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SpaceX fires up Starship rocket twice in 30 hours ahead of next big tests
SpaceX has successfully fired up a full-scale Starship rocket for the second time in barely 30 hours and removed the ship’s Raptor engine to perform an additional suite of “cryo testing”.
Around 7pm CDT on May 6th, SpaceX technicians began loading the fourth full-scale Starship with liquid oxygen and methane, filling up a large portion of its massive propellant tanks. Just the latest in a line of several tests involving wet dress rehearsals (WDR) completed in the days prior, this test would soon become exceptional. About an hour and a half after work began, Starship SN4’s lone Raptor engine ignited and burned for ~3 seconds, marking the first time in history a next-generation SpaceX rocket truly came alive with one of the engines designed to take it all the way to orbit.
In line with tests performed with Starhopper – a low-fidelity, subscale tested that flew twice with Raptor – last year, it would have been business as usual if SpaceX had called it a day and moved on to something else with Starship SN4. Instead, Starship performed another WDR and fired up its Raptor engine for a second time in just 30 hours after SpaceX teams inspected the rocket and cleared it for another round. It’s unknown why two back-to-back static fires were performed but, to be clear, every step Starship SN4 takes forward is a step into uncharted territory. Already, the ship’s next steps could come as soon as Friday, May 8th.
According to CEO Elon Musk, SpaceX’s second Starship SN4 static fire test was completed successfully and actually marked the operational debut of a critical aspect of the next-generation launch vehicle and spacecraft. Known as header tanks, Starship needs two smaller secondary propellant tanks to complement its main tanks, a need driven mainly by the challenges of landing such a large and mobile spacecraft. Smaller header tanks will also make it dramatically easier for SpaceX to insulate cryogenic propellant and ensure it remains liquid over long-duration cruises in space, but safe and reliable landings are a more pressing concern for these early prototypes.
During landing operations, the main benefits smaller header tanks offer are relative ease of pressurization (needed to safely feed Raptor engines) and a much lower risk of issues from sloshing, which can introduce bubbles and voids that can obliterate rocket engines if ingested. Impressively, per Musk, Starship SN4 completed its second static fire test using its internal liquid methane header tank – a sort of bubble attached to the bottom of the main methane tank dome.
Starship’s liquid oxygen header tank is situated at the tip of the conical nose section, a part that all full-scale ships have been tested without thus far. However, the use of the fuel header tank on May 7th means that Starship SN4 already has a functional, plumbed header tank installed, verifying the partial functionality of a critical part of the next-generation launch vehicle. A second static fire will have also provided SpaceX a wealth of extra data about Raptor’s performance while installed on Starship, invaluable at such an early stage of integrated testing.
Two Starship static fires now under its belt, SpaceX removed SN4’s Raptor engine around 12 hours after its second test and returned it to storage at the company’s nearby factory facilities. According to public notices provided by Cameron County, Texas officials, SpaceX’s next Starship SN4 activity is expected to occur on May 8th with backup windows on the 9th and 10th and will involve “cryo testing”.
The most obvious conclusion is that SpaceX – having completed enough static fire testing to verify Starship SN4’s performance – now wants to really put the rocket through its paces with another cryogenic test. Completed on April 26th, the ship’s first cryogenic ‘proof’ test maxed out at around 4.9 bar (70 psi), enough for low-stress hop tests but well short of the sustained pressure needed for orbital spaceflight. While testing singular propellant tanks in the first few months of 2020, Musk revealed that SpaceX was targeting a minimum of 6 bar (~90 psi) for orbital Starship flights – ~8 bar (115 psi) with a 25% safety factor.
The company actually achieved 8.4 bar with one of its Starship test tanks, the same processes of which were used to build Starship SN4, but a full-scale ship has yet to demonstrate those pressures. Now, SpaceX already has a fifth full-scale prototype (Starship SN5) likely just a week or so away from pad readiness, meaning that Starship SN4’s potential destruction during pressure testing wouldn’t have a big impact on plans for a series of imminent flight tests. If SN4 survives pressure testing, it would likely have its Raptor engine reinstalled and move on to a 150m (500 ft) hop test.
