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SpaceX to test last old-gen Falcon 9’s orbital upper stage lifespan tonight
SpaceX Falcon 9 B1045 is just hours away from completing its second and final mission, a launch that will also signify a swan-song for the reusable rocket company’s Block 4 and older boosters. Not one to let an opportunity go to waste, Elon Musk’s space company intends to do a long coast demonstration of the orbital upper stage once the reused Cargo Dragon spacecraft separates.
Jessica Jensen, SpaceX’s Director of Dragon Mission Management, spoke among a panel of CRS-15 stakeholders on the morning of June 28 and spoke evident pride and confidence in the company’s progress up to this point, with respect to both the mission at hand and SpaceX’s achievements more generally. CRS-15, the third flight-proven Dragon and Falcon 9 launch, is a fitting mission for SpaceX to bring to a close their H1 launch manifest (the 12th of 2018), mainly due to the impressive fact that more than two-thirds of the boosters launched this year have been flight-proven.
Falcon 9 B1045 before its first launch, carrying NASA’s TESS exoplanet observatory, in April 2018. (Tom Cross)
As Jensen rightfully noted, SpaceX completed its first-ever reuse of a recovered Falcon 9 booster scarcely 15 months ago in March 2017, a period in which SpaceX has since completed 26 missions, recovered 16 Falcon 9 and Heavy boosters, and successfully launched 12 flight-proven rocket boosters. At the current rate of launch, SpaceX is likely to smash its previous annual cadence record – 18 in 2017 – with anywhere from 24 to 28 launches this year, with CRS-15 marking a dozen missions in the first half of the year, if successful. As such, simply the launch frequency in the first six months would bring SpaceX to 24 completed missions this year. A slight uptick, perhaps as a result of the rapid reusability of new Block 5 boosters, might allow SpaceX to squeeze in several additional missions.
Falcon 9 B1045 and it’s Cargo Dragon C111 prepare for their second flights on June 29. (Tom Cross)
Critically, Jensen also noted that B1045’s final launch will be significant for a reason other than the fact that it nearly halved the previous record for Falcon 9 booster refurbishment, an accomplishment she ceded to the skill and growing experience of SpaceX’s rocket refurbishment teams of engineers and technicians. Aside from that growing expertise, she stated that
“[CRS-15] will also be the final Block 4 configuration of a Falcon 9 booster that SpaceX flies, so all the boosters from here on out will be the Block 5 version.”
Barring unforeseen design flaws, Falcon 9 Block 5 has the potential to be a game-changer, perhaps allowing SpaceX to finally realize a long-term goal of dramatically lowering the cost of access to orbit with new reliable, reusable rockets. Reported by NASASpaceflight.com to be flying aboard a Block 4 booster, something also confirmed to Teslarati through a separate source, it’s not 100% clear if Jensen’s blanket statement included the upcoming in-flight Crew Dragon abort test, scheduled sometime after the upgraded Dragon’s first launch in late 2018. Regardless, she is fully correct in the sense that all future commercial SpaceX launches after CRS-15 will quite definitively fly aboard Falcon 9 and Heavy Block 5 rockets.
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- The first Block 5 Falcon 9 lifts off on May 4, 2018. (Tom Cross)
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- After CRS-15, all orbital launches will be use Block 5 boosters and upper stages. The upgraded rocket’s next launch is NET July 20. (Tom Cross)
Flight-proven Cargo Dragons a new norm for SpaceX
Meanwhile, the specifics of CRS-15 mirror SpaceX’s two most recent International Space Station resupply missions, both of which simultaneously flew flight-proven orbital Cargo Dragon spacecraft and flight-proven Falcon 9 boosters, leaving just the second stage and Cargo Dragon trunk to be expended. As a taste of the future SpaceX fully intends to realize, the spectacle of these CRS missions is not only undeniable but demonstrates a newfound confidence in commercial reusable rockets growing within NASA, an agency that SpaceX would quite simply not be here today without.
https://twitter.com/_TomCross_/status/1012490324646748163
After CRS-15, SpaceX has another five flight-proven Cargo Dragon missions left on their CRS-1 contract, after which the updated CRS-2 contract will take over, replacing the old Cargo Dragon with an upgraded cargo version of SpaceX Crew Dragon, also known as Dragon 2. CRS-2 launches are currently scheduled to begin sometime in 2020.
