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SpaceX’s first fairing catch imminent with plans to 4X Mr Steven’s net
Following SpaceX CEO Elon Musk’s brief confirmation that the launch company would be quadrupling recovery vessel Mr Steven’s already-huge net, members of the /r/SpaceX subreddit created a rough visualization of what that expanded net might look like once completed.
Based on rough estimates done by the author, SpaceX’s official confirmation that fairings had landed within 50 meters of Mr Steven’s net indicates that the parasailing halves are able to somewhat reliably reach Mr Steven’s net with a margin of error of roughly 0.01% when they really need 0.005% to be caught in the vessel’s net every time. Based on specifications from the vessel’s shipyard, his current claws appear to be roughly 75% the length of the entire vessel, or something like 40m long by 30 to 40m wide.
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- An artist rendering of a Falcon 9 fairing parasailing towards Mr Steven’s net. Original photos by Chuck Bennett (Instagram @chuckbennett) and SpaceX. (/Chuck Bennet/SpaceX/Eric Ralph)
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- It’s difficult to imagine how Mr Steven’s already vast net could plausibly be expanded by a factor of two in each dimension. I certainly can’t wait to see how SpaceX engineers and technicians tackle the task. (Pauline Acalin)
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- Created by Reddit /u/Pipinpadiloxacopolis, this visualization shows Mr Steven with net with 4X the area currently installed. (Teslarati/ /u/Pipinpadiloxacopolis)
Several days after the author’s speculation was published, Mr. Musk appeared to effectively corroborate it by stating on Twitter that Mr Steven’s net would have its area expanded fourfold in order to operationalize fairing recovery: to quadruple the area, both the length and the width of the net would need to be expanded by a factor of two (square) or perhaps 50% width-wise and 150% lengthwise (more rectangular). Mr Steven’s massive steel arms appear to be fairly permanent in their current forms, suggesting that changing the aspect ratio of the net would be far more effort than simply expanding his arms along their current paths. Either way, lengthwise growth of a factor of 2-2.5 would appear to functionally close the gap on that 0.005% margin of error (the current 0.01% – missing by 50 meters – divided by 2 equals 0.005%) required, albeit by modifying the recovery vessel instead of optimizing the fairings’ hardware and software.
TL;DR: @SpaceX's fairing recovery engineers/techs have achieved a margin of error of like 0.01% when they actually need ~0.005% to reliably catch fairings in Mr Steven's net. Success is imminent 😀 https://t.co/MfPdzdBkyO
— Eric Ralph (@13ericralph31) June 1, 2018
Put more simply, a net with four times the area would roughly halve the accuracy required from each fairing half for reliable recovery. Compared with the original (left) above, Reddit user Pipinpadiloxacopolis followed Musk’s rough estimation and did a rough Photoshop (right) of the fairing recovery vessel’s current arms, expanding it by 2X in each direction to arrive at a quadrupled area. Although I would argue that Mr Steven’s forward arms are unlikely to ever move beyond their current end-point around 10 meters behind the vessel’s crew cabin and cockpit, /u/Pipin’s estimate is probably a decent prediction for the upgraded vessel’s most likely appearance.
What’s less clear is whether the depth of the net will increase alongside the length and width, nor whether the already massive arms will have to rely on some sort of retraction/pivot mechanism to allow Mr Steven to safely maneuver within Port of Los Angeles waters. Regardless of the solution that SpaceX expertise arrives at, the already eclectic recovery vessel is all but guaranteed to look even more absurd and awesome than it already does. With any luck, the net expansion may allow SpaceX to finally achieve their first successful ‘catch’ of a Falcon fairing, ending the need for mass-storage of unreusable fairing halves grabbed off of the ocean surface.
