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DeepSpace: SpaceX takes huge step towards Mars with flawless Crew Dragon performance
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While the mission is not done just yet, SpaceX is days away from (hopefully) wrapping up an extraordinarily smooth debut of its newest spacecraft, a human-rated vehicle known as Crew Dragon. Assuming no anomalous behavior during reentry, descent, and landing this Friday, SpaceX will likely be less than six months away from launching its first astronauts to the International Space Station (ISS), the most important step yet towards offering reliable and routine transport to Earth orbit and ultimately between Earth and Mars.
Founded by Elon Musk to kickstart a stagnant space industry and drive humanity to become an interplanetary species, SpaceX is in the process of building the first full-scale prototype(s) of the launch vehicle (Super Heavy) and spacecraft (Starship) it believes will deliver on those promises. Along with countless programmatic and technical lessons learned, every conceivable aspect of Crew Dragon’s development will feed directly into SpaceX’s development of Starship, meant to one day safely transport and land as many as 100 passengers on the surface of Mars.
A spacefaring civilization, one step at a time
In the process of building Crew Dragon, SpaceX has been forced to become rising experts in fields like human-rated environmental control and life support systems (ECLSS), as well as ensuring an even more extreme level of redundancy and reliability compared with SpaceX’s already high standards for their uncrewed Falcon rockets and Cargo Dragon spacecraft.
- More so than any particular piece of technology present on Crew Dragon, the process of both cooperating and grappling with NASA to build the spacecraft to high standards and ‘certify’ it has hopefully had an extremely positive impact on SpaceX’s own engineers and company-wide standards, albeit potentially at the cost of some of the willingness to take risks and move quickly.
“I’m personally convinced that this has made, certainly, SpaceX better, to have NASA guide us, and to look at requirements, and to try to question requirements, and what’s the true reason behind those requirements, and then basically comply with the overall safety culture that NASA taught us, I would say, to some extent. And so I feel like it certainly made a better SpaceX and made better engineers out of the SpaceX engineers. And I really appreciate that very much.”
-Hans Koenigsman, Vice President of Mission Assurance, SpaceX
Feet in Earth orbit, head in the Martian clouds
- Regardless, the end result will ultimately be a reliable spacecraft capable of transporting an average of 4-7 astronauts to and from the ISS, whether that end result is the result of near-perfect execution the first time around or discovering and fixing problems during flight tests.
- Compared to NASA, SpaceX prefers a radically agile approach to development, meaning that the company will rapidly build, test, and fly iterations of the same hardware of software, beginning with the minimum viable product and ending (although improvement never really ends) with an advanced solution optimized by extensive lessons learned.
- Through the process of building Crew Dragon, SpaceX has hopefully absorbed most of the valuable lessons and practices NASA can often be rich with while rejecting the unhealthy and unsuccessful tendencies that contribute to NASA’s distinctly unimpressive modern efforts to build human-rated rockets (SLS) and spacecraft (Orion, Space Shuttle).
- With that knowledge and technical experience, SpaceX may already have an extremely strong foundation upon which it can build its next-gen spacecraft, Starship. In theory, Crew Dragon’s life support system – meant to support up to 7 astronauts with extreme reliability and safety – should be able to scale up to ECLSS fit for dozens or hundreds of passengers.
- In a worst-case scenario relative to mass efficiency, SpaceX could quite literally package Crew Dragon’s ECLSS system into a module and duplicate it as many times as needed for a given Starship crew. Identical modules could then be transported in a cargo bay for any structures built on the surface of Mars or the Moon.
- Understandably, Crew Dragon does not need a significant number of systems critical for longer stays in space, as it is only designed to support humans for approximately one week in free-flight. SpaceX will still need to develop extremely efficient recycling systems, used to recycle water, oxygen, and other consumables to extend the amount of time the ISS (or Starship/Mars colonies) can operate without external supply deliveries.
- In essence, recycling technology is roughly (or sometimes exactly) equivalent to something known as in-situ resource utilization (ISRU), basically prioritizing local resources over shipped goods. A small subset of SpaceX’s future projects team has been working on ISRU – particularly Sabatier reactors for Starship refueling on Mars – for several years.
