News
SpaceX gets first taste of coronavirus epidemic's consequences
SpaceX’s next scheduled rocket launch has been indefinitely delayed after Argentina – responsible for the SAOCOM 1B satellite payload – put strict travel restrictions in place, the first sign of the coronavirus epidemic’s consequences for the company.
Previously expected to launch as early as March 30th, the ~3000-kg (6600 lb) SAOCOM 1B radar satellite departed its Bariloche production facilities and arrived at Cape Canaveral around February 23rd, around the same time pandemic impacts began to be felt outside of China. Now likely sitting in a SpaceX payload processing facility at Cape Canaveral Air Force Station (CCAFS), it appears that SAOCOM 1B will have to wait for the foreseeable future before teams from Argentina and other countries are able to access the spacecraft and prepare it for launch.
While the delay is unfortunate, it hardly comes as a surprise at the same time dozens of countries around the world are considering – or already enacting – extreme countermeasures to mitigate the damage that will be caused by the COVID-19 pandemic. Thankfully, once Argentinian space agency (CONAE) employees are able to prepare SAOCOM 1B for flight, the mission is still set to make history, marking the first time a rocket launches on a polar trajectory from the United States’ East Coast in more than a half-century. In the meantime, SpaceX – while not deriving any income – also has ways of potentially taking advantage of a bad situation and exploiting unexpected downtime as a result of customer delays.
In October 2018, SpaceX successfully launched SAOCOM 1B’s predecessor – SAOCOM 1A – from its Vandenberg Air Force Base (VAFB) facilities, using a West Coast landing pad (LZ-4) for the first time ever. The spacecraft has successfully operated in space ever since, serving scientists, farmers, and more with high-quality satellite radar and Earth observation data.
Planned as a two-satellite constellation, CONAE spent another 15 or so months manufacturing and assembling the sister spacecraft, reaching the integration completion milestone in December 2019. After completing a few additional mechanical and electrical tests to verify the satellite’s health in January and February 2020, SAOCOM 1B was loaded aboard a Russian Antonov cargo plane and flown directly to Florida’s Kennedy Space Center (KSC), landing at the same runway NASA’s Space Shuttle once used.
Shortly after the growing global pandemic began to bare its teeth, the Argentinian government made the decision to almost completely ban international travel for the time being, while citizens now face heightened restrictions in a bid to legally enforce social distancing precautions. A scientific satellite launch has unsurprisingly not won exemption rights, meaning that it’s now all but impossible for the Argentinian space agency to send people and supplies back and forth from Florida – a necessity for something as complex as a satellite launch campaign.
As such, SpaceX’s SAOCOM 1B launch will be delayed until Argentina is able to loosen domestic and international travel restrictions – the timeline for which is anyone’s guess.
Bittersweet lemonade
Prior to the commercial mission’s indefinite delay, SpaceX’s seventh dedicated Starlink and sixth v1.0 satellite launch – Starlink L7 or Starlink V1 L6 – was expected no earlier than (NET) April 2020, sometime shortly after SAOCOM 1B’s NET March 30th launch. However, CEO Elon Musk and a second executive recently revealed that SpaceX is building Starlink satellites faster than it can launch them – churning out as many as six spacecraft in a single day.
Previously proposed on Teslarati, SpaceX may thus have a substantial backlog – ranging from one to several launches worth – of satellites that are ready for flight and either waiting for transport or already in Florida. In 2020, SpaceX has completed four 60-satellite Starlink launches in ~11 weeks, averaging a bit less than three weeks per mission. Even if SpaceX’s Starlink factory only averages 4-5 satellites per day each month, that would mean that the company is still building at least 20-40 extra satellites for each batch of 60 it launches.
In other words, if a separate Falcon 9 booster, upper stage, and payload fairing are already prepared for launch or SAOCOM 1B customer CONAE is willing to let SpaceX use its rocket (much less likely), the company could feasibly replace the mission on its manifest with an internal Starlink launch. This would reduce the amount of time the company’s workforce is listless as a result of the pandemic – a move that wouldn’t save money, per se, but would more efficiently distribute resources that will otherwise be wasted. For now, though, we – and the rest of the world – will have to wait and see.
Tesla stock (NASDAQ: TSLA) endured one of its sharpest single-day declines in years on July 23, tumbling approximately 14.5 percent and closing near $320 after opening the session around $374. The drop erased more than $140 billion in market value amid heavy trading volume and left the shares at multi-week lows.
The sell-off followed the company’s second-quarter 2026 results, released the previous evening. Tesla reported record revenue of $28.2 billion, up 26 percent year over year, driven by a Q2-record 480,126 vehicle deliveries. Energy storage deployments also rose strongly.
Tesla (TSLA) Q2 2026 earnings results: miss on EPS, beat on revenue
Yet profitability disappointed sharply. Operating income fell 57 percent to $398 million, compressing the operating margin to just 1.4 percent. Non-GAAP earnings per share came in at $0.33, well below the roughly $0.53 analysts had expected. Free cash flow turned negative by $1.1 billion as capital expenditures surged 142 percent to $5.8 billion, largely tied to accelerated spending on artificial intelligence, robotics, and autonomous systems.
The losses on capex were expected, as Tesla said it would be spending heavily in 2026.
