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SpaceX’s next Starship hop a step closer after ‘cryo proof’ test
SpaceX appears to have successfully completed one of three major tests standing between a new Starship prototype and the rocket’s next hop.
Known as a cryogenic proof test (“cryo proof”), signs currently point towards a success on Starship SN6’s first try – albeit an hour or two past the end of the planned test window. The proof was planned between 8 am and 5 pm CDT (UTC-5) on August 16th with identical backup windows on Monday and Tuesday in the event of an abort or delay. Thankfully, in a breath of fresh air after many Starship SN5 test delays, SpaceX had no such need.
With the help of local sheriffs, SpaceX closed the highway around 10:15 am and pressurized Starship SN6 with ambient-temperature gas (likely nitrogen) around half an hour later. As usual, the company took its time while the Starship prototype effectively came to life for the first time. Around 2.5 hours later, the Starship began visibly venting for the first time as it operated dozens of valves to maintain safe tank pressures.
To perform a cryogenic pressure test, SpaceX effectively performs a wet dress rehearsal (WDR) – a test that simulates a full launch flow short of liftoff – with no engine installed. To prevent leaks or hull breaches from turning potentially catastrophic during what is often the first major test of a prototype, SpaceX loads Starship with liquid nitrogen (LN2) instead of liquid methane and oxygen propellant. During that process, Starship’s thin steel skin will quickly drop to arctic temperatures, becoming cold enough that it will literally freeze the water vapor out of any ambient air it comes in contact with.
Around 1 pm local, the first sign of that frost sheath appeared but remained a sliver before disappearing around 2 pm. Starship SN6 then hung around for an hour before testing activities appeared to restart. Close to 5:40 pm, almost an hour after SpaceX’s August 16th window was meant to close, frost reappeared on Starship SN6’s hull and rapidly crept up the side of the massive rocket.
Starship SN5’s own cryo proof test – completed on June 30th – debuted apparent upgrades to SpaceX’s South Texas launch facilities, loading the rocket with hundreds of thousands of gallons of LN2 in 15-20 minutes. The ability to load huge quantities of cryogenic propellant very quickly will be critical for SpaceX, as Starship’s efficiency will decrease substantially as its propellant warms. Along those lines, Starship SN6 became the second prototype to be rapidly loaded with liquid nitrogen, going from nearly empty to nearly full in ~15 minutes.
SN6 detanked over the next hour or so and SpaceX opened the road and had a team back on the pad to inspect the rocket by 7:40 pm. At some point during the test, SpaceX likely actuated hydraulic arms attached to Starship’s engine section to simulate the stresses of Raptor thrust under cryogenic loads. Either way, SpaceX was apparently satisfied with the results of Starship SN6’s first cryo proof and proceeded to cancel two backup windows scheduled on August 17th and 18th – a consistent sign that things either went very right or very wrong.
In the case of SN6, nothing was distinctly amiss or different during its cryo proof, pointing towards a successful test. If that’s the case, SpaceX will begin removing the hydraulic Raptor simulator to install an actual Raptor engine and will scheduled road closures for an imminent static fire test. Prior to that actual Raptor ignition test, SpaceX may choose to perform a wet dress rehearsal (WDR) on its own or partially test Raptor by igniting its preburners to momentarily spin up its turbopumps. The company could also integrate both of those precursor tests into the same window as the static fire itself.
If those tests go according to plan, Starship SN6 could be ready for SpaceX’s second full-scale hop ever just a week (or less) later. CEO Elon Musk says that the company’s current goal is to perform multiple Starship tests until the process is fast, smooth, and consistent.
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Tesla stock (NASDAQ: TSLA) endured one of its sharpest single-day declines in years on July 23, tumbling approximately 14.5 percent and closing near $320 after opening the session around $374. The drop erased more than $140 billion in market value amid heavy trading volume and left the shares at multi-week lows.
The sell-off followed the company’s second-quarter 2026 results, released the previous evening. Tesla reported record revenue of $28.2 billion, up 26 percent year over year, driven by a Q2-record 480,126 vehicle deliveries. Energy storage deployments also rose strongly.
Tesla (TSLA) Q2 2026 earnings results: miss on EPS, beat on revenue
Yet profitability disappointed sharply. Operating income fell 57 percent to $398 million, compressing the operating margin to just 1.4 percent. Non-GAAP earnings per share came in at $0.33, well below the roughly $0.53 analysts had expected. Free cash flow turned negative by $1.1 billion as capital expenditures surged 142 percent to $5.8 billion, largely tied to accelerated spending on artificial intelligence, robotics, and autonomous systems.
The losses on capex were expected, as Tesla said it would be spending heavily in 2026.
Investors also reacted to lingering uncertainty surrounding key product timelines. During the Earnings Call, management reiterated ambitions for Robotaxi deployment and the Optimus humanoid robot, but offered limited new concrete milestones, renewing questions about execution pace that have long accompanied Tesla’s ambitious roadmap.
