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SpaceX isn’t giving up on catching rocket fairings, boat spotted with new net
SpaceX fairing recovery vessel Mr. Steven was spotted in Port of San Pedro on January 22nd performing tests with two fairings in its net, hinting at the challenging logistics of safely recovering both Falcon 9 fairing halves with one ship.
Although SpaceX engineers and technicians have yet to catch a parasailing Falcon 9 fairing (let alone two) after an actual operational launch, a series of controlled fairing drop tests – using a barge and a helicopter – have brought Mr. Steven agonizingly close to success, evidenced by an official video published by SpaceX earlier this month.
Two fairing halves, each in a separate net aboard Mr Steven this morning. #spacex pic.twitter.com/beYSFQwcYr
— Pauline Acalin (@w00ki33) January 23, 2019
Teslarati photographer Pauline Acalin managed to make it to Berth 240 in time to capture one section of SpaceX’s fairing recovery testing, in which Mr. Steven was loaded with two fairings, one on the large main net (the passive half) and one (the active half) atop a much smaller net slack on the vessel’s deck. By asymmetrically actuating each net’s separate electric motors, recovery technicians appear to be able to control fairing half orientation and shift their position in the net. It’s unclear how exactly Mr. Steven’s main (top) and secondary (bottom) nets are meant to interface insofar as it does not appear physically possible for a fairing half in the top net to make its way to the bottom net without the intervention of dockside cranes.
Perhaps more importantly, local photographer Jack Beyer was able to observe additional activities just prior to Pauline’s arrival, capturing what looked like a weighted parachute drop test onto either Mr. Steven’s net or the concrete docks beside the vessel.
So far they’ve placed one fairing half in the top net with another in the bottom, and done at least one drop test of a weight with a parachute. ? pic.twitter.com/MkWb9l9lqz
— Jack Beyer (@thejackbeyer) January 22, 2019
The goal of that parachute/weight drop test is entirely opaque. Regardless, Tuesday’s tests do seem to indicate that SpaceX is thinking about recovering both post-launch Falcon fairing halves with a single Mr. Steven, a capability upgrade that would make the incomplete challenge of catching fairings even more difficult. Assuming both fairing halves deploy their parafoils at roughly the same time, it might be possible for the autonomous parafoils to modify trajectories in such a way that a gap of seconds or even minutes could be created between both planned splashdowns, offering Mr. Steven a minute or two to free its net of the first captured half before gently catching the second.
Despite the fact that SpaceX has not yet had operational success in the ~12 months recovery engineers and technicians have been working with Mr. Steven, tests like those performed on Tuesday have continued to reliably occur. If anything, the fact that experiments with dual-fairing recovery operations are still on the table is an encouraging indication that fairing recovery and reuse – particularly with Mr. Steven in the loop – are still a priority at SpaceX, while also suggesting that the company’s engineers and technicians are extremely confident that repeatable success is just a matter of refinement.
This should not come as a much of a surprise given that Falcon 9 began propulsive soft landing attempts in September 2013, 27 months before the company’s first successful Falcon 9 booster recovery. Nevertheless, SpaceX attempted its first actual landing aboard a drone ship in January 2015, separating the first attempt from the first successful landing by just less than 12 months. Fairing recovery is clearly an entirely different beast but the gist of this analogy remains true regardless – SpaceX’s brilliant engineers and technicians are unlikely to give up until a given problem is solved or their efforts are redirected elsewhere as company priorities shift.
Recent fairing recovery test with Mr. Steven. So close! pic.twitter.com/DFSCfBnM0Y
— SpaceX (@SpaceX) January 8, 2019
Berth 240’s uncertain future
In the meantime, SpaceX may soon have to move Mr. Steven’s Port of San Pedro operations elsewhere according to a report from the LA Times that the company plans to “terminate [its] Terminal Island lease agreement.” SpaceX was unable to offer further insight beyond a statement provided about the future of BFR’s manufacturing, initially planned to occur at a dedicated factory that would have been built at Berth 240, which has also acted as Mr. Steven’s home for the last eight months.
