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SpaceX CEO Elon Musk posts uncut Raptor, drone videos of Starhopper’s flight test debut
Some two hours after Starhopper’s inaugural untethered flight, SpaceX CEO Elon Musk took to Twitter to post an uncut video showing the ungainly rocket’s launch and landing from the perspective of both a drone and Starhopper’s lone Raptor engine.
As noted by commenters, Starhopper’s first flight also marks perhaps an even more fascinating milestone: it’s technically the first launch ever of a full-flow staged-combustion (FFSC) rocket engine. Whether or not the development hell Raptor required is or was worth it to SpaceX, the company has become the first and only entity on Earth to develop and fly a FFSC engine, beating out the national space agencies of both the United States and Soviet Union, both of which built – but never flew – prototypes.
Instead of inexplicably shelving a mature prototype development and test program, SpaceX iterated through several subscale Raptor prototypes, test-fired the engines for more than 1200 seconds total, used that data to design and build full-scale Raptors, and finally sped into a hardware-rich test campaign with six (soon to be seven) new engines. After SpaceX settled on a full-flow staged-combustion cycle and methane/oxygen (methalox) propellant, Raptor conducted its first full-scale tests all the way back in 2014, performing preburner flow and ignition tests at NASA’s Stennis Space Center.
Two years and many additional subcomponent tests later, SpaceX successfully performed the inaugural static fire test of its first completed subscale Raptor, a huge milestone for any rocket engine. In the 12 months following its first static fire (September 2016), SpaceX performed dozens of static fire tests with several subscale engines, putting the new propulsion system through >1200 seconds of combined testing.
A year after that, SpaceX was still testing subscale engines but the first full-scale Raptor engine was just a few months away from completing assembly in Hawthorne and heading to McGregor to kick off full-scale static fire testing. Indeed, four months after CEO Elon Musk’s September 2018 update, Raptor serial number 01 (SN01) shipped to Texas in late January and successfully ignited for the first time on February 3rd. SpaceX’s finalized full-scale Raptor engine is designed to produce more than 2000 kN (450,000 lbf, 200 tons) of thrust at full-throttle.
Since that inaugural ignition, SpaceX’s propulsion team – perhaps to their detriment, under orders from Musk – pushed SN01 and several of its successors to their limits as quickly as possible, resulting in severe, irreparable damage in several cases. On the other hand, the no-holds-barred, ‘hardware-rich’ (i.e. destructive) test program has allowed SpaceX to relatively quickly solve several major bugs that prevented the engine from passing longer test fires.
Raptor SN05 was originally expected to support Starhopper’s first flight(s) but had to be passed up after suffering damage in one of its final June 2019 acceptance tests. Raptor SN06 became the first engine – likely thanks to tweaks afforded by data gathered from its failed brethren – to pass all of those acceptance tests, leading to its eventual installation on Starhopper in early July.
Raptor’s impressive development culminated on July 25th with the engine’s first untethered flight while attached to Starhopper, a 9m-diameter (30 ft) low-fidelity prototype that is more or less a mobile test stand for the next-generation SpaceX engine. Raptor is now the only FFSC engine in history that has powered a flight-capable vehicle’s launch and landing, even if said flight featured an apogee of just 20-30 meters (65-100 ft).
“In full-flow staged combustion (FFSC), even more complexity is added as all propellant that touches the engine must necessarily end up traveling through the main combustion chamber to eke every last ounce of thrust out of the finite propellant a rocket lifts off with. As such, FFSC engines can be about as efficient as the laws of physics allow any given chemical rocket engine to be, at the cost of exceptional complexity and brutally difficult development.“
SpaceX delays Starhopper’s first flight a few days despite Raptor preburner test success
For more on what exactly makes full-flow staged-combustion engines uniquely capable and challenging to develop, the subject has been covered at length in past Teslarati articles.
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According to Musk, the next major challenge facing Starhopper and (presumably) Raptor SN06 is far more ambitious 200-meter (650 ft) hop and flight test that could happen as soon as the first half of August.
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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.
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.
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.
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