The magnitude of the decline places it among Tesla’s more severe one-day percentage losses since its 2010 initial public offering. Historically, the two largest single-day drops (split-adjusted) remain September 8, 2020, when shares fell 21.1 percent amid broader market volatility and valuation concerns, and January 13, 2012, with a 19.3 percent plunge during the company’s early growth struggles.
Other notable declines include an 18.6 percent drop on March 16, 2020, at the onset of pandemic-related market turmoil. Thursday’s move ranks roughly ninth on the all-time list but stands out as the steepest in more than a year.
Despite the short-term pain, Tesla’s long-term trajectory has repeatedly recovered from such volatility. The latest results underscore both the strength of its core automotive and energy businesses and the near-term costs of heavy investment in next-generation technologies.
Elon Musk clapped back at France’s decision to withhold the approval for Tesla’s Full Self-Driving (FSD) Supervised system, projecting a clear and blunt message to French Transport Minister Phillippe Tabarot, after he publicly rejected the technology in its current form.
Tabarot outlines several concerns with Tesla Full Self-Driving in a detailed video statement, where he said, “The safety trade-offs are not yet sufficient to authorize it as it currently stands,” he said. He emphasized that FSD is not a true self-driving system and that the driver remains fully responsible.
Key issues Tabarot also brought up included allowing speeding when surrounding traffic exceeds limits and what he believes are insufficient guarantees of driver attention during complex urban maneuvers such as lane changes, intersections, and roundabouts.
Delaying the approval of FSD in France will cost lives
— Elon Musk (@elonmusk) July 22, 2026
While acknowledging technological progress and France’s support for autonomous innovation, Tabarot stressed that deployment must prioritize road safety. He noted ongoing technical discussions with Tesla, the Netherlands, and other European partners, with further ecosystem meetings planned for the fall.
Musk’s rebuke highlights the human cost of regulatory caution. Tesla’s latest safety reports provide compelling data supporting accelerated adoption. In the most recent 12-month period, vehicles using FSD (Supervised) recorded one major collision per approximately 5.1 million miles driven, dramatically better than the U.S. national average of one crash per 698,000 miles.
Even Tesla vehicles driven manually with active safety features outperform the average by a wide margin. These figures come from billions of real-world miles of telemetry, showing FSD vehicles involved in far fewer incidents than both manual Teslas and the broader U.S. fleet.
Critics argue Tesla’s comparisons require careful scrutiny regarding reporting thresholds and fleet demographics, yet the data consistently positions FSD as a potential lifesaver. With road fatalities remaining a leading cause of death worldwide, Musk contends that proven safer technology should not face prolonged bureaucratic hurdles.
France’s measured approach reflects the broader European regulatory caution, which many, especially Musk, have been critical of in the past. However, as autonomous systems from Tesla and competitors like Waymo demonstrate superior safety in independent studies, pressure is mounting for harmonized approvals.
Musk’s warning carries the belief that every month of delay may equate to avoidable tragedies on European roads.
In a striking revelation that underscores the lucrative crossover between Big Tech and space exploration, Alphabet Inc., Google’s parent company, disclosed a massive $94.1 billion equity stake in SpaceX following the rocket company’s blockbuster initial public offering earlier this year.
The disclosure came in Alphabet’s quarterly filing, marking the first time the long-held private investment has been publicly valued at market prices. Google was an early backer, investing alongside Fidelity in 2015 with roughly $500-900 million at a time when SpaceX was valued around $12 billion.
That bet has delivered extraordinary returns, roughly a hundredfold, transforming a strategic play on satellite internet and launch capabilities into one of Alphabet’s largest assets.
Google, $GOOGL, has said they hold $94 billion in SpaceX, $SPCX, shares after IPO.
— unusual_whales (@unusual_whales) July 23, 2026
Of the total holding, approximately $80 billion remains subject to short-term post-IPO lockup restrictions, preventing near-term sales. An additional $14.1 billion faces longer-term restrictions, extending into the third quarter of 2027. This structure limits immediate liquidity but protects against market volatility as SpaceX transitions into public trading.
The SpaceX position contributed significantly to gains in Alphabet’s broader investment portfolio, which also includes a major stake in AI leader Anthropic. Combined, these holdings helped drive nearly $100 billion in investment gains during the second quarter, providing a substantial boost to net income amid ongoing AI spending pressures.
Analysts view the disclosure as validation of Alphabet’s venture strategy beyond its core search and cloud businesses. The investment aligns with deeper ties, including reported multi-billion-dollar deals for AI computing capacity on SpaceX infrastructure. As SpaceX advances Starship flights, Starlink expansion, and ambitious Mars goals under Elon Musk, Google’s stake positions it to benefit from the commercialization of space.
For Alphabet, the windfall highlights how patient, forward-looking bets in transformative sectors can yield outsized rewards. While lockups temper short-term impact, the holding cements SpaceX as a cornerstone of Alphabet’s diversified portfolio in an era where aerospace, AI, and connectivity increasingly intersect. Investors will watch closely as restrictions lift and SpaceX’s public performance unfolds.
Tesla stock tumbles after earnings, one of its sharpest single-day declines
Elon Musk is not happy about this Tesla Full Self-Driving approval delay
