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SpaceX's "Christmas tree" is a Raptor engine for the holidays
SpaceX CEO Elon Musk showed off a holiday-themed Raptor engine “Christmas tree” with its very own star on top. Musk noted via a tweet that the company’s Starship propulsion team is “making great progress” building, testing, and refining the Raptor engines that will one day propel the next-generation rocket to Earth orbit and beyond.
On December 13th, Musk revealed that SpaceX is preparing to ship the 17th completed Raptor engine to the company’s McGregor, Texas rocket test and development facilities, the site of several dedicated test stands for the Starship engine. Likely one of the most complex rocket engines ever designed, built, or tested, Raptor relies on an exotic combustion cycle, referring to the specifics of how engines turn their propellant into meaningful thrust.
Raptor uses what is known as full-flow staged combustion (FFSC) and is the first FFSC engine to graduate beyond ground testing and actually fly, thus far having completed two flight tests in July and August 2019 as part of SpaceX’s Starhopper test campaign. In simple terms, the FFSC cycle aims to extract as much energy from a rocket’s propellant as efficiently as possible, resulting in what is theoretically the most efficient possible chemical propulsion from a given fuel and oxidizer combination.
Due to the sheer complexity required to achieve full-flow staged combustion, the engine type is incredibly rare and only two other (once) functional examples exist – one developed by Soviet engineers in the 20th century and the other built, tested, and inexplicably scrapped by NASA in the 2000s. In fact, the Soviet RD-270 engine’s thrust-to-weight ratio is likely second only to SpaceX’s own Merlin 1D engine, an absolutely spectacular achievement for a propulsion bureau operating in the late 1960s.
RD-270 had major development challenges and would likely have taken years of additional hardware-rich (i.e. destructive trial and error) testing to produce an engine actually capable of reliable flight. Before the program was cancelled in 1970, 22 engines were tested and no single RD-270 survived to perform a fourth static fire, a testament to the immense challenge of FFSC engines.
SpaceX appears to have had a much better go of it with Raptor, although many, many engines have definitely been destroyed or irreparably damaged since the full-scale engine’s February 2019 static fire debut. SpaceX CEO Elon Musk says that the 17th completed Raptor engine is almost ready to head to McGregor, Texas to kick off development and acceptance testing.
It remains to be seen when exactly Raptor engines will be mature and reliable enough to perform the 3-10 minute burns needed to send a Starship to orbit, let alone the Moon or Mars, but Musk appears confident that SpaceX is making great progress along those lines.
Per photos and info posted by NASASpaceflight.com earlier today, Raptor engine SN15 is already installed on a recently-reactivated McGregor test stand ahead of its first rocket-related test in almost half a decade.
Formerly used to test Falcon 9 first stages before SpaceX built a new stand for Falcon 9 and Heavy, that tripod stand has been reactivated for the sole purpose of supporting vertical Raptor engine static fire testing, which Musk says will simplify and expedite development by making test conditions much more flight-like. As of now, all subscale and full-scale Raptor engine static fire testing has been performed at horizontal test stands in McGregor, apparently resulting in wear and behavior that would not likely appear if engines were tested vertically.
SpaceX has gone through the same process with its Merlin engine programs, beginning with horizontal testing (far easier and simpler) but ultimately building a number of dedicated vertical test bays to ensure that engine acceptance and development tests can be performed under more flight-like conditions.
According to NASASpaceflight, SpaceX may have already fired up Raptor SN15 on its reactivated tripod test stand earlier this week, kicking off Raptor’s first Starhopper-free vertical static fire testing. It’s now unclear where the twin horizontal Raptor test bays will fit into future engine testing given Musk’s comments. More importantly, every completed Starship and Super Heavy rocket will require several dozen new Raptor engines and every one of those engines will likely need to pass acceptance testing (including static fires) in McGregor before they can be installed on a launch vehicle.
SpaceX’s Falcon 9 rocket already requires 10 engines per new booster and upper stage, a test burden SpaceX has only managed with the help of two Merlin 1D stands and one Merlin Vacuum stand, all vertical. In other words, it’s safe to say that the reactivated tripod stand is likely just the first of several vertical Raptor test stands to come.
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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
