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SpaceX ships Starship’s 200th upgraded Raptor engine
A day after revealing the completion of the 200th Falcon upper stage and Merlin Vacuum engine, SpaceX has announced that it also recently finished building Starship’s 200th upgraded Raptor engine.
Starship – and Raptor, by extension – has yet to reach orbit and is likely years away from scratching the surface of the established success and reliability of the Falcon upper stage and MVac. But compared to MVac, Raptor is more complex, more efficient, more than twice as powerful, experiences far more stress, and is three times younger.
And Raptor 2 isn’t the first version of the engine. Before SpaceX shipped its first Raptor 2 prototype, it manufactured 100 Raptor 1 engines between the start of full-scale testing in February 2018 and July 2021. By late 2021 or early 2022, when Raptor 2 took over, the total number of Raptor 1 engines produced likely reached somewhere between 125 and 150 – impressive but pale in comparison to SpaceX’s Raptor 2 ambitions.
From the start, Raptor 2’s purpose was to make future Raptors easier, faster, and cheaper to manufacture. The ultimate goal is to eventually reduce the cost of Raptor 2 production to $1000 per ton of thrust, or $230,000 at Raptor 2’s current target of 230 tons (~510,000 lbf) of thrust. As of mid-2019, Musk reported that each early Raptor 1 prototype cost “more” than $2 million for what would turn out to be 185 tons of thrust (~$11,000 per ton). It’s not clear if that ever appreciably changed.
In response, SpaceX strived to make Raptor 2 simpler wherever possible, removing a large part of the maze of primary, secondary, and tertiary plumbing. In 2022, CEO Elon Musk confirmed that SpaceX had even removed a complex torch igniter system for Raptor 2’s main combustion chamber. All that simplification made Raptor 2 much easier to build in theory, and SpaceX’s production figures have more than confirmed that theory. Despite those simplifications, SpaceX was also able to boost Raptor 2’s thrust by 25% by sacrificing just 1% of Raptor 1’s efficiency.
Beginning with its first delivery in February 2018, SpaceX produced the first 100 Raptor 1 engines in about 36 months. In the first 11 to 12 months of Raptor 2 production, SpaceX has delivered 200 engines. That translates to at least six times the average throughput, but the true figure is even higher. In June 2019, Musk stated that SpaceX was “aiming [to build a Raptor] engine every 12 hours by end of year.” As is usually the case, that progress took far longer to realize. But in October 2022, a senior NASA Artemis Program official revealed that SpaceX recently achieved sustained production of one Raptor 2 engine per day for a full week.
Such a high rate – likely making Raptor one of the fastest-produced orbital-class rocket engines in history – is required because SpaceX’s next-generation Starship rocket needs a huge amount of engines. The Starship upper stage currently requires three sea-level-optimized Raptors and three vacuum-optimized Raptors, and SpaceX has plans to increase that to nine engines total. Starship’s Super Heavy booster is powered by 33 sea-level Raptors.
Orbital-class versions of Starship and Super Heavy have never flown, let alone demonstrated successful recovery or reuse, so SpaceX has to operate under the assumption that every orbital test flight will consume 39 Raptors. Even after the reuse of Super Heavy boosters or Starships becomes viable, taking significant strain off of Raptor demand, SpaceX wants to manufacture a fleet of hundreds or even thousands of Starships and a similarly massive number of boosters. To outfit that massive fleet, SpaceX would have to mass-produce orbital-class Raptor engines at a scale that’s never been attempted.
But it will likely be years – if not a decade or longer – before SpaceX is in a position to attempt to create that mega-fleet. If the Raptor 2 engines SpaceX is already building are modestly reliable and reusable, and it doesn’t take more than 5-10 orbital test flights to begin reusing Starships and Super Heavy boosters, a production rate of one engine per day is arguably good enough to support the next few years of realistic engine demand.