Tesla (NASDAQ: TSLA) reports its earnings for Q3 today. Here’s what to expect, as the company will reveal its balance sheet after the market closes on Wednesday.
Tesla already reported deliveries just after Q3 ended, and it demolished Wall Street consensus estimates of roughly 462,000 vehicles. Tesla delivered 486,532 cars in the third quarter, which was a big beat, but was down 2.1 percent from the same quarter last year. Energy storage deployments were 13.7 GWh, up year-over-year.
Tesla showrooms picked clean ahead of Q3 end as demand looks strong
For the quarter, analysts have already compiled their predictions for what Tesla will report this afternoon:
- Total Revenues: $28.34B
- Non-GAAP EPS: $0.43
- Operating Margin: 2.5%
- Operating Income: $721M
- Free Cash Flow: ~-$4.51B
Here are a few things we are looking forward to hearing about on the call:
Automotive Gross Margin and Overall Profitability
This was 16.3 percent in Q2, down from 19.2 percent in Q1, and was impacted by warranty charges and some fading regulatory credits. Consensus implies overall gross margin near 18 percent, but a miss here would potentially reinforce concerns about pricing pressure on its vehicles.
Pay attention to energy storage margins as well, especially since Tesla missed GWh expectations, although it was still a strong quarter.
Robotaxi/Cybercab, Unsupervised FSD, and Optimus Progress
The Say questions from retail investors usually focus on these types of projects, and this quarter is no different. Scaling the Cybercab fleet beyond Austin amid the open NHTSA safety review, timeline for Unsupervised FSD in customer cars, Robotaxi unit economics, and Optimus cost per unit plus when it could start generating revenue, are all things to be looking for.
Any concrete timelines or regulatory path details will likely move the stock more than the near-term numbers. SpaceX merger speculation, which was detailed during SpaceX’s earnings call last night, may also surface, although the key details were shared last night.
Elon Musk just confirmed the Tesla and SpaceX merger step everyone was waiting for
Say Investor Questions
- How does the Cybercab fleet scale past Austin, and what’s the regulatory path outside Texas given NHTSA’s open safety review?
- When can we anticipate FSD unsupervised in customer cars?
- When will the CyberCab be available for customer purchase/ownership?
- What’s the unit economics per paid robotaxi mile, and how does it compare to the thirty-cent target?
- Tesla has acknowledged that HW3 vehicles cannot support unsupervised FSD. When will owners know whether they can upgrade their hardware for free, and when will Tesla provide a clear plan?
The full Earnings Call will be streamed this evening after market close around 5 p.m. this evening.
SpaceX confirmed the date of Starship’s 15th launch window with some massive ambitions for the mission, as it will attempt to catch Ship for the first time.
CEO Elon Musk confirmed during SpaceX’s Earnings Call last night on October 20 that it would launch Starship for its 15th test flight in November, and there are some incredible things the company wants to try, making it perhaps the most groundbreaking launch in the program’s history.
SpaceX delivers blockbuster Q3 results as Super Intelligence segment booms
The most major development of the call was SpaceX’s intention to catch Ship alongside catching the Super Heavy Booster, something that has happened in the past. SpaceX showed an animation of the Ship catch, which will be done on the launch tower’s chopsticks:
SpaceX has released a new Starship tower catch animation for the upcoming Flight 15! https://t.co/kStn01Da8u
— Truthful🛰️ (@Truthful_ast) October 20, 2026
This monumental goal is to catch both the Ship and Booster in a dual-catch scenario, an incredible feat since SpaceX has never been able to reuse a Ship after launch. Musk said it would be “the first time that an orbital launch vehicle has been fully recovered,” and said it would be a “profound technology milestone.”
Musk said the odds of success on this first Ship catch attempt are “more likely than not,” but SpaceX is ultimately prepared for more tries moving forward. The SpaceX frontman said that, starting next year, Starship would have a “steady stream” of flights through the end of the year.
The cadence will accelerate in 2027, with Musk stating the company plans to target weekly flights in the first half of 2027 and twice-weekly by year-end.
