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SpaceX starts stacking Starship’s first orbital-class Super Heavy booster
By all appearances, SpaceX has begun the process of stacking what could become the first Super Heavy booster capable of supporting orbital Starship test flights.
Known as booster number 3 (BN3), numerous sections of the 70-meter-tall (230 ft) steel rocket have been spotted at SpaceX’s Boca Chica, Texas factory over the last six or so weeks – adding up to a substantial portion of what is now expected to be the first flightworthy Super Heavy. Earlier this year, SpaceX stacked Super Heavy BN1 to its full height but late design changes effectively rendered the prototype largely irrelevant and turned it into more of a manufacturing pathfinder and source of practice than anything else.
As a result, BN1 never even left the high bay it was built in before SpaceX workers cut the booster into scrap. As of May, while a handful of parts for booster number 2 have been spotted, signs indicate that BN2 will be turned into a small test tank to qualify Super Heavy’s complex and unproven thrust dome and engine section.
That leaves Super Heavy BN3. According to NASASpaceflight.com, SpaceX has nominally assigned booster BN3 to support Starship SN20 on its inaugural space launch attempt. Just last week, SpaceX filed an application with the FCC for permission to communicate with Starship and Super Heavy during that “orbital test flight” – paperwork that included a six-month launch window scheduled to open no earlier than June 20th.
If approved by the FCC and – far more importantly – the FAA, Starship’s first “orbital test flight” will circumnavigate three-quarters of the world in approximately 90 minutes, launching from Boca Chica and ending – if all goes well – with Starship SN20 gently splashing down near Kauai, Hawai’i. From the sparse documentation SpaceX included in the public application, it’s ambiguous if there will be an attempt to recover Super Heavy booster BN3 or if the test flight will actually be orbital, given that Starship SN20 wont complete a full orbit.
Technically speaking, although a Starship capable of safely launching from Texas to Hawai’i is almost unequivocally capable of reaching orbit, the safest possible “orbital” flight test for such a massive spacecraft would stop just shy of orbit. A guaranteed free-return reentry would make it almost impossible for Starship to reach orbit, fail to deorbit after its first ~90 minutes in space, and end up posing a risk to populated areas – like, say, the now-infamous boosters of China’s Long March 5B rocket. Regardless, it’s clear that the specifics of Starship’s first spaceflight attempt are still very much up in the air and liable to change over the next few weeks.
What isn’t up in the air is the fact that SpaceX will need to all but fully assemble and test Super Heavy booster BN3 and Starship SN20 before any potential space shot. Along those lines, SpaceX still has a huge amount of work to do. Per Twitter user Brendan Lewis’ accounting, SpaceX has at least six BN3 sections – amounting to 22 rings and two of three tank domes – either completed or awaiting integration. The process of stacking BN3 began sometime in the last 7-10 days when SpaceX joined two four-ring sections – including the booster’s common dome, likely pictured above.
SpaceX has mostly completed BN3’s engine section, including a thrust dome with plumbing cutouts for a full 28 Raptor engines. Most recently, what looks like a Super Heavy fuel manifold appeared in Boca Chica. That manifold will attach to the end of a supersized Super Heavy transfer tube – also spotted in work – used to route methane through the liquid oxygen tank to fuel its Raptor engines. Fueling 28 large, high-performance Raptors is no mean feat and requires a rat’s nest of plumbing to feed them more than 15 metric tons (~30,000 lb) of propellant every second at full throttle.
Put simply, a majority of Super Heavy booster BN3’s hardware appears to be ready or almost ready for integration. The eight rings now stacked represent approximately 20% of the rocket’s full height, leaving another 30 or so rings – 54m (~180 ft) – to go. Given how long BN1 assembly took SpaceX, the company has its work cut out for it to fully integrate BN3 by June 20th, and the first operational Super Heavy prototype will almost certainly need to complete several major tests before being cleared for flight. As such, an inaugural space launch attempt in June or July is wildly implausible, but it’s far from out of the question that Starship and Super Heavy could be ready for their first “orbital test flight” before summer turns to fall.