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- Mr Steven and drone ship Just Read The Instructions captured at their berths on June 5th. JRTI also appears to be preparing for a return to action with Iridium-7. (Pauline Acalin)
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- Even SpaceXers deserve a break. (Pauline Acalin)
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- Mr Steven slips between massive container ship canyons on the final leg of its return. (Chuck Bennett, Instagram @chuckbennett)
Stay tuned, as Teslarati photographer Pauline Acalin will be tracking modifications made to Mr Steven closely over the next several weeks. As of now, the vessel will return to the Pacific Ocean for another fairing catch attempt sometime in the second or third week of July. We’ll find out soon whether Musk’s mentioned upgrades can be realized before then.
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Investor's Corner
SpaceX and Nvidia team up on Musk’s orbital AI bet
SpaceX revealed a new Nvidia satellite partnership, then Musk pledged an exclusive Nvidia hardware commitment.
SpaceX and Nvidia are now working together on the hardware that will power Musk’s orbital data center ambitions. SpaceX announced on X on Tuesday that it is partnering with Nvidia to design the compute payload for Starmind AI1, the first satellite in a planned constellation built to run AI workloads directly in orbit. Each Starmind satellite will carry Nvidia’s Rubin GPUs and Vera CPUs, according to the post, which included renderings of the payload design.
The announcement landed hours before SpaceX’s first earnings call as a public company, where Musk went further, saying the company has committed to building its AI infrastructure exclusively on Nvidia hardware. “We think the Vera Rubin architecture is the best architecture. We think it’s the best AI computer, and we greatly value our close cooperation and partnership on many levels with Nvidia,” Musk told investors on the call,. “So we’re exclusive to Nvidia.”
Musk said SpaceX plans to deploy Nvidia’s Vera Rubin NVL72 rackscale system, codenamed Kyber, both on the ground and in space. He set a target of 2 gigawatts of compute capacity online by the end of this year, scaling to roughly 10 gigawatts by the end of 2027.
SpaceX’s newest Starmind will make earth data centers obsolete
Starmind has been in development since Musk confirmed the name in June, following an xAI trademark filing that tipped off the project before SpaceX made it official. The idea is massive in scope and instead of moving data down to ground based servers, satellites equipped with onboard processors and large solar arrays would compute AI workloads in orbit and beam results back to Earth. SpaceX has already filed with the FCC for a constellation of up to one million satellites to support the effort, citing constant solar power and the absence of zoning restrictions as advantages over terrestrial data centers.
The Nvidia exclusivity marks a shift in tone from just two weeks ago, when Musk was busy knocking down a report that SpaceX had ordered $52 billion worth of Nvidia GPUs through Foxconn, calling it fake news at the time. The dollar figure in that rumor may have been wrong, but the underlying direction seems correct. SpaceX’s AI division already leases Colossus compute capacity to Anthropic and Google, and Tuesday’s earnings report showed AI revenue climbing sharply as those deals ramp up.
Nvidia shares rose roughly 3% in Tuesday trading on the news, while SpaceX stock climbed nearly 9% during the day before giving back gains after hours as investors digested the earnings report’s capital spending figures.
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SpaceX (NASDAQ: SPCX) reported a beat in revenues and EBITDA in its first earnings call report while also minimizing losses as its business continues to gain momentum.
After its IPO in July, SpaceX saw some tough losses on Wall Street due to a major selloff after a delay in its 13th Starship test flight. The ship launched later that week and completed what was arguably the most successful IFT operation in the Starship program’s history.
Nevertheless, the company is continuing on and reported some encouraging financials while also promoting what appears to be a robust outlook moving forward in its Space, AI, and Connectivity divisions.
