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SpaceX’s first high-flying, triple-Raptor Starship is almost finished
SpaceX’s first high-flying, triple-engine Starship prototype is rapidly approaching completion at the same time as the company is preparing for the rocket’s predecessor to lift off on its inaugural test flight.
Known as serial number 5 (SN5), it will be the fifth full-scale Starship prototype completed by SpaceX since November 2019 and the fourth since late-January 2020. Following in the footsteps of Mk1, SN1, SN3, and SN4, SpaceX CEO Elon Musk has recently stated that Starship SN5 will be the first prototype to have three Raptor engines and a nosecone installed and could be the first to be outfitted with new and improved aerodynamic control surfaces.
In the meantime, Starship SN4 is perhaps less than 30 hours away from performing a third Raptor static fire test, potentially paving the way for the biggest challenge yet for a full-scale Starship prototype: powered flight. Scheduled no earlier than 9am CDT (14:00 UTC), May 13th, Starship SN4’s next static fire is meant to ensure that a replacement Raptor engine is functioning properly. If successful, the building-sized rocket will effectively be ready to attempt its first launch – also a first for the Starship program overall – pending FAA approval.
As illustrated in the unofficial diagram above, nearly all of the individual sections that will make up Starship SN5 appear to be more or less complete, excluding some ambiguity added by the interchangeable nature of some of the steel rings all Starships are built out of. For the current design and assembly strategy, Starships are comprised of eight separate sections, themselves made up of stacks of 2-4 steel rings. Altogether, excluding the conical nose section, a single Starship requires approximately 20 of those ~1.8m (6 ft) tall steel rings to reach its full height.
Currently, SpaceX has been focused on testing just the tank section of Starship prototypes, representing the vast majority of the technical challenges that must be solved to fully realize the next-generation launch vehicle’s ambitions. Excluding a smaller secondary liquid oxygen tank situated in the tip of Starship nosecones, the nose section is effectively irrelevant – putting the cart before the horse – until Starship tank sections are more of a known quantity.
When that would be the case was entirely up in the air until just the last week or so, when Starship SN4 became the first full-scale prototype to pass a cryogenic proof test, perform a wet dress rehearsal (WDR) with real propellant, complete static fire(s) with a Raptor engine installed, and – finally – pass a more challenging cryogenic pressure test in quick succession. With those milestones passed for the first time ever, SpaceX has effectively proven that it’s solved the what is arguably the most unprecedented aspect of its Starship program: building orbital-class pressure vessels for pennies on the dollar on the South Texas coast.
Of course, doing it once with Starship SN4 is not the same as fully confirming that SpaceX’s extremely exotic South Texas rocket factory is capable of producing repeatable results with future rockets. While incredibly improbable, Starship SN4’s multiple successes could be a fluke. Additionally, as Musk has noted, the goal is to complete two entire Starships every week once the factory is fully optimized. SpaceX has already achieved a monthly production rate for its current line of prototypes, an extremely encouraging sign for the practicality of Musk’s stretch goal.
In the prototype stage, that speed of production has been incredibly useful, enabling SpaceX to move at a pace of launch vehicle development almost unheard of since NASA’s Apollo Program. At the moment, Starship SN4 has passed all tests thrown at it so far and will soon be attempting the riskiest Starship test yet with its inaugural hop attempt. If the ship were to be destroyed, one would traditionally expect a bare minimum of a few months of program delay. Instead, Starship SN5 could be more or less complete even before SN4 receives FAA permission for its first flight, meaning that a replacement will already be ready to roll to the launch pad if or when SN4 is destroyed.
In a best-case scenario, if Starship SN4 continues to pass the tests thrown at it, including one or several hops, SpaceX will instead be entering a new phase indicative of what’s to come: the concurrent testing and operation of a fleet of Starships. A step further, if Starship SN4 succeeds, Starship SN5 appears to be on track to become the first prototype to have a full three Raptor engines and a nosecone installed, as well as the first to attempt a high-altitude (20 km/12 mi) flight test.
Elon Musk
Elon Musk calls out $2 trillion SpaceX IPO valuation as ‘BS’
In a swift rebuke on X, Elon Musk dismissed reports claiming SpaceX had confidentially filed for an initial public offering targeting a valuation above $2 trillion, labeling the information as unreliable.
Elon Musk is quick to call out any false information regarding him or his companies on his social media platform, known as X.
