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SpaceX’s orbital Starship gains a nose as East Coast prototype makes progress
On May 20th, SpaceX technicians successfully stacked a nosecone on top of the company’s Boca Chica orbital Starship prototype. Simultaneously, a separate team of technicians and engineers have been hard at work building a second similar-but-different Starship prototype near Cape Canaveral, Florida.
Officially confirmed last week by Elon Musk, the SpaceX CEO revealed that the company was not only building two orbital Starship prototypes simultaneously – not news in itself – but that those prototypes were being built as a sort of internal competition between different teams and ideas. The competition is not cutthroat – knowledge is shared between Texas and Florida – but the strategy is fairly similar. In lieu of actual commercial competitors, SpaceX is attempting to compete with itself to more rapidly and effectively develop a brand new launch vehicle – the stainless steel Starship/Super Heavy.
A Starship rises in the East
In just the last week, both SpaceX groups have made major progress. On the East Coast, the general public saw the first photo of SpaceX’s Florida Starship build precisely seven days ago. It appears that SpaceX has more or less taken over a Cocoa, Florida facility known to be the prior home of Coastal Steel, a repeat NASA contractor known for steelwork.
It’s unclear if SpaceX has fully acquired Coastal Steel or is simply partnering with the small company in the early stages of its Florida Starship buildup. Regardless, even from perspectives quite a bit more distant than those available in Texas, it’s clear that the metal workmanship is at least on par with Boca Chica, if not giving them a run for their money.
Admittedly, the playing field is not exactly level. SpaceX’s South Texas team has been working just a few thousand feet away from the unobstructed Gulf of Mexico in conditions that would make for an excellent traditional-aerospace horror show. Aside from a lone tent, all welding, assembly, integration, and testing has been done while fully exposed to the elements. SpaceX’s Florida team appears to have the luxury of an established warehouse – previously used for steelwork – to use as a covered and partially insulated work and staging area. The Florida team effectively had everything they needed (give or take) on hand from the moment work began, while Texas had to quite literally build all of its facilities from nothing.
Be it the facility luxuries or Cape Canaveral’s far larger pool of local aerospace talent, it’s clear that SpaceX’s Florida team will be a competitive force to be reckoned with despite Texas’ apparent head start. In the seven days since the first photos of the Florida Starship were published, SpaceX technicians have almost doubled the height of the largest welded section, raising it from ~5.5m to ~9m (18-30 ft).
Meanwhile, those working inside the staging warehouse continue to crank out 2x9m subsections, already making way for what appears to be the first tapered nose section of the Florida Starship. At this rate, Florida could very well catch up to SpaceX’s Texas Starship just a month or two from now. It’s worth noting that the Florida team does not appear to be involved in any Starhopper activities. SpaceX Boca Chica, on the other hand, has spent a major portion of the last several months building out Starhopper and preparing the odd prototype for untethered hop tests.
The (slightly) Old(er) Guard
Despite Starship Florida’s rapid progress, Starship Texas has not exactly been standing around. In the last week or so, SpaceX technicians and engineers have been simultaneously working on major new integration, assembly, and test campaigns with both Starhopper and the first orbital Starship prototype. A dedicated Starhopper article will come later this week as SpaceX’s South Texas team nears Raptor reinstallation and an untethered hop test campaign, scheduled to begin as early as the end of May.
On the orbital Starship side of things, Boca Chica took a major symbolic step towards aeroshell completion by capping off the upper half of the prototype with a stainless steel nose section. Altogether, the Starship assembly now stands about 25m (80 ft) tall from tip to tail, roughly 60% as tall as a Falcon 9 booster (first stage). With the installation of the craft’s nose, SpaceX has also implicitly confirmed that most – if not all – of the Starship prototype’s tankage still needs to be built, unless a great deal of hardware is hiding inside Boca Chica’s on-site tent.
What could either be the orbital Starship’s seven-Raptor engine section or the start of its liquid oxygen or methane tank is also being built a few hundred feet distant. That mystery segment was recently lifted onto a second concrete jig for easier access, while SpaceX has also been hard at work building a dedicated integration facility similar to the warehouse being used in Florida.