- In late 2017, Elon Musk stated that the design and development of SpaceX’s own ISRU hardware were “pretty far along.”
Mission Updates:
- SpaceX’s Crew Dragon spacecraft will attempt its first orbital-velocity reentry and Atlantic Ocean splashdown on the morning of Friday, March 8th.
- The second launch of Falcon Heavy could occur as early as late March
- Aside from DM-1 and Falcon Heavy Flight 2, it’s unclear what SpaceX mission will happen next. DM-1 may be the only SpaceX launch in March, while several missions are tentatively scheduled for April and May.
Photos of the week:
B1051 returned to Port Canaveral three days after successfully sending Crew Dragon on its first orbital mission. Thanks to the relatively low-energy trajectory and gentle reentry, SpaceX should be able to refurbish the booster extremely quickly.(c. Tom Cross, Pauline Acalin)
Elon Musk has firmly denied recent media reports suggesting that SpaceX has reduced its target valuation for an upcoming initial public offering.
The denial came directly from the SpaceX and Tesla frontman on his social media platform X, where he responded with a single word, “False,” to a post from ZeroHedge that cited Bloomberg sources.
This swift rebuttal underscores Musk’s ongoing effort to manage speculation surrounding one of the most anticipated market debuts in recent history.
False
— Elon Musk (@elonmusk) May 29, 2026
According to the disputed reports, SpaceX had lowered its IPO valuation goal to at least $1.8 trillion from previous ambitions exceeding $2 trillion.
The claims emerged amid growing anticipation for the company’s confidential S-1 filing, which positions it for a potential public listing as early as June.
Some had pointed to strong revenue growth, particularly from the Starlink satellite internet service, which contributed heavily to the firm’s 2025 figures of $18.7 billion. Yet challenges persist in other areas, including substantial investments and losses tied to ambitious projects like Starship development and artificial intelligence initiatives, which plan to make life multiplanetary eventually.
Musk’s response highlights a pattern in which he actively counters what he views as inaccurate portrayals of his companies’ trajectories.
SpaceX, already valued privately at extraordinary levels, stands as a cornerstone of Musk’s empire alongside Tesla and xAI. The entrepreneur has long emphasized the transformative potential of reusable rockets and global broadband access, factors that fuel investor enthusiasm despite operational hurdles.
By rejecting the valuation downgrade narrative, Musk signals confidence in SpaceX’s fundamentals and its readiness for public markets on terms favorable to its long-term vision. People have been waiting a very long time to invest in SpaceX, and the valuation, as well as the introductory share price, is not going to need adjusting.
They’ll have plenty of suitors.
This episode reflects broader dynamics in the technology sector, where rumors often swirl around high-profile entities. Musk’s direct engagement with media narratives serves to maintain transparency and control the narrative around his ventures.
As SpaceX prepares for greater scrutiny in public markets, the founder’s denial reinforces optimism about its prospects. Supporters argue that the company’s innovative edge positions it for enduring success, far beyond short-term valuation debates. With the denial now public, attention turns to forthcoming regulatory filings that could provide clearer insights into SpaceX’s strategy and financial health.
The coming weeks promise to reveal more about how SpaceX will transition into a publicly traded powerhouse.
Tesla’s dreams of operating a fully autonomous ride-hailing platform just took a massive step toward reality, as two separate events have indicated the company is perhaps closer than ever to achieving self-driving as a product.
On Thursday, Tesla was granted authorization by the State of Texas to operate driverless vehicles in a commercial manner. On May 28, Senate Bill 2807, passed by the 89th Texas Legislature, took effect after being passed back on September 1, 2025.
The bill establishes a statewide regulatory framework requiring authorization from the Texas Department of Motor Vehicles for companies to operate automated vehicles commercially on Texas roads.
This covers driverless, or SAE Level 4+, operations for passenger transport, meaning Robotaxi, or freight.
Tesla and other companies can self-certify their vehicles and tech as long as they:
- Operate in compliance with Texas traffic laws
- Maintain proper registration, title, and insurance
- Use compliant automated driving systems
- Record onboard activity and handle system failures and glitches safely.
The new authorization, which was first reported by James Stephenson on X, allows companies to utilize their own processes to determine if their vehicles are ready to operate without drivers.
