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SpaceX marine fleet kicks into high gear
As SpaceX looks to continue its quest to achieve over 140 launches this year, its marine fleet is functioning at an insane pace.
SpaceX currently operates a trio of autonomous spaceport drone ships, two fairing recovering ships, and two Crew/Cargo Dragon recovery ships.
A Falcon 9 returns to Port Canaveral aboard ‘Just Read the Instructions’ with Bob towing (Credit Richard Angle)
In years past, SpaceX has been able to comfortably launch missions and have plenty of time for a droneship to bring a Falcon 9 back to port before their next mission would be up and have time for crew rest, but with their increased cadence last year and into this year, SpaceX is starting to see record turnarounds between arriving back into port and disembarking for their next landing attempt.
The most recent example is the droneship ‘A Shortfall of Gravitas’ returning a Falcon 9 to port just ~50 hours after landing, traveling over 600km and through the Bahamas, unloading the Falcon 9 onto shore, and leaving back to sea for another Starlink mission the following evening with fairing recovery ship Doug tagging along to recover the fairings after their own trip back to Earth.
The other East Coast-based droneship, ‘Just Read the Instructions, ‘ also completed its own ~12-hour turnaround to support another Falcon 9 landing, with support ship Bob assisting in that fairing recovery. Over on the West Coast, the droneship, ‘Of Course I Still Love You,’ is already out at its respective landing zone to support a Starlink mission.
Having these vessels ready and out to sea gives SpaceX the chance to support a possible triple header later this evening, with three Falcon 9 launches possible within around five hours of each other.
The fairing recovery ships, named after the NASA astronauts who completed the Demo 2 mission, Bob & Doug, stay consistently busy as well, helping recover fairings to save SpaceX the roughly $6 million it costs to make a new set. In some cases, these ships will stay out for two straight missions and return to port with 4 fairings. The ships also use their cranes to move recovery personnel onto the droneships. They are capable of towing them, but that is usually reserved for a dedicated tug boat that is hired by SpaceX.
Bob and Doug at Port Canaveral (Credit Richard Angle)
The Crew/Cargo Dragon recovery ships, also named after NASA astronauts Megan McArthur (Crew-2) and Shannon Walker (Crew-1), are out to sea pretty frequently. When not recovering Crews or science experiments in Cargo Dragons, they conduct many training exercises to keep their skills high.
Fairing recovery ship Doug with Dragon recovery ship Shannon (then named GO Navigator) (Credit Richard Angle)
Having these ships able to maintain such a fast pace is in itself impressive, as the ocean is unforgiving at times, as evidenced by the recently lost Booster 1058, which toppled over in rough seas and was lost.
As the launch count climbs, more and more pressure will be placed upon the fleet as they look to maintain their safety and fast-paced work, ensuring SpaceX can keep setting industry records.
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Do you think SpaceX needs to add a couple more ships and maybe another droneship?
Questions or comments? Shoot me an email at rangle@teslarati.com, or Tweet me @RDAnglePhoto.
In a new note to investors on Tuesday, Morgan Stanley analyst Andrew Percoco said that Tesla has one big financial question to answer for investors regarding its Robotaxi rollout, Full Self-Driving software, and Optimus.
Percoco said in the note that, for the most part, investors are still very positive about the direction the company is headed. However, there are some things the firm would like to see, and they have to do with financials.
Tesla (TSLA) Q2 2026 earnings results: miss on EPS, beat on revenue
Tesla bulls are more than convinced that the company’s Full Self-Driving software is proof it can develop physical AI. Financially, however, there are still some questions, especially on elevated spending, which CEO Elon Musk said would occur as the company works to roll out Robotaxi faster and continue developing its Optimus robot.
The latter two are where Tesla will have to prove progress to investors, as Percoco writes that both projects “will require clearer evidence that Robotaxi is scaling and more tangible Optimus proof points to support the ROI on elevated capex.”
Percoco said the second quarter earnings call did not change his long-term thesis of where Tesla is positioned in the AI race, which is out in front. However, there are concerns that weaker gross margins and higher R&D spend will stress financials, and that has “sharpened our (and investors’) focus on measurable progress across Robotaxi and Optimus.”
Additionally, Robotaxi still needs to be proven with more operation in existing cities while maintaining safety but improving how many rides it gives in any given time, he said. For Optimus, Percoco wrote that he is “still looking for evidence beyond commentary around SOP.”
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Morgan Stanley put Percoco in charge of covering Tesla after long-time analyst Adam Jonas transitioned to the automotive side.
Currently, Morgan Stanley has a $415 price target on Tesla and a ‘Hold’ rating on the stock. It is trading at around $330 at the time of publication, which was 2:30 P.M. on the East Coast.
