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SpaceX’s second Starship hop imminent after Raptor static fire test
SpaceX has successfully fired up a new Starship prototype’s Raptor engine, putting the company on track for its second Starship hop test as soon as this week.
The milestone comes not long after SpaceX Starship serial number 6 (SN6) completed its first cryogenic proof, a pressure test with liquid nitrogen (LN2) used to safely verify the structural integrity of tanks (and rockets, in particular). Measuring 9m (30 ft) wide and some 30m (~100 ft) tall, SpaceX rolled Starship SN6 from its Boca Chica, Texas factory to a nearby test and launch facility on August 11th and wrapped up its first acceptance test on August 16th.
Now, just seven days after its cryo proof, SpaceX has installed a new Raptor engine (SN29), prepared SN6 for a much riskier round of tests, and completed a static fire with said engine, leaving just one major step between the Starship and its hop debut. Of course, the process still had its fair share of hiccups.
SpaceX’s first SN6 static fire test window – published by Cameron County in the form of road closure notices – was set for 8 am to 8 pm CDT (UTC-5), August 23rd a few days after the Starship’s cryo proof. The first test attempt began around 9:30 am but was aborted soon after as SpaceX employees returned to the launch pad to (presumably) troubleshoot. The second attempt began around 2:30 pm, leaving a little less than half the test window available.
Attempt #2 very nearly managed to extract a static fire, aborting possibly a second or less before Raptor ignition around 3:41 pm. Once again, SpaceX teams returned to the pad after Starship was detanked and safed, briefly inspecting the general location of the rocket’s Raptor engine before once again clearing the pad around 6:30 pm. At long last, Starship SN6 began a smooth and fast flow that culminated in the ignition of Raptor SN29 around 7:45 pm, just 15 minutes before the end of SpaceX’s test window.
As with all SpaceX static fires, engineers must still analyze the data produced – and possibly inspect pad or rocket hardware – to verify vehicle health before proceeding into launch operations. Unlike all other SpaceX static fires, the company doesn’t announce the results of those tests – nor the solidified launch window – during prototype development programs. In the context of iterative aerospace development, while there may be such a thing as a “good” or “bad” test, all tests – as long as they’re performed safely and produce a large quantity of usable data – are essentially successful.
As such, it’s likely for the best that SpaceX doesn’t put the public focus on the “success” of any given test. Still, it means that unofficial educated guesses are typically the only way to determine the results of any given test and how those results impact the next steps. For SN6, the very broad-strokes conclusions one can draw from unofficial livestreams suggest that the Starship’s first Raptor static fire was a success. Assuming that the unknown cause(s) of the day’s two prior aborts were minor and easily rectified, SpaceX is likely exactly on schedule for Starship SN6’s first hop attempt.
SN6’s first flight is expected to be an almost identical copy of Starship SN5’s highly successful August 4th debut, following the same 150m (~500 ft) parabolic trajectory. Filed before SN6’s August 23rd static fire, SpaceX has penciled in Friday, August 28th for Starship SN6’s own hop debut. Thanks to the fact that SpaceX was able to complete both SN6’s cryo proof and static fire on the first day of their respective test windows, August 28th is likely well within reach. Stay tuned for updates as Starship SN6’s hop debut schedule solidifies.
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Elon Musk
ARK’s SpaceX IPO Guide makes a compelling case on why $1.75T may not be the ceiling
ARK Invest breaks down six reasons SpaceX’s $1.75 trillion IPO valuation may be justified.
ARK Invest, which holds SpaceX as its largest Venture Fund position at 17% of net assets, has published a detailed investor guide to why a SpaceX IPO may be grounded in a $1.75 trillion target valuation.
The financial case starts with Starlink, SpaceX’s satellite internet constellation, which has surpassed 10 million active subscribers globally as of early 2026, with 2026 revenue projected to exceed $20 billion. ARK’s research puts the total satellite connectivity market opportunity at roughly $160 billion annually at scale, and Starlink is adding customers faster than any telecom network in history. That growth alone would justify a substantial valuation.
Additionally, ARK notes that SpaceX has reduced the cost per kilogram to orbit from roughly $15,600 in 2008 to under $1,000 today through reusable Falcon 9 hardware. A fully operational Starship targeting sub-$100 per kilogram would represent a significant cost decline and open markets that do not currently exist. SpaceX executed a staggering 165 missions in 2025 and now accounts for approximately 85% of all global orbital launches. That infrastructure position took decades to build and would be nearly impossible to replicate at comparable cost.
SpaceX officially acquires xAI, merging rockets with AI expertise
The February 2026 merger with xAI added a layer to the valuation that straightforward financial models struggle to capture. ARK argues that at sub-$100 launch costs, orbital data centers could deliver compute roughly 25% cheaper than ground-based alternatives, without power grid delays, permitting friction, or land constraints. Musk has stated a goal of deploying 100 gigawatts of AI computing capacity per year from orbit.
The $1.75 trillion figure itself is not a conventional earnings multiple. At roughly 95x trailing revenue, it prices in Starlink’s adoption curve, Starship’s cost trajectory, and the orbital compute thesis together. The public S-1 prospectus, due at least 15 days before the June roadshow, will give investors their first complete look at the financials to test those assumptions. ARK’s position is that the track record earns the benefit of the doubt. Fully reusable rockets were considered unrealistic for years. Starlink was considered financially unviable. Both happened on timelines that surprised skeptics.
