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SpaceX Starship Integrated Flight Test 2: What to Expect
After a one-day delay to replace a failed grid fin actuator, SpaceX is now less than 24 hours from the second test flight of Starship. SpaceX will have a 20-minute launch window that opens at 7:00 AM CT (13:00 UTC).
Making this test flight is Ship 25 and Booster 9. Ship 25 is powered by 6 Raptor engines (3 sea level and 3 vacuum), and Booster 9 is powered by 33 Raptor engines.
Booster 9 features many upgrades over the last booster to take flight, including better engine shielding and a switch from hydraulic thrust vector controls to electric TVC. Ship 25 didn’t see as many upgrades as the booster, and not much has been shared of any major changes that were made. One change to both vehicles was the improvement of the Flight Termination System, which took much longer to destroy the rocket than expected during the first test.
Launch Day
T minus 2 hours before the scheduled liftoff, the SpaceX launch director will give the go for propellant loading. This process will begin at t minus 1 hour and 37 minutes, and at this point, Booster 9 will begin loading with both liquid oxygen and liquid methane.
T minus 1 hour and 17 minutes, liquid methane will begin loading onto Ship 25, followed by liquid oxygen 4 minutes later at t minus 1 hour and 13 minutes.
T minus 19 minutes and 40 seconds, the 39 Raptor engines on Booster 9 and Ship 25 will begin chilling to prepare for the extremely cold fuel to flow through and prevent thermal shock to engine hardware.
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T minus 10 seconds, the flame deflector installed after the first IFT will begin flowing water.
Super Heavy Booster 9 static fire successfully lit all 33 Raptor engines, with all but two running for the full duration. Congratulations to the SpaceX team on this exciting milestone! pic.twitter.com/1hzs768vHg
— SpaceX (@SpaceX) August 25, 2023
T minus 3 seconds, Raptor engine ignition begins, and thrust begins to build to allow for liftoff.
LIFT OFF!
T+ 2 seconds, the 2nd Integrated Flight Test should now be officially underway, with Booster 9 thundering away from the orbital launch mount.
Liftoff from Starbase pic.twitter.com/rgpc2XO7Z9
— SpaceX (@SpaceX) April 20, 2023
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T+ 52 seconds, Starship and Booster 9 reach Max Q, the area of maximum dynamic pressure on the vehicle will occur here. If (or most) all Raptor engines on Booster 9 are performing nominally, the vehicle will pass through this fairly quickly.
T+ 2 minutes and 39 seconds, Staging. This will be the first time SpaceX has ever attempted hot staging. Almost all of Booster 9 engines will cut out, and Ship 25 will ignite its Raptor engines to separate from the booster. This is all unknown territory from this point on for SpaceX, as the first test flight did not make it this far. SpaceX has yet to clarify how many Ship 25 engines will ignite during this process.
If all goes well, Booster 9 will begin its flip and boost backburn at t+ 2 minutes and 53 seconds, which will last ~54 seconds. Unlike the Falcon 9, the booster is not designed to perform an entry burn.
T+ 6 minutes and 30 seconds after lift-off, Booster 9 will begin its landing burn for a hopeful soft touchdown in the Gulf of Mexico 18 seconds after landing burn ignition. The planned landing area is ~20 miles (32 km) downrange.
Meanwhile, Ship 25 will continue burning its 6 Raptor engines until t+ 8 minutes and 33 seconds, inserted into a sub-orbital trajectory, and then enter a coast phase until its planned reentry North of the Hawaiian islands.
Landing!
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At t+ 1 hour and 17 minutes, Starship will begin feeling the effects of the atmosphere, its first real test for the heatshield. If it survives atmospheric entry, Starship will splash down in the Pacific Ocean at t+ 1 hour and 30 minutes after lift off. SpaceX has said Ship 25 will not attempt a landing burn during this test.
If Starship is able to make it past staging, SpaceX will most likely consider this test a success, but it would be a major accomplishment for Ship 25 to survive entry back through the atmosphere and gather important data for the company.
If you have a chance to make it to South Texas or even the other side of the Rio Grande in Mexico, it’ll be a sight you’ll never forget. If you’re watching from home, SpaceX will begin streaming the launch on X and their website 35 minutes before lift-off.
Questions or comments? Shoot me an email at rangle@teslarati.com, or Tweet me @RDAnglePhoto.
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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.
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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.
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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.
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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