SpaceX’s massive investment in AI will make it a big winner, Argus Research said after the company’s successful earnings call last week.
The firm also upgraded shares to a Buy from Hold and set a $160 price target.
SpaceX (NASDAQ: SPCX) is currently recovering from its heavy AI infrastructure investments, as it spent nearly $16 billion in Q2 alone. The company did this primarily by monetizing high-demand GPU compute capacity at a much faster pace than traditional data center economics would suggest.
Company CFO Bret Johnsen said that SpaceX would be able to pay back anything on new deployments within a year.
There are plenty of ways the company can do this:
Leasing excess compute capacity through contracts
SpaceX has already built Colossus and Colossus II, largely for its own model training. However, much of that capacity is already rented out to third parties. It already has major deals with Anthropic, Google, and Reflection AI. These partnerships are adding billions per month to SpaceX’s spreadsheet.
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High utilization driven by industry-wide scarcity
The demand for advanced AI training and inference capacity continues to exceed what is available for use. SpaceX can fill new racks quickly after they come online, so the capital deployed converts into revenue with minimal idle time.
Additionally, management and outside observers have described the new compute capital as behaving more like a cost-of-goods-sold than traditional multi-year capex, especially because of this rapid monetization pattern.
Capacity has already scaled from ~0.4 GW a year to 1.4 GW annually by the end of Q2. There are targets of more than 2 GW by year-end.
High incremental margins on the rental business once capacity is online
GPU cloud providers often operate at strong gross margins. SpaceX can monetize capacity that was already partially built or can be added efficiently. This means that incremental EBITDA margins on the rental revenue are usually high. This accelerates cash recovery relative to the gross capital outlay.
Parallel monetization of its own AI software and applications
Beyond pure infrastructure rental, SpaceX also generates revenue from Grok through subscriptions and usage, from X through ads, data, and other related services, enterprise APIs, and the planned integration of the Cursor coding tools acquisition.
These application layers ride on the same compute infrastructure and provide additional high-margin streams that could offset build-out costs. AI-segment revenue overall rose sharply to about $2.6 billion in Q2, according to Motley Fool. This was driven primarily by the infrastructure contracts, but the software side is also partially responsible.
Efficient, large-scale deployment and vertical integration advantages
SpaceX has emphasized the rapid construction of power and cooling infrastructure and favorable cost-per-megawatt economics relative to industry benchmarks in some disclosures.
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Combined with its ability to scale capacity aggressively and the fact that many contracts start generating revenue within months of capacity coming online, the effective payback compresses dramatically compared with more conventional multi-year data-center projects.
SpaceX’s dominant near-term recovery path will turn the AI clusters into a hyperscale-style compute rental business for other leading AI companies while still using a portion for internal models.
Tesla headlights have caused a recall of over 20,000 of the company’s two most popular vehicles, the Model 3 and Model Y, due to the low-beam bulb exceeding the maximum allowed intensity according to federal standards.
Tesla initiated the recall with the National Highway Traffic Safety Administration (NHTSA) this morning, stating that the low-beam output “exceeds the maximum allowed intensity in the outer upper-right and outer upper-left areas of the 10U and 90U zone, as prescribed in FMVSS No. 108.”
Tesla sourced the impacted headlights from Marelli Automotive Lighting, a Mexico-based company. The recall impacts 2020-2023 Model Y vehicles and 2017-2023 Model 3 vehicles. It is estimated that every VIN in this recall is impacted by the defect.
🚨 Tesla is recalling 20,349 2020-23 Model Y vehicles and 2017-23 Model 3 vehicles due to an excessively bright headlamp low beam.
Currently, there is no remedy plan in place, as it is still being developed. pic.twitter.com/y34cIO2U0B
— TESLARATI (@Teslarati) August 11, 2026
Typically, Tesla would remedy recalls of this nature through an Over-the-Air software update, which has been a major focus of criticism by the company and its supporters because the NHTSA still refers to it as a “recall,” even though it requires no action by the vehicle owner. The fix is shipped over the internet and downloaded to the car.
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However, there appears to be a potentially different solution for this problem. Tesla has not developed a remedy for this issue, so it could potentially be on the way. The big issue appears to be the fact that these recalled lamps are out of production, and this is an old body style for both vehicles. The headlights and front-end designs are completely different.
Tesla switched to another supplier when the affected headlight design was discontinued. It plans to begin notifying owners of their remedy options by September 15.
Tesla filed a petition protesting the recall to fix the vehicles’ headlight issue, but the NHTSA denied it. Now, Tesla will come up with a solution to fix it.
Tesla has one big financial question to answer for investors: Morgan Stanley
SpaceX AI investment gamble will make it a big winner, firm says