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SpaceX stock did the opposite of what most of Wall Street expected this week, when the day designed to be its most dangerous turned into a rally, and the rally kept going.
Thursday marked the first major lockup expiration since SpaceX’s June IPO, making roughly 911.5 million insider held shares eligible to trade for the first time, more than doubling the company’s public float. Analysts and short sellers had spent weeks bracing for a flood of selling, especially after the stock fell 13 percent following its first earnings report as a public company on Tuesday. Instead, shares rose 6.1 percent Thursday to close at $114.92, and by Friday they were trading near $129, up more than another 12 percent on the day.
SpaceX shorts get warned by Musk ally, echoing Tesla’s early struggles
The setup made the outcome notable. Short interest had climbed to roughly 34 percent of the float heading into earnings, among the highest of any large cap stock, with about 95 percent of available shares to borrow already on loan. CEO Elon Musk warned short sellers twice in the weeks before the lockup, writing on X that “the survival probability of firms who maintain a significant short position in SpaceX over time is very low,” then following up on the morning of earnings with “I try to warn them, but they just double down.”
When the newly unlocked shares hit the market and the selloff never showed up, some of that short position appears to have started unwinding. TipRanks reported that options activity shifted toward bullish strategies like put selling and risk reversals following the rally, with roughly $600 million in options premium trading Thursday alone. Retail buyers also stepped in during the earnings dip, according to Vanda Research.
The fundamentals behind the stock have not changed much in a week. SpaceX’s revenue nearly doubled year over year to $7.8 billion, with Starlink subscribers doubling to 12 million and the company’s AI segment growing 247 percent. What spooked investors on Tuesday was the spending side. Capital expenditures jumped to more than $18 billion for the quarter, up from $2.8 billion a year earlier, with AI investment alone rising from $749 million to $15.8 billion. Wall Street remains split on whether that spending is building infrastructure SpaceX needs or outrunning what the business can currently support, a debate Teslarati has tracked since shares first came under pressure.
None of that resolves the bigger question hanging over the stock. Thursday’s release was only the first of nine staggered lockup tranches, with roughly $800 billion worth of additional shares scheduled to become eligible through October, and Musk’s own stake stays locked until next June. If this week is any indication, the market is treating that supply as something it can absorb rather than something to fear, at least for now.
News
The Boring Company’s newest Vegas Station has a permit quietly waiting behind it
Sahara Las Vegas opened a new Vegas Loop station, joining an exclusive two resort transit club.
Sahara Las Vegas opened a new Vegas Loop station Thursday, giving The Boring Company’s underground transit system its northernmost stop yet on the Strip. The station sits at Sahara’s Paradise Road entrance, on the southeast corner of Las Vegas Boulevard and Sahara Avenue, and connects riders to the Las Vegas Convention Center, other Strip resorts on the network and, eventually, Harry Reid International Airport.
The addition makes Sahara the second resort, after Fontainebleau opened its own station in January, to get a stop built at street level rather than tucked into the property itself. Sahara now joins Westgate as the only two Strip resorts offering both a Vegas Loop station and a stop on the Las Vegas Monorail, giving guests two separate ways to get around without leaving the property.
The Boring Company just doubled its tunneling power in Nashville
The bigger news buried in Thursday’s announcement is what comes next. Boring Company has already secured its first permit to tunnel north of Sahara Avenue, extending the network beyond where it currently ends, even though permits to push the Loop toward downtown Las Vegas still haven’t been granted. Crews are also working on a two mile dual tunnel line running from Westgate to a planned station at 4744 Paradise Road, just north of Tropicana Avenue, that Las Vegas Convention and Visitors Authority CEO Steve Hill has said the company hopes to open in time for November’s Las Vegas Grand Prix.
Ridership has grown alongside the buildout. The Loop moved roughly 82,000 passengers during CONEXPO in early March, a total the company highlighted on its own X account at the time, and the system has now carried more than 4 million passengers through 11 open stations since it began running in 2021. The airport connector tunnels, meant to give the Loop a direct link to Harry Reid, have slipped past their original first quarter target and remain under construction, with Boring Company director Mike Baier saying that a full opening is still a few months out.
