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SpaceX returns intact fairing half on clawboat in post-launch surprise
Despite a statement from SpaceX CEO Elon Musk that the Iridium-5 mission’s fairing recovery attempt had failed due to a twisted parafoil, Teslarati captured photos of clawboat Mr Steven arriving in the Port of San Pedro early Saturday morning with an apparently intact fairing half.
Not to be confused with the first successfully recovered fairing that returned to land in late February, this half is undoubtedly fresh from Iridium-5’s Friday morning launch. The $2.5 million, carbon composite aluminum fairing half recovered during SpaceX’s PAZ mission on February 22 is currently being stored and scrapped at SpaceX’s brand new port real estate – Berth 240, or the same location that was selected as the probable location for SpaceX’s first BFR manufacturing facility.
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- The Iridium-5 half, however, is not believed to have suffered any significant structural damage during recovery ops. (Pauline Acalin)
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- Falcon 9 1041 rises above a sea of fog for one last mission to orbit. Half of its fairing made a surprise appearance in port on Saturday. (Pauline Acalin)
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- An unmistakable Falcon 9 fairing half seen aboard the vessel Mr Steven on Saturday morning. (Pauline Acalin)
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- Teslarati photographer Pauline Acalin made her way to a foggy Port of San Pedro early Saturday morning to welcome Mr Steven home. (Pauline Acalin)
Compared to Musk’s previous comments during the first intact fairing recovery in late February, it would seem that Iridium-5’s fairing was all but doomed when it “impacted [the] water at high speed,” and the majority of fans appeared to have concluded as much. Following PAZ, Musk tweeted that the Mr Steven had “missed by a few hundred meters, but fairing landed intact in water” – as an incredibly optimized and lightweight structure, a fairing half would likely have to land very gently to avoid breaking into pieces. That Mr Steven’s crew was able to bring the Iridium-5 half aboard all but guarantees that it was floating intact on the ocean surface after touching down.
GPS guided parafoil twisted, so fairing impacted water at high speed. Air wake from fairing messing w parafoil steering. Doing helo drop tests in next few weeks to solve.
— Elon Musk (@elonmusk) March 30, 2018
This does not necessarily contradict Musk’s diagnosis of a twisted parafoil, assuming he was referring to the lines that connect the fairing to the foil – paragliders frequently suffer tangles and twists in their lines, an event that typically warps the parafoil’s structure, thus lowering the amount of lift it can produce as a wing. This is an inevitable risk of what is basically a self-inflating wing, and failures of this sort are known to kill or injure paragliders at low altitudes and can also lead to uncontrolled spinning (although that is very unlikely to occur with a 1000kg payload).
A NASA experiment in the late 90s examined the use of a parafoil to enable gentle, guided landings of an orbital escape pod – the experiment was quite successful. (NASA)
Ultimately, GPS-guided parafoils have been done fairly successfully and many times over during the past two or so decades. For the most part,the problems preventing SpaceX from recovering fairings in Mr Steven’s net have been almost entirely solved: the fact that two fairing halves have been recovered intact after their last two Western launches confirm as much. SpaceX engineers have somehow found a way to enable a highly flexible, lightweight, and aerodynamically awkward lifting body to survive a journey from heights of 110+ km and speeds of more than 2250 meters per second.
SpaceX’s fairings may look unassuming dressed in their subtle soot and simple curved lines, but – as SpaceX has intoned in the past – if landing massive Falcon 9 boosters after launch is akin to “launching a pencil over the Empire State building and having it land on a shoebox on the other side…during a wind storm,” recovering the relatively minuscule and light fairings can be fairly compared to launching a paper bowl over two stacked Empire State Buildings in a tornado and catching it with one hand behind your back on the opposite side – all without ripping, folding, or denting it.
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- It may look unassuming, but that fairing half could swallow an entire school bus and by all means should not be in one piece. (Fairing from PAZ, photo by Elon Musk)
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- Falcon 9 B1041.2 seen before launching Iridium-5. (Pauline Acalin)
SpaceX is 99% of the way to successful and routine fairing recovery and reuse and the final 1% is all about testing and subtle refinement. Future fairing recovery attempts may even be streamed in real time on SpaceX’s webcasts, according to Musk.
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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