Altogether, SpaceX’s South Texas team appears to be 30-40% away from completing a Starship-sized steel aeroshell. A huge amount of work remains to be done on the inside of the theoretically orbit-capable vehicle, including propellant tanks, a thrust structure capable of supporting seven Raptor engines, landing legs/fins, and a jungle of plumbing and avionics installation. Still, the amount of progress already visible is undeniably impressive, made even more intriguing by the existence of a separate Starship build effort to the east.
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SpaceX confirmed the date of Starship’s 15th launch window with some massive ambitions for the mission, as it will attempt to catch Ship for the first time.
CEO Elon Musk confirmed during SpaceX’s Earnings Call last night on October 20 that it would launch Starship for its 15th test flight in November, and there are some incredible things the company wants to try, making it perhaps the most groundbreaking launch in the program’s history.
SpaceX delivers blockbuster Q3 results as Super Intelligence segment booms
The most major development of the call was SpaceX’s intention to catch Ship alongside catching the Super Heavy Booster, something that has happened in the past. SpaceX showed an animation of the Ship catch, which will be done on the launch tower’s chopsticks:
SpaceX has released a new Starship tower catch animation for the upcoming Flight 15! https://t.co/kStn01Da8u
— Truthful🛰️ (@Truthful_ast) October 20, 2026
This monumental goal is to catch both the Ship and Booster in a dual-catch scenario, an incredible feat since SpaceX has never been able to reuse a Ship after launch. Musk said it would be “the first time that an orbital launch vehicle has been fully recovered,” and said it would be a “profound technology milestone.”
Musk said the odds of success on this first Ship catch attempt are “more likely than not,” but SpaceX is ultimately prepared for more tries moving forward. The SpaceX frontman said that, starting next year, Starship would have a “steady stream” of flights through the end of the year.
The cadence will accelerate in 2027, with Musk stating the company plans to target weekly flights in the first half of 2027 and twice-weekly by year-end.
The Flight 15 attempt follows that of Flight 14, which took off in late September and was Starship’s first orbital mission. It deployed 26 Starlink V3 satellites, accomplished a controlled ocean splashdown of both stages, and shed more light on potential challenges for the program moving forward.
As of now, the Starship program is firing on all cylinders.
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Wall Street analysts rapidly raised price targets on SpaceX (NASDAQ: SPCX) after the company reported a bullish third quarter for 2026 following the market close on October 20. Shares were sent sharply higher in after-hours and premarket trading.
SpaceX posted revenue of $14.6 billion, a 161 percent year-over-year increase that comfortably topped consensus estimates, which fell near $12.7 billion. The company also posted a net profit of $4.4 billion from a prior-year loss, with adjusted EBITDA reaching $8.8 billion.
More price target movement:
🚀 Cantor Fitzgerald lifted its target to $345 from $246 (Overweight).
🚀 Barclays raised its target to $300 from $254 (Overweight).
🚀 Citi increased its target to $240 from $200 (Buy),
🚀 UBS moved to $230 from $210 (Buy)
🚀TD Cowen raised its target to $224 from $200 (Buy).
🚀Morgan Stanley held an Overweight rating with a $300 target.
🚀Other firms also adjusted higher, including Wells Fargo (to $274 from $214) and Clear Street (to $248 from $217). Analysts broadly cited the strong quarterly print, accelerating AI compute expansion, Starlink progress, and Starship milestones as drivers of higher long-term growth and earnings power.— TESLARATI (@Teslarati) October 21, 2026
Its Super Intelligence (AI) division generated roughly $7.6 billion and became the largest revenue contributor, growing nearly 830 percent year-over-year, while the Connectivity segment delivered $5.2 billion on strong subscriber additions that lifted the consumer base to 13.6 million for Starlink.
The Earnings Call proved especially catalytic, as CEO Elon Musk and CFO Bret Johnsen outlined Q1 2027 revenue guidance of $33 billion to $37 billion, which was far above the roughly $22 billion analysts had modeled, alongside fourth-quarter capital-expenditure plans of $35 billion to $40 billion focused on AI compute infrastructure at sites including Memphis and Southaven.
SpaceX delivers blockbuster Q3 results as Super Intelligence segment booms
Management targets 2.5 to 3 gigawatts of nameplate compute capacity by year-end and discussed pathways to 13 gigawatts or more by the end of 2027. Musk described relentless demand from hyperscalers and other customers, with compute pricing supporting payback periods of less than a year and potentially as short as six months.