SpaceX’s first orbital Starship launch attempt could occur as early as December 2022, although Q1 2023 is more likely. SpaceX currently has permission for up to five orbital Starship launches per year out of its Starbase, Texas facilities and will likely try to take full advantage of that with several back-to-back test flights in a period of 6-12 months.
SpaceX (NASDAQ: SPCX) will report its first public earnings call today since its IPO earlier this year, and there are a few things we expect to hear about, as well as Wall Street analysts, who have already outlined their expectations for the call.
Wall Street analysts have a consensus of $12.72 billion in revenue and an earnings per share (EPS) of $0.13. These are broken down into three sectors: Space, Connectivity, and AI/SI, which are perceived in this way:
- Space: $1.41 billion
- Connectivity: $4.84 billion
- AI/SI: $6.47 billion
Other outlets cluster near $12.8 or $12.9 billion in revenue and $0.14 – $0.15 EPS. This implies a roughly 65 percent sequential growth from Q2’s $7.81 billion, driven mostly by AI/SI, with the first post-IPO positive EPS expected.
Here are the three things to watch for on the call:
AI Revenue Ramp and the $100B+ ARR target
AI is truly the swing factor for SpaceX, and analysts expect it to roughly double from Q2’s $2.56 billion and become about half of total revenue. Management previously guided to a $100 billion+ annualized run rate by December, including the Cursor acquisition, which was $60 billion, to close the quarter.
Listen for updates on SpaceX’s compute capacity, especially pertaining to its contracts with Google, Anthropic, and others, revenue per watt, any new deals, and Cursor’s early contribution.
Starlink/Connectivity Metrics and Mobile Expansion
Connectivity remains a main profit engine for SpaceX. Subscriber additions will be something to pay attention to, as Q2 ended at 12 million and previews are looking at 14 million for this quarter. Additionally, ARPU trends, enterprise and government growth, and any commentary on Starlink Mobile will be something to pay attention to, especially following the recent low-band spectrum deal and FCC-related constellation approvals.
Capex Trajectory, Cash Burn/FCF, and Starship/Operational Updates
Q2 capex of roughly $18.4 billion weighed on the stock. Investors will look to scrutinize Q3 spending levels, any guidance on the pace into Q4/2027, free cash flow, backlog, and liquidity. Operational color on Starship (Flight 14 milestones and Flight 15 timing/reusability progress), Falcon cadence, and government/NASA contracts are also in focus.
Of course, there will also be some speculation on the potential Tesla-SpaceX merger, but there was nothing mentioned in the company’s proxy it sent earlier this week.
SpaceX will report earnings after market close today and will stream the call on X.
Watch live as SpaceX discusses our Q3 2026 earnings at 3:30pm CT today → https://t.co/Qrb0qeVG15
— SpaceX (@SpaceX) October 20, 2026
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SpaceX just launched its secret Starfall saucer again
SpaceX launched its Starfall capsule again on Bandwagon-5, this time listed openly beside rideshare customers.
SpaceX launched its Starfall reentry capsule for the second time on Tuesday morning, flying it as the payload of the Bandwagon-5 rideshare mission. Falcon 9 lifted off from Space Launch Complex 40 in Florida at 7:04 a.m. ET with 32 payloads, and the first stage booster, on its 19th flight, landed on the droneship A Shortfall of Gravitas about nine minutes later.
Starfall was scheduled to separate last, 2 hours and 48 minutes after liftoff. The final customer satellite on SpaceX’s mission timeline comes off the upper stage about an hour and nine minutes in, which left a long gap before the capsule was due to be released alone. SpaceX later posted that the payload deployment sequence is complete. At liftoff, the company said Starfall “enables affordable, routine access to a microgravity environment, providing unique opportunities for on-orbit manufacturing, scientific research, and testing.”
