News
SpaceX sets date for first Florida launch of its kind in more than half a century
Argentinian space agency CONAE says that both its SAOCOM 1B satellite and SpaceX are on track for a type of launch that the United States’ East Coast hasn’t supported in more than half a century.
CONAE has revealed that SpaceX aims to launch the ~2800 kg (6200 lb) radar Earth observation satellite into orbit on a Falcon 9 rocket as early as March 30th, 2020 – late next month. With such a light payload, the Falcon 9 booster – presumably reused – will be able to perform a Return to Launch Site (RTLS) recovery, touching down at one of SpaceX’s two Landing Zone (LZ) pads located at Cape Canaveral Air Force Station (CCAFS). While Landing Zone rocket recoveries have become increasingly rare for SpaceX, that’s not actually why the SAOCOM 1B mission is so unique.
Instead, it’s exceptional because it will be the United States’ first East Coast polar launch in nearly six decades. The mission’s “polar” launch profile refers to the fact that the Argentinian radar satellite will ultimately orbit Earth’s poles, effectively perpendicular to more common equatorial orbits. If successful and repeatable, the mission could ultimately spark a new era for CCAFS and Kennedy Space Center (KSC) and raises big questions about the future of California’s Vandenberg Air Force Base (VAFB) — or at least SpaceX’s presence there.
Previously discussed on Teslarati late last year, the story behind why Cape Canaveral stopped polar launches is quite a weird one. A 2008 article in the Naval History Magazine sums up the events nicely.
“In what somewhat inaccurately became known as “the herd shot around the world,” some..falling rocket debris apparently splattered on a Cuban farm and killed a cow. “This is a Yankee provocation,” accused Revolucion, an official Cuban publication, insisting that the rocket was deliberately exploded over the country. Government radio stations cited the incident as further proof that the United States was trying to destroy the regime of Cuban President Fidel Castro. One cow was even paraded in front of the U.S. Embassy in Havana wearing a placard reading “Eisenhower, you murdered one of my sisters.”
Castro filed a complaint at the United Nations, and Washington sheepishly conceded the possibility that “fragments from the rocket booster” could have landed in Cuba. CIA Director George Tenet later quipped somewhat tastelessly that it was “the first, and last, time that a satellite had been used in the production of ground beef.” Further launches overflying Cuba were postponed, and improvements were made to the Cape Canaveral range-safety system. In any case, it was a dejected NRL group that returned to Washington.”
Naval History Magazine – April 2008
That November 1960 launch thus shut down East Coast polar launches to avoid overflying Cuba and raising the country’s ire near the height of Cold War tensions. It’s believed that the Cape actually launched two more semi-polar missions in the mid-1960s, some five years later, but the fact remains that SpaceX’s prospective March 30th, 2020 launch will mark the United States’ first East Coast launch in more than half a century.
Back in October 2019, while SpaceX had effectively confirmed that it would try to move SAOCOM 1B’s launch from California to Cape Canaveral, CCAFS hadn’t fully approved the change or literally reopened the East Coast’s polar launch corridor. Now, given that CONAE has officially announced a specific launch date (March 30th), it seems safe to say that CCAFS has fully given SpaceX the go-ahead for the launch.
While Falcon 9’s upper stage will still technically overfly Cuba over the course of the launch, the combination of a rare ‘dogleg’ maneuver shortly after launch and the fact that said upper stage will be far above the Earth’s surface have effectively mitigated any technical or legal showstoppers. Around eight minutes after liftoff, the mission’s Falcon 9 booster will also attempt to return to Florida and land at SpaceX’s LZ-1 or 2 landing pad. SpaceX’s October 2018 Vandenberg Air Force Base (VAFB) SAOCOM 1A launch coincidentally marked the first-ever use of Landing Zone-4 (LZ-4), a dedicated landing pad built for SpaceX’s West Coast launch site.
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If successful, a polar Falcon 9 launch from Cape Canaveral also raises the question: if SpaceX can potentially perform all conceivable launch profiles from its two Florida pads, why go the effort and expense of maintaining a third pad – entirely dedicated to polar launches – in California? Aside from one lone launch six months later, SpaceX’s last California launch occurred in January 2019 and the next one is expected no earlier than November 2020 – and could very well never happen at all. The only plausible reasons to continue launching from SpaceX’s Vandenberg pad would be if Florida’s polar capabilities were somehow limited or if conservative, bureaucratic customers like NASA and the US military were dead-set on their polar missions only launching from semi-arbitrarily selected launch pads.
