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Report: SpaceX to launch at least five back-to-back Crew Dragon missions for NASA
Update: Wasting no time at all, NASA has confirmed the Ars Technica report one day later, announcing that rookie astronauts Nicole Mann and Josh Cassada have been reassigned from Boeing Starliner missions to SpaceX’s Crew-5 Crew Dragon launch – currently no earlier than August 2022.
Ars Technica’s Eric Berger reports that NASA has begun the process of moving a number of astronauts assigned to Boeing’s ailing Starliner spacecraft to a SpaceX Crew Dragon mission scheduled no earlier than August 2022.
Per sources close to Berger, NASA has chosen to reassign two rookie astronauts to Crew Dragon as hopes of a crewed Starliner launch – and thus an opportunity for them to gain hands-on spaceflight experience – in the next 6-12 months continue to wither. Barring surprises, the implied change of plans behind those actions means that SpaceX now appears to be scheduled to fly five operational NASA Crew Dragon missions back to back before Boeing’s Starliner flies a single astronaut – let alone its first operational mission with four crew aboard.
In December 2019, nine months after Crew Dragon’s own uncrewed March 2019 debut, Starliner lifted off for the first time on a ULA Atlas V rocket. However, whereas Crew Dragon performed a practically flawless orbital launch, space station rendezvous, docking, departure, reentry, and splashdown on its first try, Starliner’s Orbital Flight Test (OFT) went horribly wrong as soon as it separated from Atlas V.
Due to shoddy prelaunch testing that failed to detect several gaping holes in Starliner’s software, the spacecraft effectively lost control as soon as it was under its own power. Aside from making ground communication and control far harder, Starliner burned through most of its propellant and pushed most of its maneuvering thrusters past their design limits in the first hour or two after launch. Due to the catastrophic software failure and lack of propellant margins, NASA unsurprisingly called off a planned space station rendezvous and docking attempt and Boeing ultimately ordered Starliner to reenter a few days after launch.
Mere hours before reentry, Boeing apparently detected and fixed another major software error at the last second, potentially preventing Starliner’s propulsion and service module from smashing into the capsule’s fragile heat shield and dooming the spacecraft to burn up during reentry. Ultimately, it’s likely that the only reason Boeing didn’t suffer a total loss of vehicle (LOV) during Starliner’s OFT debut spacecraft was dumb luck. Had the initial clock error been worse, Starliner could have failed to reach orbit entirely or burned through all of its propellant, resulting in an uncontrolled reentry. Had there been no clock issue, it’s hard to imagine that Boeing’s software team would have attempted the panicked, impromptu bug hunt that detected and fixed the service module recontact issue.
Now, 22 months after Starliner’s catastrophic OFT, Boeing has been forced to stand down from a second self-funded orbital flight test (OFT-2) due to the last-second discovery of more than a dozen malfunctioning valves on the second spacecraft’s service module. Aside from raising the question of how Boeing and NASA yet again failed to detect a glaring Starliner issue until the day of launch, Starliner’s valve issues appear likely to cause another multi-month delay as Boeing is forced to investigate the problem, find the root cause, and implement a fix on all impacted service modules.
NASA reassigning some of the astronauts scheduled to helm Starliner on its Crewed Flight Test (CFT) and first operational mission to Crew Dragon’s August 2022 Crew-5 launch seemingly implies that the space agency is not confident that Boeing will have completed Starliner OFT-2, passed extensive post-flight reviews, and readied another Starliner for CFT by Q3 2022. Given that NASA took some 14 months to OK Crew Dragon’s Demo-2 crewed flight test after Demo-1’s March 2019 success and a catastrophic April 2019 failure during a ground test of the recovered capsule, it’s not unreasonable to assume that NASA will take about a year after OFT-2 to approve Starliner’s first crewed flight test.