For Sahara, the calculation is straightforward. Convention traffic drives a large share of Loop ridership, and a station at the property’s front door gives conventiongoers one more reason to book rooms on the Strip’s north end instead of closer to the convention center itself.
Elon Musk
Tesla’s mysterious Robovan makes a sneak peek with Optimus in Terafab video
Elon Musk shared a new Terafab video showing Optimus, Robovans, and a stunningly futuristic campus.
Elon Musk posted a new video of Terafab on X Thursday morning, and the most eye-catching details in it were not the building itself, but two products still awaiting production: Optimus and the Robovan.
The concept render, credited to SpaceX, shows Optimus robots working the grounds of the roughly 2.5-mile-long facility planned for the Gibbons Creek site in Grimes County, while a Robovan glides along an elevated roadway cutting through the building itself, sharing the frame with a Tesla Semi and a Cybercab.
Robovan is the boxy, driverless people and cargo mover Musk unveiled alongside Cybercab at Tesla’s “We, Robot” event in October 2024. He pitched it as a way to move up to 20 passengers at once, or handle freight instead, at a target cost he claimed could fall under a dollar a mile, with no steering wheel or pedals, the same layout as Cybercab. Nearly two years later, Robovan still has no confirmed production timeline and has not shown up in any factory footage, which makes Thursday’s render one of the only recent looks at the vehicle in any form.
Terafab Texas will be the largest and most valuable building on Earth by far.
And it will be stunningly beautiful. pic.twitter.com/4NweOqTL7y
— Elon Musk (@elonmusk) August 6, 2026
Optimus has moved further along. Tesla began converting Fremont’s old Model S and Model X assembly line into a Gen 3 Optimus production line earlier this year, and Musk visited the site on July 1 to mark the changeover. A second, larger Optimus plant is under construction at Giga Texas, targeting volume production in summer 2027 and eventual capacity of 10 million units a year. Tesla AI lead Ashok Elluswamy said this month the robot has “big shoes to fill” in replacing the S and X line, while Musk has repeatedly called Optimus the company’s biggest product of any kind, with a long-term price he has pegged between $20,000 and $30,000.
Check out the “Robovan” from @Tesla
📸: @Teslarati pic.twitter.com/D4es2i9NUe
— TESLARATI (@Teslarati) October 11, 2024
“Terafab Texas will be the largest and most valuable building on Earth by far,” Musk wrote alongside the clip. “And it will be stunningly beautiful.”
One quote post summed up the reaction: “Futuristic scene with RoboVan + Cybercab + Tesla Semi + Optimus.”
Beyond the vehicles, the architecture wrapped around them stands out too. The building’s facade is canted at sharp angles, with illuminated horizontal bands running through what appears to be a multi level interior visible from outside. Below the elevated roadway, pedestrians walk along a plaza next to a reflecting pool, and the skyline behind the campus is dotted with angular spires that read more like sculpture than infrastructure, a departure from the strictly utilitarian look of Gigafactory Texas or Starbase.
The timing tracks with what Terafab representative Riley Trennell told Grimes County residents on Wednesday, when he said renderings of the facility would be released “within days.” Musk’s post followed less than 24 hours later, and Texas Governor Greg Abbott’s office sent out its own release Thursday confirming the project. As Teslarati reported this morning, Terafab’s tax abatement agreements with Grimes County are now signed and active, and SpaceX has sent the county its first $10 million payment under that deal. The dollar figure tied to this phase of construction, per Reuters, is $16.8 billion, one of the first hard capital expenditure numbers attached to Terafab since Musk unveiled the joint Tesla-SpaceX-xAI venture in March.Reaction on X ranged from enthusiastic to skeptical. “God Bless Texas! Everything is bigger and better in Texas!” one reply read. Another was more measured: “Terafab in a decade…..”
Whether the finished building matches the render is a separate question from whether Musk wanted people talking about the render itself. Less than a day after posting, the video had already crossed 5.5 million views.
Elon Musk and SpaceX shrugs off the trading day Wall Street feared most
The Boring Company’s newest Vegas Station has a permit quietly waiting behind it
