contract runs through its duration, which is until 2029. Either party can terminate the agreement with 90 days’ notice after the initial three-month period.
CNBC first reported the deal.
🚨 SpaceXAI has agreed to a new compute deal with Reflection AI.
Reflection gets access to NIVIDIA GB300s, and will pay $150M per month to SpaceXAI for the compute. pic.twitter.com/bNPare8U5u
— TESLARATI (@Teslarati) June 22, 2026
This latest partnership highlights SpaceX’s strategy of commercializing its massive Colossus supercomputing infrastructure, originally developed to power Elon Musk’s Grok AI models. The company has rapidly expanded its customer base in the AI sector following its February 2026 merger with xAI, a transaction that valued the combined entity at $1.25 trillion.
SpaceX has previously signed significant compute deals with other major players.
It granted Anthropic exclusive access to the full capacity of its Colossus 1 data center, which exceeds 300 megawatts and includes over 220,000 NVIDIA GPUs. Details from SpaceX’s IPO filings indicate Anthropic will pay $1.25 billion per month through May 2029, potentially generating around $45 billion over the term of the deal.
Additionally, Google agreed to pay SpaceX $920 million per month for compute capacity from October 2026 through June 2029. This 32-month period will provide Google access to roughly 110,000 NVIDIA GPUs, along with supporting processors and memory. Capacity ramps up through September at a reduced fee, with termination options after the first year.
SpaceXA also established arrangements for computing power with Cursor, an AI coding startup. SpaceX acquired them in a $60 billion all-stock deal.
These arrangements position SpaceX’s collective position as an AI infrastructure powerhouse with high-margin revenue potential. The Google deal alone could generate nearly $29.5 billion over its term, while the Reflection contract adds another $6.3 billion.
Combined with the Anthropic arrangement, SpaceX stands to realize tens of billions in revenue from compute leasing in the coming years, which diversifies beyond SpaceX’s traditional rocket launches and Starlink operation.
The deals underscore growing demand for advanced AI training and inference capacity amid chip shortages and surging model development needs. Reflection, valued at $25 billion and focused on “American open intelligence” with government and national security ties, cited recent restrictions on closed models as validation for open-source approaches.
For SpaceX, the partnerships transform capital-intensive data centers into flexible revenue sources while supporting its broader AI ambitions after the company has gone public.
SpaceX’s newest Starmind will make earth data centers obsolete
Tesla pushes back against unfair reporting of accidents