If significant issues arise during OFT-2, which is now unlikely to occur before early 2022, a year-long gap is even more likely. Ultimately, that means that there is now a significant chance that SpaceX’s Crew Dragon spacecraft will complete not just five – but six – back-to-back operational NASA astronaut launches before Starliner is ready for its first operational ferry mission. SpaceX, in other words, is now expected to singlehandedly hold the line and ensure biannual NASA access to and from the International Space Station (ISS) for more than two years despite charging NASA $2 billion less than Boeing (~$5B vs ~$3B) to develop Crew Dragon.
Elon Musk
ARK’s SpaceX IPO Guide makes a compelling case on why $1.75T may not be the ceiling
ARK Invest breaks down six reasons SpaceX’s $1.75 trillion IPO valuation may be justified.
ARK Invest, which holds SpaceX as its largest Venture Fund position at 17% of net assets, has published a detailed investor guide to why a SpaceX IPO may be grounded in a $1.75 trillion target valuation.
The financial case starts with Starlink, SpaceX’s satellite internet constellation, which has surpassed 10 million active subscribers globally as of early 2026, with 2026 revenue projected to exceed $20 billion. ARK’s research puts the total satellite connectivity market opportunity at roughly $160 billion annually at scale, and Starlink is adding customers faster than any telecom network in history. That growth alone would justify a substantial valuation.
Additionally, ARK notes that SpaceX has reduced the cost per kilogram to orbit from roughly $15,600 in 2008 to under $1,000 today through reusable Falcon 9 hardware. A fully operational Starship targeting sub-$100 per kilogram would represent a significant cost decline and open markets that do not currently exist. SpaceX executed a staggering 165 missions in 2025 and now accounts for approximately 85% of all global orbital launches. That infrastructure position took decades to build and would be nearly impossible to replicate at comparable cost.
SpaceX officially acquires xAI, merging rockets with AI expertise
The February 2026 merger with xAI added a layer to the valuation that straightforward financial models struggle to capture. ARK argues that at sub-$100 launch costs, orbital data centers could deliver compute roughly 25% cheaper than ground-based alternatives, without power grid delays, permitting friction, or land constraints. Musk has stated a goal of deploying 100 gigawatts of AI computing capacity per year from orbit.
The $1.75 trillion figure itself is not a conventional earnings multiple. At roughly 95x trailing revenue, it prices in Starlink’s adoption curve, Starship’s cost trajectory, and the orbital compute thesis together. The public S-1 prospectus, due at least 15 days before the June roadshow, will give investors their first complete look at the financials to test those assumptions. ARK’s position is that the track record earns the benefit of the doubt. Fully reusable rockets were considered unrealistic for years. Starlink was considered financially unviable. Both happened on timelines that surprised skeptics.
Elon Musk
Ford CEO Farley says Tesla is not who to look at for EV expertise
Interestingly, Farley has been one of the most hellbent CEOs in terms of a legacy automaker standpoint to push the EV effort. It did not go according to plan, as Ford took a $19.5 billion charge and retreated from its EV push in late 2025.
Ford CEO Jim Farley said in a recent podcast interview that Tesla is not who Americans should look at to beat Chinese carmakers.
The comments have sparked quite a bit of outrage from Tesla fans on X, the social media platform owned by Elon Musk.
Farley said that Chinese automakers are better examples of how to beat competitors. He said (via the Rapid Response Podcast):
“If you’re an American and you want us to beat the Chinese in the car business, you’re all going to want to pay attention, not necessarily to Tesla. Nothing against Tesla—they’ve been doing great—but they really don’t have an updated vehicle. The best in the business for us, cost-wise and competition-wise, supply chain, manufacturing expertise, and the I.P. in the vehicle, was really BYD. In this next cycle of EV customers in the U.S., they want pickups and utilities and all these different body styles. But they want them at $30,000, not $50,000. Like the first inning, they want them affordably.”
Despite Farley’s synopsis, it is worth mentioning that Tesla had the best-selling passenger vehicle in the world last year, and in China in March, as the Model Y continued its global dominance over other vehicles.