Without any modifications whatsoever, Falcon Heavy could also immediately begin performing polar launches from Cape Canaveral, whereas SpaceX would likely need tens of millions of dollars and 6-12 months to modify its California pad to support the massive rocket. Perhaps keeping that pad quietly mothballed and flying launch staff in from Florida and Texas for occasional missions is a much smaller ordeal than it seems. Still, the allure (and efficiency) of a one-stop-launch-shop at Cape Canaveral is almost certainly hard to ignore for a company like SpaceX.
For the SAOCOM 1B launch, the next milestone will be the Argentinian satellite’s arrival at SpaceX’s Florida payload processing facilities, likely to occur within the next week. Already, March is lining up to be an exceptionally busy month for SpaceX, with two separate Falcon 9 launches currently scheduled on March 2nd and March 4th and another Starlink mission likely later in the month. With a little luck, SpaceX might be able to end Q1 2020 with its first four-launch month ever.
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SpaceX stock did the opposite of what most of Wall Street expected this week, when the day designed to be its most dangerous turned into a rally, and the rally kept going.
Thursday marked the first major lockup expiration since SpaceX’s June IPO, making roughly 911.5 million insider held shares eligible to trade for the first time, more than doubling the company’s public float. Analysts and short sellers had spent weeks bracing for a flood of selling, especially after the stock fell 13 percent following its first earnings report as a public company on Tuesday. Instead, shares rose 6.1 percent Thursday to close at $114.92, and by Friday they were trading near $129, up more than another 12 percent on the day.
SpaceX shorts get warned by Musk ally, echoing Tesla’s early struggles
The setup made the outcome notable. Short interest had climbed to roughly 34 percent of the float heading into earnings, among the highest of any large cap stock, with about 95 percent of available shares to borrow already on loan. CEO Elon Musk warned short sellers twice in the weeks before the lockup, writing on X that “the survival probability of firms who maintain a significant short position in SpaceX over time is very low,” then following up on the morning of earnings with “I try to warn them, but they just double down.”
When the newly unlocked shares hit the market and the selloff never showed up, some of that short position appears to have started unwinding. TipRanks reported that options activity shifted toward bullish strategies like put selling and risk reversals following the rally, with roughly $600 million in options premium trading Thursday alone. Retail buyers also stepped in during the earnings dip, according to Vanda Research.
The fundamentals behind the stock have not changed much in a week. SpaceX’s revenue nearly doubled year over year to $7.8 billion, with Starlink subscribers doubling to 12 million and the company’s AI segment growing 247 percent. What spooked investors on Tuesday was the spending side. Capital expenditures jumped to more than $18 billion for the quarter, up from $2.8 billion a year earlier, with AI investment alone rising from $749 million to $15.8 billion. Wall Street remains split on whether that spending is building infrastructure SpaceX needs or outrunning what the business can currently support, a debate Teslarati has tracked since shares first came under pressure.
None of that resolves the bigger question hanging over the stock. Thursday’s release was only the first of nine staggered lockup tranches, with roughly $800 billion worth of additional shares scheduled to become eligible through October, and Musk’s own stake stays locked until next June. If this week is any indication, the market is treating that supply as something it can absorb rather than something to fear, at least for now.
News
The Boring Company’s newest Vegas Station has a permit quietly waiting behind it
Sahara Las Vegas opened a new Vegas Loop station, joining an exclusive two resort transit club.
Sahara Las Vegas opened a new Vegas Loop station Thursday, giving The Boring Company’s underground transit system its northernmost stop yet on the Strip. The station sits at Sahara’s Paradise Road entrance, on the southeast corner of Las Vegas Boulevard and Sahara Avenue, and connects riders to the Las Vegas Convention Center, other Strip resorts on the network and, eventually, Harry Reid International Airport.
The addition makes Sahara the second resort, after Fontainebleau opened its own station in January, to get a stop built at street level rather than tucked into the property itself. Sahara now joins Westgate as the only two Strip resorts offering both a Vegas Loop station and a stop on the Las Vegas Monorail, giving guests two separate ways to get around without leaving the property.
The Boring Company just doubled its tunneling power in Nashville
The bigger news buried in Thursday’s announcement is what comes next. Boring Company has already secured its first permit to tunnel north of Sahara Avenue, extending the network beyond where it currently ends, even though permits to push the Loop toward downtown Las Vegas still haven’t been granted. Crews are also working on a two mile dual tunnel line running from Westgate to a planned station at 4744 Paradise Road, just north of Tropicana Avenue, that Las Vegas Convention and Visitors Authority CEO Steve Hill has said the company hopes to open in time for November’s Las Vegas Grand Prix.
