SpaceX has confirmed that the two large propellant tanks now present at its Boca Chica, Texas facilities will likely to be the last major ground tanks needed to enable the first test flights of the upper stage of its next-gen BFR rocket, known as the Big Falcon Spaceship (BFS).
Expected to begin as soon as late 2019, SpaceX executives have recently reiterated plans for a campaign of hop tests for the first full-scale spaceship prototype, in which the ship will follow in the footsteps of its Falcon 9-based Grasshopper and F9R predecessors.
https://twitter.com/krgv_mike/status/1055748966619537408
In a comment provided to a number of local outlets, SpaceX Communications Specialist Sean Pitt stated this about the recent arrival of a second large propellant storage tank at the company’s prospective South Texas test and launch facilities.
“The ongoing construction of our launch pad in South Texas is proceeding well. SpaceX has now received the final major ground system tank needed to support initial test flights of the Big Falcon Spaceship.” – Sean Pitt, SpaceX
While there may have been some slight uncertainty before, this official statement confirms beyond the shadow of a doubt that SpaceX is actively and rapidly preparing its South Texas property for a future of BFR-related tests, spaceship hops, and perhaps even launches.
Same dance, different hops
Unlike Falcon 9’s Grasshopper and F9R reusability development programs, SpaceX’s BFS hop test campaign is likely going to be much more aggressive in order to gather real flight-test data on new technologies ranging from unfamiliar aerodynamic control surfaces (wings & fins vs. grid fins), all-composite propellant tanks (Falcon uses aluminum-lithium), a 9m-diameter vehicle versus Falcon’s 3.7m, a massive tiled heat-shield likely to require new forms of thermal protection, and entirely new regimes of flight (falling like a skydiver rather than Falcon 9’s javelin-style attitude) – to name just a handful.
To fully prove out or at least demonstrate those new technologies, BFS hop testing is likely to be better described as “flight testing”, whereby the spaceship launches vertically but focused primarily on regimes where horizontal velocity is far more important than vertical velocity.
“But by ‘hopper test,’ I mean it’ll go up several miles and then come down. The ship will – the ship is capable of a single stage to orbit if you fully load the tanks. So we’ll do flights of increasing complexity. We really want to test the heat shield material. So I think we’ll fly out, turn around, accelerate back real hard and come in hot to test the heat shield because we want to have a highly reusable heat shield that’s capable of absorbing the heat from interplanetary entry velocities, which is really tricky.” – CEO Elon Musk, October 2017
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Focusing on the important things (for fully-reusable rockets)
SpaceX does has significant familiarity with the general style of testing expected to be used to prove out its next-gen spaceship, a major department from anything the company has yet built or flown. Updated in September 2018 by CEO Elon Musk, the craft’s most recent design iteration is reportedly quite close to being finalized. That near-final design prominently features a trio of new aft fins (two able to actuate as control surfaces), two forward canards, and an updated layout of seven Raptor engines.
Critically, SpaceX has decided to commonize BFR’s main propulsion, choosing to skip the performance benefits of a vacuum-optimized Raptor variant for the simplicity and expediency of exclusively using sea level Raptors on both the booster and spaceship. This decision is ultimately strategic and well-placed: rather than concerning early-stage development with the inclusion of a second major branch of onboard propulsion, the company’s engineers and technicians can place their focus almost entirely on a one-size-fits-all version of BFR with plenty of room for upgrades down the road.
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- BFS seen standing vertically on the pads of its tripod fins. (SpaceX)
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- (SpaceX)
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- A better view. (SpaceX)
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- BFR’s booster and spaceship separate a few minutes after launch. (SpaceX)
With a rocket as large as BFR and a sea level engine already as efficient as Raptor, the performance downgrade wrought by the initial removal of Raptor Vacuum (RVac) is scarcely more than a theoretical diversion. The specific performance numbers remain to be seen but will likely be greater than 100 metric tons (~220,000 lbs) to low Earth orbit (LEO). Past a certain point, however, the actual performance to LEO and beyond is almost irrelevant, at least from a perspective of individual launches. The paradigm SpaceX is clearly already interrogating is one where the cost of individual launches is so low relative to today’s expendable launch pricing ($5,000-20,000/kg to LEO) that it will almost be anachronistic to design or work with a single-launch-limit in mind, a limit that is just shy of a natural law in the spaceflight industries of today.
Because SpaceX has already demonstrated expertise in vertically launching, landing, and generally controlling large rockets, the main challenges faced with BFR are more operational than purely technical. To be clear, the technical challenges are still immense, but successfully solving those challenges by no means guarantees that the aircraft-like operational efficiency needed for BFR to succeed can or will be fully realized.
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- A gif of Raptor throttling over the course of a 90+ second static-fire test in McGregor, Texas. (SpaceX)
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- SpaceX’s subscale Raptor engine has completed more than 1200 seconds of testing in less than two years. (SpaceX)
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- A closeup of BFS’ nose section, featuring impressively varied tile-sizes, joining methods, and extremely precise curves on the interface between canard wings and the hull. (SpaceX)
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In 2016, Musk pegged SpaceX’s cost goals for a BFR-style fully-reusable rocket at less than $1M per launch for booster and spaceship maintenance alone, or $3.3M per launch with amortization (paying for the debt/investment incurred to fund BFR’s development) and propellant estimates included. To realize those ambitious costs, SpaceX will effectively have to beat the expendable but similarly-sized Saturn V’s per-launch costs (~$700M) by a factor of 100 to 200 – more than two orders of magnitude – and SpaceX’s own Falcon 9 and Heavy launch costs (~$55M to $130M) by 20-50X.
To even approach those targets, SpaceX will need to learn how to launch Falcon and BFR near-autonomously with near-total and refurbishment-free reusability, while also developing and demonstrating orbital refueling capabilities that do not currently exist and rapidly maturing large-scale composite tankage and structures. None of those things require Raptor Vacuum.
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!
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.
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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.
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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.
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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.
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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