The Flight 15 attempt follows that of Flight 14, which took off in late September and was Starship’s first orbital mission. It deployed 26 Starlink V3 satellites, accomplished a controlled ocean splashdown of both stages, and shed more light on potential challenges for the program moving forward.
As of now, the Starship program is firing on all cylinders.
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Wall Street analysts rapidly raised price targets on SpaceX (NASDAQ: SPCX) after the company reported a bullish third quarter for 2026 following the market close on October 20. Shares were sent sharply higher in after-hours and premarket trading.
SpaceX posted revenue of $14.6 billion, a 161 percent year-over-year increase that comfortably topped consensus estimates, which fell near $12.7 billion. The company also posted a net profit of $4.4 billion from a prior-year loss, with adjusted EBITDA reaching $8.8 billion.
More price target movement:
🚀 Cantor Fitzgerald lifted its target to $345 from $246 (Overweight).
🚀 Barclays raised its target to $300 from $254 (Overweight).
🚀 Citi increased its target to $240 from $200 (Buy),
🚀 UBS moved to $230 from $210 (Buy)
🚀TD Cowen raised its target to $224 from $200 (Buy).
🚀Morgan Stanley held an Overweight rating with a $300 target.
🚀Other firms also adjusted higher, including Wells Fargo (to $274 from $214) and Clear Street (to $248 from $217). Analysts broadly cited the strong quarterly print, accelerating AI compute expansion, Starlink progress, and Starship milestones as drivers of higher long-term growth and earnings power.— TESLARATI (@Teslarati) October 21, 2026
Its Super Intelligence (AI) division generated roughly $7.6 billion and became the largest revenue contributor, growing nearly 830 percent year-over-year, while the Connectivity segment delivered $5.2 billion on strong subscriber additions that lifted the consumer base to 13.6 million for Starlink.
The Earnings Call proved especially catalytic, as CEO Elon Musk and CFO Bret Johnsen outlined Q1 2027 revenue guidance of $33 billion to $37 billion, which was far above the roughly $22 billion analysts had modeled, alongside fourth-quarter capital-expenditure plans of $35 billion to $40 billion focused on AI compute infrastructure at sites including Memphis and Southaven.
SpaceX delivers blockbuster Q3 results as Super Intelligence segment booms
Management targets 2.5 to 3 gigawatts of nameplate compute capacity by year-end and discussed pathways to 13 gigawatts or more by the end of 2027. Musk described relentless demand from hyperscalers and other customers, with compute pricing supporting payback periods of less than a year and potentially as short as six months.
Additional highlights included Starship’s recent orbital success and V3 satellite deployment, Starlink pricing and enterprise momentum, rapid Grok Bot adoption, spectrum expansion plans, and the formation of special committees to explore a possible combination with Tesla.
These elements prompted a wave of price-target increases:
- JPMorgan more than doubled its target to $500 from $240 while maintaining an Overweight rating.
- Cantor Fitzgerald lifted its target to $345 from $246 (Overweight).
- Barclays raised its target to $300 from $254 (Overweight).
- Citi increased its target to $240 from $200 (Buy),
- UBS moved to $230 from $210 (Buy), and
- TD Cowen raised its target to $224 from $200 (Buy).
- Morgan Stanley held an Overweight rating with a $300 target.
- Other firms also adjusted higher, including Wells Fargo (to $274 from $214) and Clear Street (to $248 from $217). Analysts broadly cited the strong quarterly print, accelerating AI compute expansion, Starlink progress, and Starship milestones as drivers of higher long-term growth and earnings power.
Shares, which closed at $147.79 on October 20, jumped roughly 8 percent in early premarket trading on October 21 as investors digested the results and the newly elevated Street targets.
The average analyst price target has moved higher, which reflects greater conviction in SpaceX’s trajectory across launch, connectivity, and the Super Intelligence business, even as elevated spending remains a point of focus.
Tesla reports Q3 Earnings today: here’s what to expect
SpaceX confirms Starship 15 launch window with massive ambitions