Given the lack of official insight into the proceedings, it’s ambiguous if the terminated lease will be modified to allow for Mr. Steven to continue operating out of Berth 240. Prior to moving to Berth 240, SpaceX stationed Mr. Steven at Berth 52, home of drone ship Just Read The Instructions (JRTI) and support vessel NRC Quest. Space is already tight at that site, however, making it a suboptimal replacement for Berth 240.
While I feel crushed about #SpaceX pulling the #SuperHeavy out of the @PortofLA, I feel confident that other innovators will see the huge value they get in San Pedro. (1/2)
— Joe Buscaino (@JoeBuscaino) January 16, 2019
SpaceX signed its Berth 240 lease near the end of March 2018 and would have reached the first anniversary of its prospective BFR factory around two months from now. For now, only SpaceX seems to know where Mr. Steven’s operations and the first BFR (Starship/Super Heavy) production will ultimately be located.
Tesla has finally clarified the situation regarding the viral crash in Texas where a Model 3 slammed into a home.
CEO Elon Musk replied to reports on Monday that stated the crash was due to the company’s Full Self-Driving or Autopilot suite, which seemed unlikely to those who are familiar with it. Video showed the car slamming into a house at an excessive rate of speed, making it highly unlikely the crash was due to the suite’s operation, as it does not travel at those speeds in residential areas.
Musk said:
“This makes no sense. FSD drives slowly through neighborhood streets, and this was a high-speed crash!”
Tesla’s Head of AI, Ashok Elluswamy, added context, revealing that the company’s data shows the driver “manually overrode self-driving by pressing the accelerator all the way to 100%.”
He revealed the speed reached by the car was 73 MPH, and the accelerator was still pressed “even after the crash.”
Yup. In this case, the driver manually overrode self-driving by pressing the accelerator all the way to 100% of the accel pedal in this residential area. They reached a speed of 73 mph during the crash, and had the accelerator pressed even after the crash.
— Ashok Elluswamy (@aelluswamy) June 22, 2026
Authorities are reportedly investigating “whether Tesla’s Autopilot system played a role after a Model 3 left the roadway…slammed through a brick house at high speed and fatally struck Matha Avila as she sat inside,” the New York Post reported.
The National Highway Traffic Safety Administration (NHTSA) is now investigating the crash. Tesla will work with the agency to provide them with whatever information they need in order to clarify the cause of the crash.
Similarly, Tesla had claims of a fatal accident in Harris County, Texas, a few years ago. Early reports indicated that Full Self-Driving was the cause of the crash. After the National Transportation Safety Board (NTSB) worked with Tesla, the agency proved there was “no use of the Autopilot system at any time during this ownership period of the vehicle, including the time frame up to the last transmitted timestamp on April 17, 2021.”
Tesla alleged “driverless” crash in Texas: What is known so far
“Application of the accelerator pedal was found to be as high as 98.8 percent,” the NTSB said in their findings. The highest recorded speed in the five seconds leading up to the impact was 67 miles per hour. The area where the crash occurred is residential, and Texas State laws have default speed limits of 30 MPH in residential streets.
This appears to be a similar situation. However, an investigation will prove what happened for sure.
SpaceX announced today that it commenced its first-ever public bond offering, marking a significant step in the newly public company’s capital markets strategy.
The company announced an offering of senior unsecured notes expected to raise at least $20 billion.
The move comes just a short time after SpaceX completed one of the largest initial public offerings in history. In mid-June, the company priced shares at $135 and raised more than $85 billion, propelling founder Elon Musk’s net worth past the trillion-dollar mark and giving the firm substantial liquidity.
🚨 SpaceX has announced its inaugural offering of senior unsecured notes.
The net proceeds will be used to repay outstanding loans under its bridge loan facility in full.
This inaugural debt offering represents a financing milestone for SpaceX, which previously depended… pic.twitter.com/pcOZuVbTRv
— TESLARATI (@Teslarati) June 22, 2026
According to the company’s SEC filing, the net proceeds from the notes will be used primarily to repay in full the outstanding borrowings under its existing bridge loan facility, cover related fees and expenses, and fund general corporate purposes. The offering is being conducted under Rule 144A, as well as Regulation S, targeting qualified institutional buyers and non-U.S. investors. Notes will be unsecured obligations ranking equally with other unsubordinated debt.