A recent report that claimed SpaceX was aiming to go public with an IPO in the coming weeks at a massive valuation of $2 trillion was called out by Musk, who referred to it as “BS.”
In a swift rebuke on X, Elon Musk dismissed reports claiming SpaceX had confidentially filed for an initial public offering targeting a valuation above $2 trillion, labeling the information as unreliable.
The exchange highlights ongoing media speculation about the rocket company’s future and Musk’s frustration with what he views as inaccurate financial reporting. The report came from Bloomberg.
Don’t believe everything you read.
Bloomberg publishes bs.
— Elon Musk (@elonmusk) April 3, 2026
The controversy erupted on April 2, 2026, when influencer Mario Nawfal amplified claims from Bloomberg.
The outlet posted that SpaceX had boosted its IPO target valuation above $2 trillion, describing it as potentially one of the largest public offerings in history. Musk challenged the story.
It echoes past instances where Musk has corrected valuation rumors about his companies, emphasizing that speculation often outpaces reality.
Background context adds nuance.
Earlier reports indicated SpaceX had filed confidential IPO paperwork with the U.S. Securities and Exchange Commission, potentially positioning it for a record-breaking debut that could eclipse Saudi Aramco’s 2019 listing.
Initial estimates pegged a possible valuation north of $1.75 trillion, building on a post-merger figure around $1.25 trillion after SpaceX absorbed xAI. A subsequent Bloomberg update claimed advisers were floating figures above $2 trillion to investors, with the offering potentially raising up to $75 billion.
SpaceX remains a private powerhouse. Its achievements include thousands of Starlink satellites providing global broadband, routine Falcon 9 rocket reusability, and a mission to slash launch costs, along with ambitions for Starship to enable Mars colonization.
The company also benefits from government contracts with NASA and the Department of Defense. A public listing could democratize access for retail investors while subjecting SpaceX to greater scrutiny and quarterly reporting pressures.
Critics of the reports point to the confidential nature of filings, which limits verifiable details. Musk has previously downplayed inflated valuations, once calling an $800 billion figure for SpaceX “too high.”
Supporters argue that hype around mega-IPOs, especially amid the ongoing AI fervor, fuels premature narratives that distract from core technical milestones, such as full Starship reusability and Starlink constellation expansion.
The incident reflects broader tensions in tech finance. Anonymous sourcing in valuation stories can drive market chatter and betting activity, yet it risks misinformation.
Bloomberg defended its reporting through multiple articles citing “people familiar with the matter,” but Musk’s blunt dismissal resonated widely on X, with users piling on to question media reliability.
Whether SpaceX ultimately goes public remains uncertain. Musk has teased an IPO tied to Starlink maturity, but priorities center on engineering breakthroughs over Wall Street timelines. For now, the $2 trillion figure joins a list of rumored milestones that Musk insists should be taken with skepticism.
Elon Musk
Elon Musk reveals date of SpaceX Starship v3’s maiden voyage
The announcement arrives after Flight 11 on October 13 of last year, which concluded a busy 2025 testing campaign. Since then, SpaceX has focused on ground testing, including cryoproofing of Ship 39 and preparations for Booster 19, the first V3 Super Heavy.
SpaceX CEO Elon Musk has revealed the timeline for the next Starship launch. It will be the first launch using SpaceX’s revamped design for Starship, as its v3 rocket will take its maiden voyage sooner than many might expect.
Musk announced on April 3 on X that the next Starship flight test, and the first flight of the upgraded v3 ship and booster, is 4 to 6 weeks away. The update signals the end of a nearly six-month hiatus since the program’s last launch.
Elon says the first V3 Starship launch will occur in 4-6 weeks
It will be the first Starship launch since Flight 11 on October 13, 2025 https://t.co/QnnYPTdbUu
— TESLARATI (@Teslarati) April 3, 2026
The upcoming mission, designated as Starship’s 12 integrated flight test (IFT-12), marks a significant milestone. It will be the debut of the v3 configuration, featuring a taller Super Heavy Booster and Starship upper stage. The changes SpaceX has made with the v3 rocket and booster are an increased propellant capacity and the more powerful Raptor 3 engines.
Earlier predictions from Musk in March had pointed to an April timeframe, but the latest timeline now targets a launch window in early to mid-May 2026.