Elon Musk
Ford CEO Farley says Tesla is not who to look at for EV expertise
Interestingly, Farley has been one of the most hellbent CEOs in terms of a legacy automaker standpoint to push the EV effort. It did not go according to plan, as Ford took a $19.5 billion charge and retreated from its EV push in late 2025.
Ford CEO Jim Farley said in a recent podcast interview that Tesla is not who Americans should look at to beat Chinese carmakers.
The comments have sparked quite a bit of outrage from Tesla fans on X, the social media platform owned by Elon Musk.
Farley said that Chinese automakers are better examples of how to beat competitors. He said (via the Rapid Response Podcast):
“If you’re an American and you want us to beat the Chinese in the car business, you’re all going to want to pay attention, not necessarily to Tesla. Nothing against Tesla—they’ve been doing great—but they really don’t have an updated vehicle. The best in the business for us, cost-wise and competition-wise, supply chain, manufacturing expertise, and the I.P. in the vehicle, was really BYD. In this next cycle of EV customers in the U.S., they want pickups and utilities and all these different body styles. But they want them at $30,000, not $50,000. Like the first inning, they want them affordably.”
Despite Farley’s synopsis, it is worth mentioning that Tesla had the best-selling passenger vehicle in the world last year, and in China in March, as the Model Y continued its global dominance over other vehicles.
Musk responded to Farley’s comments by stating:
“This is before Supervised FSD is approved in China. Limiting factor is production output in Shanghai.”
This is before supervised FSD is approved in China. Limiting factor is production output in Shanghai.
— Elon Musk (@elonmusk) April 19, 2026
Interestingly, Farley has been one of the most hellbent CEOs in terms of a legacy automaker standpoint to push the EV effort. It did not go according to plan, as Ford took a $19.5 billion charge and retreated from its EV push in late 2025.
Ford cancels all-electric F-150 Lightning, announces $19.5 billion in charges
Instead, Ford is “doubling down on its affordable” EVs and said it would pivot from its previous plans.
Reaction from Tesla fans was pretty much how you would expect. Many said they have lost a lot of respect for Farley after his comments; others believe he is the last CEO anyone should be taking advice on EVs from.
Nevertheless, Farley’s plans are bold and brash; many consider Tesla the most ideal company to replicate EV efforts from. It will be interesting to see if Ford can rebound from this big adjustment, and hopefully, Farley’s plans to replicate efforts from BYD work out the way he hopes.
Elon Musk
SpaceX wins its first MARS contract but it comes with a catch
NASA awarded SpaceX a $175 million Mars rover contract while the White House proposes cutting the mission.
NASA just signed a $175.7 million contract with SpaceX to launch a Mars rover that the White House is simultaneously trying to defund. The contract, awarded on April 16, 2026, tasks SpaceX’s Falcon Heavy with launching the European Space Agency’s (ESA) Rosalind Franklin rover from Kennedy Space Center in Florida, no earlier than late 2028. It would mark the first time SpaceX has ever sent a payload to Mars.
Under NASA’s Rosalind Franklin Support and Augmentation project, known as ROSA, the agency is providing braking engines for the rover’s descent stage, radioisotope heater units that use decaying plutonium to keep the rover warm on the Martian surface, additional electronics, and a mass spectrometer instrument, as noted by SpaceNews.
Those nuclear heating units are the reason an American rocket was required at all. U.S. export controls on radioisotope technology mean any payload carrying them must launch on a domestic vehicle, which narrowed the field to SpaceX and United Launch Alliance. Falcon Heavy’s pricing made it the practical choice.
SpaceX is quietly becoming the U.S. Military’s only reliable rocket
Falcon Heavy debuted in February 2018 and has 11 launches to its record. The rocket has not flown since October 2024, when it sent NASA’s Europa Clipper toward Jupiter. The three-core design, built from modified Falcon 9 first stages, gives it the lift capacity needed for deep space planetary missions that a single Falcon 9 cannot reach.
The Rosalind Franklin rover has been sitting in storage in Europe for years. It was originally due to launch in 2022 as a joint mission with Russia, but Russia’s invasion of Ukraine ended that partnership, leaving the rover built but stranded without a launch vehicle or landing hardware. NASA stepped back in through a 2024 agreement with ESA to rescue the mission. The rover is designed to drill up to two meters below the Martian surface in search of evidence of past life, a science objective no previous mission has attempted at that depth.
The contradiction at the center of this story is hard to ignore. The White House’s fiscal year 2027 budget proposal included no funding for ROSA and did not mention the mission at all in the detailed congressional justification document released April 3.
Musk has long argued that reaching Mars is not optional. “We don’t want to be one of those single planet species, we want to be a multi-planet species.” Whether this particular mission survives Washington’s budget fight, the Falcon Heavy contract means SpaceX is now formally on record as the rocket that could get humanity’s next Mars science mission off the ground.
The timing of this contract carries extra weight given that SpaceX filed confidentially with the SEC in early April and is targeting an IPO roadshow in the week of June 8. It would be the largest public offering in history.
ARK’s SpaceX IPO Guide makes a compelling case on why $1.75T may not be the ceiling
Ford CEO Farley says Tesla is not who to look at for EV expertise