Musk responded to Farley’s comments by stating:
“This is before Supervised FSD is approved in China. Limiting factor is production output in Shanghai.”
This is before supervised FSD is approved in China. Limiting factor is production output in Shanghai.
— Elon Musk (@elonmusk) April 19, 2026
Interestingly, Farley has been one of the most hellbent CEOs in terms of a legacy automaker standpoint to push the EV effort. It did not go according to plan, as Ford took a $19.5 billion charge and retreated from its EV push in late 2025.
Ford cancels all-electric F-150 Lightning, announces $19.5 billion in charges
Instead, Ford is “doubling down on its affordable” EVs and said it would pivot from its previous plans.
Reaction from Tesla fans was pretty much how you would expect. Many said they have lost a lot of respect for Farley after his comments; others believe he is the last CEO anyone should be taking advice on EVs from.
Nevertheless, Farley’s plans are bold and brash; many consider Tesla the most ideal company to replicate EV efforts from. It will be interesting to see if Ford can rebound from this big adjustment, and hopefully, Farley’s plans to replicate efforts from BYD work out the way he hopes.
Elon Musk
SpaceX wins its first MARS contract but it comes with a catch
NASA awarded SpaceX a $175 million Mars rover contract while the White House proposes cutting the mission.
NASA just signed a $175.7 million contract with SpaceX to launch a Mars rover that the White House is simultaneously trying to defund. The contract, awarded on April 16, 2026, tasks SpaceX’s Falcon Heavy with launching the European Space Agency’s (ESA) Rosalind Franklin rover from Kennedy Space Center in Florida, no earlier than late 2028. It would mark the first time SpaceX has ever sent a payload to Mars.
Under NASA’s Rosalind Franklin Support and Augmentation project, known as ROSA, the agency is providing braking engines for the rover’s descent stage, radioisotope heater units that use decaying plutonium to keep the rover warm on the Martian surface, additional electronics, and a mass spectrometer instrument, as noted by SpaceNews.
Those nuclear heating units are the reason an American rocket was required at all. U.S. export controls on radioisotope technology mean any payload carrying them must launch on a domestic vehicle, which narrowed the field to SpaceX and United Launch Alliance. Falcon Heavy’s pricing made it the practical choice.
SpaceX is quietly becoming the U.S. Military’s only reliable rocket
Falcon Heavy debuted in February 2018 and has 11 launches to its record. The rocket has not flown since October 2024, when it sent NASA’s Europa Clipper toward Jupiter. The three-core design, built from modified Falcon 9 first stages, gives it the lift capacity needed for deep space planetary missions that a single Falcon 9 cannot reach.
The Rosalind Franklin rover has been sitting in storage in Europe for years. It was originally due to launch in 2022 as a joint mission with Russia, but Russia’s invasion of Ukraine ended that partnership, leaving the rover built but stranded without a launch vehicle or landing hardware. NASA stepped back in through a 2024 agreement with ESA to rescue the mission. The rover is designed to drill up to two meters below the Martian surface in search of evidence of past life, a science objective no previous mission has attempted at that depth.
The contradiction at the center of this story is hard to ignore. The White House’s fiscal year 2027 budget proposal included no funding for ROSA and did not mention the mission at all in the detailed congressional justification document released April 3.
Musk has long argued that reaching Mars is not optional. “We don’t want to be one of those single planet species, we want to be a multi-planet species.” Whether this particular mission survives Washington’s budget fight, the Falcon Heavy contract means SpaceX is now formally on record as the rocket that could get humanity’s next Mars science mission off the ground.
The timing of this contract carries extra weight given that SpaceX filed confidentially with the SEC in early April and is targeting an IPO roadshow in the week of June 8. It would be the largest public offering in history.
ARK’s SpaceX IPO Guide makes a compelling case on why $1.75T may not be the ceiling
Ford CEO Farley says Tesla is not who to look at for EV expertise