🚨BREAKING:
Tesla has been authorized by the State of Texas to operate driverless vehicles commercially under the new law that took effect today, May 28th, 2026. Tesla has officially self-certified the software running on its robotaxis as Level 4. $TSLA pic.twitter.com/KSJdsvlaW5— James Stephenson (@ICannot_Enough) May 28, 2026
It is a rule that expedites the entire approval process, keeping agencies out of a usually long, lengthy, and frustrating task that is essential to technological advancements. It essentially means Tesla can launch commercial Robotaxi operations at this point.
On the very same day, Tesla continued the momentum as CEO Elon Musk shared a video of Cybercab units autonomously driving off the property at Gigafactory Texas. This is a major step in the story of the Cybercab.
Mass production of the Cybercab started at Giga Texas in April, and it is already heading out of the factory on its own.
Cybercab driving itself out of the GigaTexas factory pic.twitter.com/EwAMVVDjYy
— Elon Musk (@elonmusk) May 28, 2026
These two major events mark a drastic step forward in Tesla’s progress toward Cybercab and the permissions it needs to operate a self-driving ride-hailing service. Tesla is now able to operate autonomously under Texas law by self-certifying, and with the potentially imminent rollout of Cybercab, Tesla’s autonomous dreams are starting to take serious shape.
Elon Musk
The Tesla and SpaceX merger everyone is talking about is quietly building
Tesla and SpaceX may be closer to merging than Wall Street or either company is admitting.
Elon Musk has reportedly discussed merging Tesla and SpaceX with people close to him, according to CNBC, which cited sources familiar with the conversation. Tesla employees have long expected such a transaction and the topic is openly discussed internally, according to internal sources. With SpaceX is days away from kicking off its Wall Street roadshow for what could be the largest IPO in market history, this would be the first time the company will have public market currency to execute a stock-for-stock deal with Tesla.
The financial logic for a merger would make sense. A combined SpaceX and Tesla would create a conglomerate spanning rockets, satellites, electric vehicles, AI infrastructure, and energy storage valued at roughly $3.35 trillion to $3.6 trillion based on SpaceX’s IPO target range and Tesla’s current market capitalization. The two companies are already more intertwined than most people realize. SpaceX bought $697 million worth of Tesla Megapack systems for xAI data centers and $131 million worth of Cybertrucks. Tesla invested $2 billion in xAI, which subsequently merged with SpaceX. Past transactions also include Tesla selling solar equipment and parts to SpaceX, and SpaceX helping with Cybertruck materials.
Will Tesla join the fold? Predicting a triple merger with SpaceX and xAI
Musk himself signaled where this was heading in November 2025 when he posted on X, “My companies are, surprisingly in some ways, trending towards convergence.” Tesla and SpaceX announced a joint semiconductor fabrication facility in Austin called Terafab on the Gigafactory Texas campus, covering two advanced chip factories, with one serving Tesla’s AI needs for vehicles and Optimus robots, the other targeting space-based data centers under SpaceX’s infrastructure vision.
Wedbush analyst Dan Ives places the probability of a merger at 80% to 90% with a target completion in the first half of 2027. The mechanics of a deal became possible the moment SpaceX filed its S-1. Legal experts said a merger likely would not spark antitrust issues but would raise concerns among shareholders in each company, with questions around which company would be the parent, how a stock swap would take place, and who determines the appropriate price. Musk holds about 20% of Tesla’s equity but controls 85.1% of SpaceX’s voting power through a super-voting share class, meaning he would largely be negotiating the terms with himself.
Not everyone is convinced the timing is imminent. Traders on Kalshi place only 33% odds that a merger will happen before May 2027. The more immediate concern for Tesla shareholders is whether the SpaceX IPO pulls capital and Musk’s attention away from Tesla before any merger consolidates the upside for both.
What is clear is that the structural groundwork is already being laid. The Terafab announcement, the xAI merger, the shared supply chain, the cross-company balance sheet transactions, and now the IPO all point in the same direction. Whether the merger follows in 2027 or later, the two companies are already operating more like divisions of a single entity than independent competitors.
Elon Musk strikes down reports on SpaceX IPO rumors
Tesla’s Robotaxi dreams just took a massive step toward reality