Additional highlights included Starship’s recent orbital success and V3 satellite deployment, Starlink pricing and enterprise momentum, rapid Grok Bot adoption, spectrum expansion plans, and the formation of special committees to explore a possible combination with Tesla.
These elements prompted a wave of price-target increases:
- JPMorgan more than doubled its target to $500 from $240 while maintaining an Overweight rating.
- Cantor Fitzgerald lifted its target to $345 from $246 (Overweight).
- Barclays raised its target to $300 from $254 (Overweight).
- Citi increased its target to $240 from $200 (Buy),
- UBS moved to $230 from $210 (Buy), and
- TD Cowen raised its target to $224 from $200 (Buy).
- Morgan Stanley held an Overweight rating with a $300 target.
- Other firms also adjusted higher, including Wells Fargo (to $274 from $214) and Clear Street (to $248 from $217). Analysts broadly cited the strong quarterly print, accelerating AI compute expansion, Starlink progress, and Starship milestones as drivers of higher long-term growth and earnings power.
Shares, which closed at $147.79 on October 20, jumped roughly 8 percent in early premarket trading on October 21 as investors digested the results and the newly elevated Street targets.
The average analyst price target has moved higher, which reflects greater conviction in SpaceX’s trajectory across launch, connectivity, and the Super Intelligence business, even as elevated spending remains a point of focus.
Elon Musk
SpaceX showcases exactly how it plans to catch Starship next month
SpaceX played a new Starship Flight 15 simulation showing the ship caught by tower chopsticks.
SpaceX gave its clearest look yet at how it plans to catch a Starship upper stage, playing a roughly 80 second animation of the maneuver during its third quarter earnings webcast on Tuesday. The clip ran under an “Up Next: Ship Catch” banner moments after Elon Musk confirmed that Flight 15, expected next month, will try to catch both the Super Heavy booster and the ship with the launch tower.
The animation opens at ground level, looking up through the launch mount at a tower with its chopstick arms spread wide. It then cuts to the ship gliding back through the atmosphere in its horizontal belly flop position, with its forward and aft flaps steering the descent. A wide shot from the Starbase shoreline follows, where the ship is a small dot in the sky before it swings vertical and drops toward the launch towers. The final shots show the ship sliding down past the top of the tower, a close view of the hardware along its side meeting the arms, and the vehicle hanging in the chopsticks.
SpaceX has released a new Starship tower catch animation for the upcoming Flight 15! https://t.co/kStn01Da8u — Truthful🛰️ (@Truthful_ast) October 20, 2026
Musk called the catch the step that closes Starship’s reuse loop. “If we succeed, it will be the first time that an orbital launch vehicle has been fully recovered,” he said. He put the odds of success on the first attempt at “more likely than not,” and said SpaceX has “a steady stream of Starship flight attempts through the end of this year” if Flight 15 falls short.
The sequence mirrors work SpaceX has already done with real hardware. In September, Ship 42, the vehicle assigned to Flight 15, was lifted by the Pad 2 chopsticks into a simulated catch position, where crews cycled the arms and connected the ship quick disconnect arm while it hung from the tower. NASASpaceflight has since reported that SpaceX removed Ship 42’s engines before its static fire and sent it back for another cryogenic test.
Gwynne Shotwell covered the regulatory side on the same call. After what she called “significant constructive engagement with the FAA,” SpaceX expects the Flight 15 license “to include return to launch site and tower catch for both stages.” Bringing the ship home means reentering toward land instead of the open ocean, which Musk said in February would only happen once the chance of the ship breaking up over land was very low, after two perfect soft landings at sea.
SpaceX has caught Super Heavy with the tower three times, on Flights 5, 7 and 8, but the ship returns from orbit at far higher speed and has never been caught. Flight 14 on September 28 was the first Starship to reach orbit, and it deployed 26 Starlink V3 satellites before splashing down, a mission SpaceX counted as its first revenue flight in the Q3 results it reported Tuesday.
The timing lines up with what Musk told the crowd at Giga Texas earlier this month, when he said Flight 15 would probably launch a little before Thanksgiving and that Flight 16 could refly both stages. On Tuesday’s call he went further, saying Starship should fly weekly at some point in the first half of 2027 and twice weekly or more by the end of next year as SpaceX works toward landing a rocket and launching it again with no refurbishment.
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