The V3 iteration represents a substantial evolution from previous Starship prototypes. Engineers have optimized the design for improved manufacturability, higher thrust, and greater efficiency. Raptor 3 engines deliver significantly more power while reducing weight and production costs compared to earlier variants.
With these enhancements, SpaceX aims to boost payload capacity toward 200 metric tons to low Earth orbit in a fully reusable configuration — a dramatic leap from the roughly 35-ton target of prior versions. Such capabilities are critical for ambitious goals, including NASA’s Artemis lunar missions and eventual crewed flights to Mars.
The announcement arrives after Flight 11 on October 13 of last year, which concluded a busy 2025 testing campaign. Since then, SpaceX has focused on ground testing, including cryoproofing of Ship 39 and preparations for Booster 19, the first V3 Super Heavy.
Recent activities have involved static fires, activation of the new Pad 2 at Starbase in Boca Chica, Texas, and integration of Raptor 3 engines.
A prior incident with an early V3 booster on the test stand in late 2025 contributed to the delay, necessitating additional assembly and qualification work.
Musk’s timeline updates have become a hallmark of the Starship program, often described with characteristic optimism.
SpaceX’s Starship V3 is almost ready and it will change space travel forever
While past targets have occasionally shifted by weeks, the rapid iteration pace remains impressive. However, don’t be surprised if this timeline shifts again, as Musk has been overly optimistic in the past with not only launches, but products under his other companies, too.
SpaceX continues to refine launch infrastructure, including new propellant loading systems and tower mechanisms designed to support higher cadence operations. A successful V3 flight could pave the way for more frequent tests, tower catches of both booster and ship, and progression toward operational reusability.
The v3 debut is viewed as a transition point for Starship, moving beyond experimental flights toward a system capable of supporting large-scale deployment of Starlink satellites, lunar landers, and interplanetary transport.
Success on IFT-12 would demonstrate not only the new hardware’s performance but also SpaceX’s ability to recover from setbacks and maintain momentum.
As the 4-to-6-week countdown begins, anticipation builds at Starbase. Teams are finalizing vehicle stacking, conducting final pre-flight checks, and preparing for regulatory approvals. The world will be watching to see if Starship V3 can deliver on its promise of transforming humanity’s access to space.
Elon Musk
SpaceX to launch military missile tracking satellites through new Space Force contract
SpaceX wins a $178.5M Space Force contract to launch missile tracking satellites starting in 2027.
The U.S. Space Force awarded SpaceX a $178.5 million task order on April 1, 2026 to launch missile tracking satellites for the Space Development Agency. The contract, designated SDA-4, covers two Falcon 9 launches beginning in Q3 2027, one from Cape Canaveral Space Force Station in Florida and one from Vandenberg Space Force Base in California. The satellites, built by Sierra Space, are designed to bolster the nation’s ability to detect and track missile threats from orbit.
The award falls under the National Security Space Launch Phase 3 Lane 1 program, which Space Force uses to move payloads to orbit on faster timelines and at more competitive prices. “Our Lane 1 contract affords us the flexibility to deliver satellites for our customers, like SDA, more easily and faster than ever before to all the orbits our satellites need to reach,” said Col. Matt Flahive, SSC’s system program director for Launch Acquisition, in the official press release.
SpaceX is quietly becoming the U.S. Military’s only reliable rocket
The SDA-4 contract is the latest in a long string of national security wins for SpaceX. As Teslarati reported last month, the Space Force recently shifted a GPS III satellite launch from ULA’s Vulcan rocket to SpaceX’s Falcon 9 after a significant Vulcan booster anomaly grounded ULA’s military missions indefinitely. That move made it four consecutive GPS III satellites transferred to SpaceX after contracts were originally awarded to its competitor.
This didn’t come without a fight and dates back years. SpaceX originally had to sue the Air Force in 2014 for the right to compete for national security launches, at a time when United Launch Alliance held a near monopoly on the market. Since then, the company has steadily displaced ULA as the dominant provider, and last year the Space Force confirmed SpaceX would handle approximately 60 percent of all Phase 3 launches through 2032, worth close to $6 billion.
With missile defense satellites now part of its launch manifest alongside GPS, communications, and reconnaissance payloads, SpaceX is giving hungry investors something to chew on before its imminent IPO.
Elon Musk calls out $2 trillion SpaceX IPO valuation as ‘BS’
Elon Musk reveals date of SpaceX Starship v3’s maiden voyage