Ridership has grown alongside the buildout. The Loop moved roughly 82,000 passengers during CONEXPO in early March, a total the company highlighted on its own X account at the time, and the system has now carried more than 4 million passengers through 11 open stations since it began running in 2021. The airport connector tunnels, meant to give the Loop a direct link to Harry Reid, have slipped past their original first quarter target and remain under construction, with Boring Company director Mike Baier saying that a full opening is still a few months out.
For Sahara, the calculation is straightforward. Convention traffic drives a large share of Loop ridership, and a station at the property’s front door gives conventiongoers one more reason to book rooms on the Strip’s north end instead of closer to the convention center itself.
Elon Musk
Tesla’s mysterious Robovan makes a sneak peek with Optimus in Terafab video
Elon Musk shared a new Terafab video showing Optimus, Robovans, and a stunningly futuristic campus.
Elon Musk posted a new video of Terafab on X Thursday morning, and the most eye-catching details in it were not the building itself, but two products still awaiting production: Optimus and the Robovan.
The concept render, credited to SpaceX, shows Optimus robots working the grounds of the roughly 2.5-mile-long facility planned for the Gibbons Creek site in Grimes County, while a Robovan glides along an elevated roadway cutting through the building itself, sharing the frame with a Tesla Semi and a Cybercab.
Robovan is the boxy, driverless people and cargo mover Musk unveiled alongside Cybercab at Tesla’s “We, Robot” event in October 2024. He pitched it as a way to move up to 20 passengers at once, or handle freight instead, at a target cost he claimed could fall under a dollar a mile, with no steering wheel or pedals, the same layout as Cybercab. Nearly two years later, Robovan still has no confirmed production timeline and has not shown up in any factory footage, which makes Thursday’s render one of the only recent looks at the vehicle in any form.
Terafab Texas will be the largest and most valuable building on Earth by far.
And it will be stunningly beautiful. pic.twitter.com/4NweOqTL7y
— Elon Musk (@elonmusk) August 6, 2026
Optimus has moved further along. Tesla began converting Fremont’s old Model S and Model X assembly line into a Gen 3 Optimus production line earlier this year, and Musk visited the site on July 1 to mark the changeover. A second, larger Optimus plant is under construction at Giga Texas, targeting volume production in summer 2027 and eventual capacity of 10 million units a year. Tesla AI lead Ashok Elluswamy said this month the robot has “big shoes to fill” in replacing the S and X line, while Musk has repeatedly called Optimus the company’s biggest product of any kind, with a long-term price he has pegged between $20,000 and $30,000.
Check out the “Robovan” from @Tesla
📸: @Teslarati pic.twitter.com/D4es2i9NUe
— TESLARATI (@Teslarati) October 11, 2024
“Terafab Texas will be the largest and most valuable building on Earth by far,” Musk wrote alongside the clip. “And it will be stunningly beautiful.”
One quote post summed up the reaction: “Futuristic scene with RoboVan + Cybercab + Tesla Semi + Optimus.”
Beyond the vehicles, the architecture wrapped around them stands out too. The building’s facade is canted at sharp angles, with illuminated horizontal bands running through what appears to be a multi level interior visible from outside. Below the elevated roadway, pedestrians walk along a plaza next to a reflecting pool, and the skyline behind the campus is dotted with angular spires that read more like sculpture than infrastructure, a departure from the strictly utilitarian look of Gigafactory Texas or Starbase.
The timing tracks with what Terafab representative Riley Trennell told Grimes County residents on Wednesday, when he said renderings of the facility would be released “within days.” Musk’s post followed less than 24 hours later, and Texas Governor Greg Abbott’s office sent out its own release Thursday confirming the project. As Teslarati reported this morning, Terafab’s tax abatement agreements with Grimes County are now signed and active, and SpaceX has sent the county its first $10 million payment under that deal. The dollar figure tied to this phase of construction, per Reuters, is $16.8 billion, one of the first hard capital expenditure numbers attached to Terafab since Musk unveiled the joint Tesla-SpaceX-xAI venture in March.Reaction on X ranged from enthusiastic to skeptical. “God Bless Texas! Everything is bigger and better in Texas!” one reply read. Another was more measured: “Terafab in a decade…..”
Whether the finished building matches the render is a separate question from whether Musk wanted people talking about the render itself. Less than a day after posting, the video had already crossed 5.5 million views.
Elon Musk and SpaceX shrugs off the trading day Wall Street feared most
The Boring Company’s newest Vegas Station has a permit quietly waiting behind it