The $20 billion bridge loan was used to refinance approximately $17.5 billion in higher-cost “junk” debt tied to X and xAI. SpaceX had merged with xAI in February 2026 in an all-stock deal. The bridge facility, which matures in September 2027, had represented the bulk of SpaceX’s long-term debt.
SpaceX officially acquires xAI, merging rockets with AI expertise
In connection with the bond launch, SpaceX disclosed it held approximately $100.8 billion in cash and cash equivalents as of June 19. Investor calls began on the announcement date, with pricing and launch expected shortly thereafter. Rating agencies have assigned investment-grade ratings to the proposed bonds, reflecting confidence in SpaceX’s dominant position in commercial launches and the growth trajectory of its Starlink internet offering.
The debt raise also allows SpaceX to optimize its balance sheet by replacing short-term, higher-cost bridge financing with longer-date, lower-cost fixed-income securities. This provides greater financial flexibility to support capital-intensive initiatives, including the development of Starship, the expansion of the Starlink constellation, and the integration of AI capabilities following the xAI combination.
SpaceX shares (NASDAQ: SPCX) fell sharply on the news, dropping over 16 percent overall on the market on Monday. The stock had surged initially after debuting but pulled back amid profit-taking and broader market dynamics.
Overall, the bond offering underscores SpaceX’s transition to a mature public company with access to diverse funding sources. It positions the firm to pursue its long-term vision of multiplanetary expansion and AI infrastructure, while maintaining a disciplined approach to its capital structure in a high-growth but capital-heavy industry.
SpaceX confirmed today that it has officially signed its third massive compute deal, providing compute at its Colossus data center in Southaven, Tennessee.
Reflection AI will gain immediate access to NVIDIA GB300 chips at SpaceX’s Colossus 2 data center. In return, Reflection will pay SpaceX $150 million per month starting on July 1, with total payments reaching approximately $6.3 billion if the contract runs through its duration, which is until 2029. Either party can terminate the agreement with 90 days’ notice after the initial three-month period.
CNBC first reported the deal.
🚨 SpaceXAI has agreed to a new compute deal with Reflection AI.
Reflection gets access to NIVIDIA GB300s, and will pay $150M per month to SpaceXAI for the compute. pic.twitter.com/bNPare8U5u
— TESLARATI (@Teslarati) June 22, 2026
This latest partnership highlights SpaceX’s strategy of commercializing its massive Colossus supercomputing infrastructure, originally developed to power Elon Musk’s Grok AI models. The company has rapidly expanded its customer base in the AI sector following its February 2026 merger with xAI, a transaction that valued the combined entity at $1.25 trillion.
SpaceX has previously signed significant compute deals with other major players.
It granted Anthropic exclusive access to the full capacity of its Colossus 1 data center, which exceeds 300 megawatts and includes over 220,000 NVIDIA GPUs. Details from SpaceX’s IPO filings indicate Anthropic will pay $1.25 billion per month through May 2029, potentially generating around $45 billion over the term of the deal.
Additionally, Google agreed to pay SpaceX $920 million per month for compute capacity from October 2026 through June 2029. This 32-month period will provide Google access to roughly 110,000 NVIDIA GPUs, along with supporting processors and memory. Capacity ramps up through September at a reduced fee, with termination options after the first year.
SpaceXA also established arrangements for computing power with Cursor, an AI coding startup. SpaceX acquired them in a $60 billion all-stock deal.
These arrangements position SpaceX’s collective position as an AI infrastructure powerhouse with high-margin revenue potential. The Google deal alone could generate nearly $29.5 billion over its term, while the Reflection contract adds another $6.3 billion.
Combined with the Anthropic arrangement, SpaceX stands to realize tens of billions in revenue from compute leasing in the coming years, which diversifies beyond SpaceX’s traditional rocket launches and Starlink operation.
The deals underscore growing demand for advanced AI training and inference capacity amid chip shortages and surging model development needs. Reflection, valued at $25 billion and focused on “American open intelligence” with government and national security ties, cited recent restrictions on closed models as validation for open-source approaches.
For SpaceX, the partnerships transform capital-intensive data centers into flexible revenue sources while supporting its broader AI ambitions after the company has gone public.
Tesla finally clarifies fatal Texas crash, confirms driver manually overrode acceleration
SpaceX makes $20 billion move to optimize its balance sheet
