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SpaceX’s recovery boat Mr Steven has a new net to catch Falcon 9 fairings
While photographer Pauline Acalin just barely missed a toasty Cargo Dragon returning to roost earlier that morning, a routine checkup on SpaceX’s Port of Los Angeles facilities revealed a hefty new net installed on the recovery boat Mr. Steven, as well as noteworthy activity at the huge tent currently harboring the rocket company’s BFR tooling.
After completing a thrillingly routine International Space Station resupply mission (SpaceX’s fourteenth) and spending a month on orbit, the commercial spacecraft reentered Earth’s atmosphere at a respectable 7.5 km/s before splashing down in the Pacific Ocean for the second time. Currently, SpaceX’s Dragon capsule is the only operational spacecraft capable of returning an appreciable amount of cargo from the ISS, and Capsule 110 (1 referring to Dragon 1, 10 referring to the tenth integrated spacecraft) returned even more cargo (nearly 2 mT) than it delivered to the ISS, including the space robot Robonaut 2, various completed experiments, and expired hardware. As of CRS-12, SpaceX has effectively ended production of new Cargo Dragon capsules, and has since flown two additional missions using refurbished capsules, perhaps paving the way for the first-ever triple reuse of an orbital commercial spacecraft. CRS-15, Dragon’s next flight, is currently scheduled for early July.
Here’s the SpaceX Dragon capsule that came back to Earth over the weekend being unloaded in San Pedro’s Outer Harbor this morning. Photo by Chuck Bennett. pic.twitter.com/GBypff51MW
— Megan Barnes (@meg_barnes) May 7, 2018
Although Pauline missed the battle-scarred capsule’s second return to Port of San Pedro, her travels were not for naught. Berthed at SpaceX’s leased dock space, SpaceX recovery technicians appeared to have installed and rigged a brand new net aboard fairing recovery vessel Mr. Steven in the several days between her visits. While he has yet to catch a fairing out of the sky (the ultimate goal of the program), the vessel has returned to land two of three largely intact fairing halves, the only payload fairings to have ever been recovered in one piece after an operational rocket launch. The first successful recovery followed PAZ, and although – per sources familiar with the matter – that particular half experienced catastrophic cracking while being hoisted from the ocean onto Mr. Steven’s deck, it appears that the second intact half (following Iridium-5) did not meet the same fate. It’s probable that – assuming Musk does mean to conduct helicopter drop tests – the structurally-intact Iridium-5 half is thus a prime candidate for air drop tests to perfect the system’s accuracy, as fairings immersed in saltwater are not candidates for operational reuse.
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- It’s good to first remember just how huge Falcon payload fairings are. (NASA, 2018)
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- Soon after parafoil deployment, a payload fairing is captured gliding gently ahead of a soft ocean landing. (Elon Musk)
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- PAZ’s recovered fairing half sadly cracked beyond repair while being hauled aboard Mr Steven. (Pauline Acalin)
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- The Iridium-5 half, however, is not believed to have suffered any significant structural damage during recovery ops. (Pauline Acalin)
Meanwhile, several thousand miles to the East, SpaceX nailed their first intact recovery of a fairing half in the Atlantic following the historic and successful launch of NASA’s TESS, an exoplanet observatory that will more than fill the boots soon to be left empty by forlorn Kepler. Likely to discover thousands upon thousands more planets orbiting other stars, it is perhaps fitting that the mission also featured a successful Falcon 9 booster recovery and the first-ever (more or less…) intact recovery of both halves of a payload fairing. One half was absolutely shredded, but USLaunchReport reported that the half not caught on video was in comparatively perfect condition.
Returning to Mr. Steven’s visibly-upgraded catcher’s mitt, the newly-installed net is by all appearances magnitudes larger, heavier, and stronger than the minimal mesh specimen it is clearly replacing. Given the fact that SpaceX thus far has self-admittedly failed to catch a gliding fairing half in the net, it seems unlikely that such a drastic upgrade would be necessitated by any field-testing that occurred since Mr. Steven’s debut late last year. Rather, a significantly more capable net seems to more readily fit alongside CEO Elon Musk’s tweet reveal three weeks prior that SpaceX would attempt to close the final major loop of Falcon reusability by recovering the orbital upper stage (S2). Estimated to weigh approximately 4000 kilograms empty, the upper stage is a minimum of four times heavier than Falcon 9’s payload fairing halves, Mr Steven’s current meal of choice. Judging from the new net’s beefy rigging, broader bars, and general appearance, one could safely argue that it looks at least several times stronger than the mesh net before it. One could also argue that the absolutely massive metal arms installed on Mr. Steven are far larger than what might be required to catch the extremely low mass-to-area ratio payload fairings, with structural heft and bulky netting more reminiscent of safety nets present on naval vessels that are designed to catch aircraft and helicopters weighing five metric tons or more.
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- Although both halves clearly attempted soft-landings with parafoils (evidenced by the black metal bars sticking up here), only one of them made it back intact. (USLaunchReport)
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- The half not pictured in these photos was reportedly more or less intact, successfully landing in the ocean after launching NASA’s TESS. (USLaunchReport)
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- Mr Steven is currently undergoing arm surgery (upgrades) at SpaceX’s future BFR factory lot, known as Berth 240. (Elon Musk)
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- Mr Steven and his fancy net 2.0, caught on May 7. Bright yellow…for style. (Pauline Acalin)
Currently scheduled to liftoff around 4:12 p.m. EST May 10 from SpaceX’s LC-39A Florida launch pad, the company’s next mission will send Bangladesh’s first communications satellite – Bangabandhu-1 – to a geostationary transfer orbit. Equally significant, it will hopefully become the successful inaugural flight of Falcon 9 Block 5, a highly reliable and reusable collection of upgrades to the workhorse SpaceX rocket. Soon after, SpaceX will likely aim to complete two additional launches in late May, one from California’s Vandenberg Air Force Base (Iridium-6/GRACE-FO) and the other from LC-40 in Cape Canaveral (SES-12). While the latter two launches – per their flight-proven boosters – will be expended, the first Block 5 booster (B1046) will attempt to land aboard drone ship Of Course I Still Love You, already on station in the Atlantic.
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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, Mississippi.
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