Investors also reacted to lingering uncertainty surrounding key product timelines. During the Earnings Call, management reiterated ambitions for Robotaxi deployment and the Optimus humanoid robot, but offered limited new concrete milestones, renewing questions about execution pace that have long accompanied Tesla’s ambitious roadmap.
The magnitude of the decline places it among Tesla’s more severe one-day percentage losses since its 2010 initial public offering. Historically, the two largest single-day drops (split-adjusted) remain September 8, 2020, when shares fell 21.1 percent amid broader market volatility and valuation concerns, and January 13, 2012, with a 19.3 percent plunge during the company’s early growth struggles.
Other notable declines include an 18.6 percent drop on March 16, 2020, at the onset of pandemic-related market turmoil. Thursday’s move ranks roughly ninth on the all-time list but stands out as the steepest in more than a year.
Despite the short-term pain, Tesla’s long-term trajectory has repeatedly recovered from such volatility. The latest results underscore both the strength of its core automotive and energy businesses and the near-term costs of heavy investment in next-generation technologies.
Elon Musk clapped back at France’s decision to withhold the approval for Tesla’s Full Self-Driving (FSD) Supervised system, projecting a clear and blunt message to French Transport Minister Phillippe Tabarot, after he publicly rejected the technology in its current form.
Tabarot outlines several concerns with Tesla Full Self-Driving in a detailed video statement, where he said, “The safety trade-offs are not yet sufficient to authorize it as it currently stands,” he said. He emphasized that FSD is not a true self-driving system and that the driver remains fully responsible.
Key issues Tabarot also brought up included allowing speeding when surrounding traffic exceeds limits and what he believes are insufficient guarantees of driver attention during complex urban maneuvers such as lane changes, intersections, and roundabouts.
Delaying the approval of FSD in France will cost lives
— Elon Musk (@elonmusk) July 22, 2026
While acknowledging technological progress and France’s support for autonomous innovation, Tabarot stressed that deployment must prioritize road safety. He noted ongoing technical discussions with Tesla, the Netherlands, and other European partners, with further ecosystem meetings planned for the fall.
Musk’s rebuke highlights the human cost of regulatory caution. Tesla’s latest safety reports provide compelling data supporting accelerated adoption. In the most recent 12-month period, vehicles using FSD (Supervised) recorded one major collision per approximately 5.1 million miles driven, dramatically better than the U.S. national average of one crash per 698,000 miles.
Even Tesla vehicles driven manually with active safety features outperform the average by a wide margin. These figures come from billions of real-world miles of telemetry, showing FSD vehicles involved in far fewer incidents than both manual Teslas and the broader U.S. fleet.
Critics argue Tesla’s comparisons require careful scrutiny regarding reporting thresholds and fleet demographics, yet the data consistently positions FSD as a potential lifesaver. With road fatalities remaining a leading cause of death worldwide, Musk contends that proven safer technology should not face prolonged bureaucratic hurdles.
France’s measured approach reflects the broader European regulatory caution, which many, especially Musk, have been critical of in the past. However, as autonomous systems from Tesla and competitors like Waymo demonstrate superior safety in independent studies, pressure is mounting for harmonized approvals.
Musk’s warning carries the belief that every month of delay may equate to avoidable tragedies on European roads.
In a striking revelation that underscores the lucrative crossover between Big Tech and space exploration, Alphabet Inc., Google’s parent company, disclosed a massive $94.1 billion equity stake in SpaceX following the rocket company’s blockbuster initial public offering earlier this year.
The disclosure came in Alphabet’s quarterly filing, marking the first time the long-held private investment has been publicly valued at market prices. Google was an early backer, investing alongside Fidelity in 2015 with roughly $500-900 million at a time when SpaceX was valued around $12 billion.
That bet has delivered extraordinary returns, roughly a hundredfold, transforming a strategic play on satellite internet and launch capabilities into one of Alphabet’s largest assets.
Google, $GOOGL, has said they hold $94 billion in SpaceX, $SPCX, shares after IPO.
— unusual_whales (@unusual_whales) July 23, 2026
Of the total holding, approximately $80 billion remains subject to short-term post-IPO lockup restrictions, preventing near-term sales. An additional $14.1 billion faces longer-term restrictions, extending into the third quarter of 2027. This structure limits immediate liquidity but protects against market volatility as SpaceX transitions into public trading.
The SpaceX position contributed significantly to gains in Alphabet’s broader investment portfolio, which also includes a major stake in AI leader Anthropic. Combined, these holdings helped drive nearly $100 billion in investment gains during the second quarter, providing a substantial boost to net income amid ongoing AI spending pressures.
Analysts view the disclosure as validation of Alphabet’s venture strategy beyond its core search and cloud businesses. The investment aligns with deeper ties, including reported multi-billion-dollar deals for AI computing capacity on SpaceX infrastructure. As SpaceX advances Starship flights, Starlink expansion, and ambitious Mars goals under Elon Musk, Google’s stake positions it to benefit from the commercialization of space.
For Alphabet, the windfall highlights how patient, forward-looking bets in transformative sectors can yield outsized rewards. While lockups temper short-term impact, the holding cements SpaceX as a cornerstone of Alphabet’s diversified portfolio in an era where aerospace, AI, and connectivity increasingly intersect. Investors will watch closely as restrictions lift and SpaceX’s public performance unfolds.
Tesla stock tumbles after earnings, one of its sharpest single-day declines
Elon Musk is not happy about this Tesla Full Self-Driving approval delay