SpaceX to report first-ever earnings today: here’s what to expect
Earnings Results
- Revenues: $7.8 billion reported vs. $6.7 billion expected
- Adjusted EBITDA: $3.5 billion vs. $2 billion expected
- Net loss of $541 million, an improvement of $467 million from net loss of $1.0 billion
Additionally, CFO Bret Johnsen had these comments:
“2026 has been a momentous year so far, and the second quarter demonstrated the true power of SpaceX. Revenue growth accelerated across all our business segments and we delivered strong operating leverage, with significant margin expansion led by our new AI compute agreements. Our unparalleled leadership in launch, Starlink subscriber growth, new enterprise and government partnerships, and best-in-class AI infrastructure underscore our ability to drive meaningful scale and deliver attractive returns. As a newly public company, we are delighted to welcome our broad base of shareholders and bondholders. We ended the second quarter with $100 billion of cash, cash equivalents, and marketable securities, and $47.5 billion in backlog. This financial strength gives us substantial capacity to invest in Starship, Starlink Broadband and Mobile satellites, and our AI platform, while maintaining a disciplined long-term capital allocation framework.”
Space Business Highlights
SpaceX shared some of its biggest Space Business Highlights for Q2:
- Space revenues grew 55% sequentially and 29% year-over-year to $962 million, driven by a higher number of large customer launches and a favorable customer shift compared to the prior year
- Total costs and expenses for the Space segment were up by $389 million year-over-year, as we continued to accelerate R&D investments in our Starship program, which we believe will reduce the cost to orbit by 99% or more relative to the historical average, and unlock significant revenue potential across all business segments
- Leading launch provider for the world with 78 launches and 1,041 metric tons of mass to orbit deployed over the six months ended June 30, 2026, primarily allocated to Connectivity for the deployment of our Starlink constellation
- Starship V3 development continued to advance towards full and rapid reusability:
- Completed Starship V3’s first suborbital mission in May, Flight 12, which achieved a successful lift off from our new Starbase pad, a precision landing of Starship’s upper stage, and deployment of modified V2 Starlink satellites
- Subsequent to the second quarter, completed Starship Flight 13 in July, which achieved all flight objectives including deploying 20 production V3 satellites, demonstrating in-space relight of a Raptor engine, and executing the softest ever splashdown of Starship, providing critical views of an intact heatshield
SpaceX will report its earnings today at 4:30 P.M. EDT.
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Elon Musk issued a second pointed warning to SpaceX short sellers on Tuesday, just hours before the company was set to release its first quarterly earnings as a publicly traded firm. Responding to a report highlighting elevated short interest, Musk wrote on X: “I try to warn them, but they just double down …”
The comment came as data from S3 Partners showed roughly 95 percent of available SPCX shares to borrow were on loan, translating to about 34 percent short interest as a percentage of the float. The stock has traded under pressure since its record-breaking IPO in June 2026, declining significantly from early peaks.
I try to warn them, but they just double down … 🤷♂️
— Elon Musk (@elonmusk) August 4, 2026
This marks the second such message from Musk in under three weeks.
On July 17, amid post-IPO volatility, he stated: “The survival probability of firms who maintain a significant short position in SpaceX over time is very low.” At that time, SPCX had fallen roughly 30 percent from its peak above a $2.6 trillion valuation, with short sellers reportedly realizing gains of about $8.7 billion.
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Musk’s warning aligned with optimistic analyses projecting that Starship-driven cost reductions could enable a multi-trillion-dollar space economy through applications such as orbital solar power, asteroid mining, data centers, and Mars-related projects, positioning SpaceX as critical infrastructure.
SpaceX is scheduled to report second-quarter results after the market close later today, followed by a webcast. Analysts anticipate revenue near $6.9 billion, reflecting growth in Starlink, launch services, and AI-related segments. The earnings release precedes a major lockup expiration on August 6 that could free hundreds of millions of insider shares.
Musk has a long track record of confronting short sellers, particularly regarding Tesla, where he has argued that persistent bearish positions underestimate transformative technologies. Critics view his optimism as overly ambitious given near-term stock fluctuations, while supporters see temporary dips as opportunities in a longer-term expansion of the space economy.
As SpaceX opens its books to public scrutiny for the first time, the high short interest and Musk’s repeated cautions set the stage for heightened market attention on the results and management’s commentary.
SpaceX and Nvidia team up on Musk’s orbital AI bet
SpaceX reports beat in first earnings while minimizing losses