Finally, reminiscent of Falcon Heavy’s spectacular debut launch, Falcon 9’s upper stage “will be doing a long coast demonstration [after Cargo Dragon separates from the rocket]”. Jensen was unable to go into more detail here, but it can be safely presumed that the S2 coast test is either related testing for upper stage reusability or is being used as an opportunity to further demonstrate on-orbit coast capabilities to the US Air Force and/or NASA, a feature that is necessary for certain national security and interplanetary missions.
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- An overview of Crew Dragon’s main features, all of which can be seen in the real-life photos. The Cargo Dragon version will likely remove seats and windows. (SpaceX)
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- The DM-1 Crew Dragon testing inside SpaceX’s anechoic chamber, May 2018. (SpaceX)
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- SpaceX’s Demo Mission-1 Crew Dragon seen preparing for vacuum tests at a NASA-run facility, June 2018. (SpaceX)
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Tesla CEO Elon Musk posted a photo of himself standing with the Optimus production team inside Tesla’s Fremont factory, arms crossed amid workers in hard hats and safety vests. The image captures a pivotal industrial shift: the same facility space once dedicated to building Tesla’s flagship Model S sedan and Model X SUV is now home to the company’s humanoid robot manufacturing line.
Walking the Optimus production line in Fremont pic.twitter.com/ABS0tuRibW
— Elon Musk (@elonmusk) July 1, 2026
Tesla’s Fremont Factory, acquired in 2010 from the former NUMMI joint venture between Toyota and GM, has been the company’s original U.S. manufacturing hub since Model S production began in 2012.
The Model X followed soon thereafter. These premium vehicles offered lower annual volumes, recently around 30,000 combined, compared to the high-volume Model 3 and Model Y lines that continue around the site. Over their combined run, the S and X accounted for roughly 610,000 units.
In late January 2026, during Tesla’s Q4 2025 earnings call, Elon Musk announced the end of Model S and Model X production in Q2 2026. The final vehicles rolled off the line in early May. Rather than retooling for another vehicle, Tesla chose to convert the dedicated S/X assembly area into a dedicated Optimus Gen 3 production line.
Model 3 and Y manufacturing remains unaffected. Tesla’s official Fremont Factory page now lists Optimus alongside the 3 and Y as core products.
The conversion was executed with remarkable speed. After production stopped, crews dismantled the existing vehicle line and installed entirely new modular equipment—including lines sourced from Germany and dozens of sub-lines for actuators, batteries, and other components—in roughly four months.
Musk described the timeline as “insanely fast,” noting it would be unprecedented for any other manufacturer. Initial Optimus output is expected to ramp slowly due to the robot’s roughly 10,000 unique parts and the brand-new production processes involved. The Fremont line targets an eventual capacity of 1 million Optimus units per year.
Tesla isn’t joking about building Optimus at an industrial scale: Here we go
Optimus Development Timeline
- August 19, 2021: Optimus (then called Tesla Bot) formally announced at Tesla’s first AI Day. A concept video showed a person in a suit demonstrating the vision for a general-purpose humanoid capable of dangerous, repetitive, or boring tasks using the same AI architecture as Full Self-Driving.
- 2022: Early prototypes displayed. At the second AI Day in September, semi-functional units demonstrated walking across a stage and basic arm movements
- 2023: September videos showed improved capabilities, including sorting colored blocks, precise limb awareness, and holding a Yoda pose.
- 2024-early 2025: Factory integration videos showed Optimus navigating workspaces and handling objects like battery cells.
- January 2026: Gen 3 mass-production activities began at Fremont, with reports of over 1,000 Gen 3 units already operating inside the factory for real-world learning and AI training
- April 2026: Musk confirms Optimus production on converted Fremont line would begin in late July or August 2026. The Gen 3 reveal, originally eyed for Q1, was pushed closer to production start. A second, much larger Optimus factory at Giga Texas is under construction, with volume production targeted for Summer 2027 and long-term capacity of 10 million units annually
- July 1, 2026: Musk’s on-site visit and team photo confirm the Optimus line is operational and the transition is actively progressing
Tesla positions Optimus as potentially its largest project ever, leveraging vertical integration, AI expertise, and car-like manufacturing know-how to scale humanoid robots first for its own factories and later for broader industrial and consumer use.
