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SpaceX sends Starship’s first vacuum Raptor engine to Boca Chica
For the first time, SpaceX has shipped a vacuum-optimized Raptor engine to its Boca Chica, Texas Starship factory days after the company’s present reiterated plans for an inaugural orbital launch attempt as early as July.
Back in March 2021, CEO Elon Musk confirmed that he’d set SpaceX a goal of attempting Starship’s first orbital launch no later than the end of July – around four and a half months distant at the time. Fifteen weeks later, though the prospects of an orbital launch attempt happening in July have practically shrunk to zero, SpaceX COO and President Gwynne Shotwell – best known for acting as a more grounded foil to Musk’s often impractical schedule estimates – reiterated that the company is still “shooting for July” for Starship’s first orbital launch attempt.
As of late June, hitting that target would require SpaceX to string together numerous extraordinary feats of engineering and rocketry in record time or attempt some extremely unorthodox corner-cutting.
The launch pad and launch vehicle hardware needed for Starship’s first space shot are currently far from ready for flight. On June 24th, Musk unexpectedly revealed that the Super Heavy booster prototype SpaceX is now in the late stages of assembly isn’t actually the booster that will carry Starship on its first space launch attempt. In other words, though dozens of rings in various states of work are strewn about SpaceX’s Boca Chica factory, the company has yet to begin assembling the massive 65m (~215 ft) tall booster required for the first orbital launch attempt.
Using Super Heavy Booster 3 (B3) as a ruler, assembly could easily take 9-10 weeks – starting whenever the process actually begins. If SpaceX started stacking Booster 4 today, in other words, it’s unlikely that the rocket would even be complete by the end of August. Barring SpaceX taking unprecedented shortcuts, completing the booster is just part of the process of preparing for flight and B4 would still need to be qualified for flight, likely involving at least one cryogenic proof and static fire test.
In a best-case scenario where SpaceX begins assembly today, manages to halve Booster 4 assembly time in one fell swoop, the sneaks the second Super Heavy ever completed through qualification testing in a single week, the orbital flight test booster still wouldn’t be ready for Starship installation (likely another unprecedented first) before mid-August.
That would then leave SpaceX five or six weeks to fully assemble Starship S20, a process that has yet to begin. Like Starship SN15, which Musk said sported “hundreds of improvements”, Musk has also stated that Ship 20 and all after it will feature another batch of upgrades needed to take Starship orbital. Starship SN15 was very gradually stacked and assembled over the course of almost four months, though that slow assembly can likely be blamed on the fact that SpaceX is busy testing Starships SN8 through SN11 and was effectively waiting to see if any other major changes might be required.
While most of S20’s upgrades are a mystery, the ship’s thrust dome – spotted in work at Boca Chica earlier this month – has already confirmed that the prototype will be the first with the necessary hardware for Raptor Vacuum engine installation. That likely means that S20 will also be the first Starship to attempt to static fire six Raptor engines*, potentially producing more thrust than a Falcon 9 booster. On June 27th, one such vacuum-optimized Raptor (RVac) arrived in Boca Chica for the first time ever, making it clear that the comparatively brand new engine may already be ready to start integrated Starship testing.
*Update: SpaceX CEO Elon Musk says that the Raptor Vacuum delivered to Boca Chica on June 27th is, in fact, meant for Starship S20, seemingly confirming that the prototype will fly with a full six Raptor engines.
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Of course, beyond Starship and Super Heavy, SpaceX also has a great deal of work left to get the rocket’s first orbital-class launch facilities partially operational. SpaceX will need to complete and activate at least one or two more custom-built propellant storage tanks, sleeve those three or four tanks with three or four massive thermos-like ‘shells,’ complete thousands of feet of insulated plumbing and wiring, finish a massive ‘launch table,’ install that table on a six-legged ‘launch mount;’ outfit that table and mount with an array of power, avionics, hydraulics, and fueling equipment and plumbing; complete a ~145m (~475 ft) ‘integration tower,’ and perform the first fit checks and shakedown tests with a real booster or Starship.
Only then will SpaceX be able to attempt Starship’s first space launch. All told, it might not be literally impossible for SpaceX to complete all the above work in less than five weeks, but it’s safe to say that the odds of that happening could probably make a lottery ticket blush. Regardless, if Starship reaches orbit at any point before the end of 2021, it would beat out simpler “next-generation” rockets like Ariane 6, ULA’s Vulcan, and Blue Origin’s New Glenn despite beginning concerted development years later and with a far less certain funding situation.
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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