Starfall enables affordable, routine access to a microgravity environment, providing unique opportunities for on-orbit manufacturing, scientific research, and testing https://t.co/y8kJg3QDor
— SpaceX (@SpaceX) October 20, 2026
As Teslarati reported before the first Starfall flight, SpaceX made no public announcement about the vehicle then, and nearly everything known came from FAA and FCC filings. This time Starfall is an item name on the official mission page, listed beside paying rideshare customers. SpaceX has still not said what, if anything, is aboard this Starfall, Spaceflight Now noted.
The FAA’s environmental assessment from May describes a disk about 10.2 feet wide and 2.5 feet tall that weighs roughly 4,600 pounds and can bring 2,200 pounds of payload back to Earth.
Interestingly, the same rocket also carries a competitor’s hardware. Varda Space Industries launched its W-Series 7 capsule on Bandwagon-5, a spacecraft about three times smaller than Starfall that will test whether microgravity can improve the solubility of a cancer drug called Protac. It is Varda’s ninth reentry capsule, and W-8 and W-9 launched earlier this month on Transporter-18. SpaceX has been Varda’s launch provider since the company’s first Falcon 9 rideshare contract in 2021.
SpaceX has not published where or how this Starfall will come down. The preview we ran in June described a recovery from the Pacific Ocean, and the company has not said whether this flight follows the same plan. The launch also arrives hours before SpaceX posts its third quarter results after the market closes, a report we previewed earlier this week.
Elon Musk
The Boring Company’s latest Tesla tunnel truck mod “fits like a glove”
The Boring Company has modified a Tesla powered tunnel truck to carry freight containers underground.
The Boring Company has found a second job for the Tesla hardware it already runs underground. In a post on X, Elon Musk’s tunneling company showed its latest Prufrock Liner Truck modified to carry a standard 20 foot shipping container. “Using TBC tunnels to transport freight,” the company wrote. “The latest Prufrock Liner Truck (using Tesla Model 3 batteries and drive units) has been modified to carry a standard 20′ shipping container. Fits like a glove!”
The photo shows a red container sitting on a long, low white chassis parked outside, with drive hardware visible at one end. The Boring Company did not say where or when freight hauling would start, which customers it has in mind, or how many trucks it is converting.
Using TBC tunnels to transport freight.
The latest Prufrock Liner Truck (using Tesla Model 3 batteries and drive units) has been modified to carry a standard 20’ shipping container.
Fits like a glove! https://t.co/VV0phWK4fc
— The Boring Company (@boringcompany) October 19, 2026
Until now, the liner trucks have hauled concrete. Teslarati reported in August on Liner Truck 3, which uses Model 3 battery packs and drive units to move more than 22,000 pounds of precast tunnel segments to the boring machine. It has 28 miles of range, tops out at 12 mph, and is piloted remotely from the company’s operations center in Texas. The freight version appears to be the same platform with a different bed, and The Boring Company has not said whether it will also be remotely piloted.
Freight has been on the company’s menu for years. When TBC updated its product lineup in 2021, its freight tunnel was described as sized to fit a standard shipping container, “barely.” The company later used the idea at Tesla’s own factory, where Prufrock 3 dug a tunnel to Giga Texas that now moves finished Cybertrucks away from the production line.
The Boring Company closed a $3 billion Series D in September at a $23 billion valuation, and Teslarati has covered how that money is tied to a UAE tunneling push and a faster Nashville build. In Nashville, Prufrock MB1 and MB2 are mining at the same time, and a third machine is expected to launch in late October. Each machine needs a steady supply of liner trucks, so any design that works for segments and containers alike gives the company more use out of the same Tesla parts.
The Vegas Loop remains the only Boring Company system open to the public, and it moves passengers in Tesla vehicles. A freight service would be a separate product, and the post gave no indication that one is close to launch. For now, it is a truck, a container and a short caption saying they fit together.
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SpaceX just launched its secret Starfall saucer again
The Boring Company’s latest Tesla tunnel truck mod “fits like a glove”
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