The Fremont conversion serves as a critical proving ground for this ambitious new chapter in Tesla’s already-rich history.
Investor's Corner
Tesla gets its latest short from Michael Burry: ‘Happy it jumped back to this level’
Tesla short seller Michael Burry, the subject of the film “The Big Short,” where he was portrayed by Steve Carell, has revealed he has opened a new bet against the stock.
In a new update to his Substack newsletter in a post titled “Trading Post June 30, 2026,” Burry revealed a new set of bets against Tesla, Caterpillar, NVIDIA, Applied Materials Inc., and the iShares Semiconductor ETF.
In regard to Tesla, Burry wrote:
“And finally I shorted Tesla at 416.22. Happy it jumped back to this level.”
This means Burry likely opened his new short position after the company’s recent rally on Wall Street, which saw Tesla shares sink in mid-May, only to recover to well over the $400 mark. Currently, shares trade at around $427.
The company saw a big Tuesday as shares climbed considerably, over 10 percent. The size of the Tesla short was not provided, nor did Burry give any information on the position’s structure, the number of shares, dollar value, or whether options were used in the short.
The Tesla and SpaceX merger everyone is talking about is quietly building
Over the years, Burry has been one of the more vocal critics of Tesla, calling its share price “media inflated,” and saying it was “ridiculously overvalued” as recently as December.
The company has largely transitioned away from being known as an automotive company and instead is much more widely regarded as an AI play, mostly due to its Full Self-Driving efforts, Optimus robot development, and data collection related to both.
This has not pulled those skeptics away from being vocal about their distaste for how Tesla is valued, but there’s no denying that the company is a global force in many things, including sustainable energy, automotive, and AI.
Wedbush Securities is initiating stock coverage on SpaceX (NASDAQ: SPCX), marking the first comments on the company since it went public several weeks ago. Wedbush and its analyst handling coverage, Dan Ives, are widely bullish on fellow Musk company Tesla (NASDAQ: TSLA).
Ives wrote his first note initiating coverage of SpaceX shares on Wednesday with a $190 price target and an ‘Outperform’ rating. The firm believes the company is well positioned off of its IPO because of its wide array of projects, including AI compute power and infrastructure, connectivity projects, and launches.
“We view SpaceX as one of the most differentiated assets within the tech market with a strong footprint across its three core markets, with Starlink driving success with connectivity,” Ives wrote, “Starship launches leading to a demand flywheel and increasing deal flow for its Colossus clusters.”
Elon Musk called it Epic: The full story of SpaceX’s Starship Flight 12
Wedbush leans heavily on Starlink, which they say is the “profitability driver given the strength of its recurring revenue base of ~12 million subscribers as of June 5th.” Ives believes Starlink is still in the “early innings” of penetrating the global telecommunications and broadband market, as it only holds less than a 1 percent share. However, this number is sure to increase over time.
It also highlights the importance of Starship, which it says is an “essential layer” of SpaceX’s overall success. SpaceX developing and displaying the ability to reuse rockets is a major cost and reliability advantage “as it reduces the necessary hardware launch costs while generating a feedback loop for future flights to improve their launch flight rate without accelerating capex spend.”
Finally, SpaceX’s recent AI/Compute projects are also very elementary, Ives writes. It is worth mentioning Wedbush said its $190 price target is derived from a valuation forecast that sees the company yielding roughly $2.48 trillion of implied enterprise value.
There are also some factors that Wedbush did not take into account with its initial coverage. The firm wrote in the note:
“We note that there is optional value coming from Starship’s accelerating scale towards sub-$200/kg unit economics, orbital data centers, and enterprise AI monetization as these factors could drive meaningful upside but these face major hurdles, so we do not take that into account with our valuation.”
SpaceX shares are down just over 2 percent today, trading at around $167 at the time of publication.
Tesla Optimus project fires up as Musk sees production line progress
Tesla gets its latest short from Michael Burry: ‘Happy it jumped back to this level’
