SpaceX
SpaceX’s Starship, Starhopper prototypes continue slow and steady progress
The last few weeks of SpaceX’s work on Starship and Starhopper prototypes has been marked by less visible progress relative to the past few months. The changes that are visible, however, confirm that its Boca Chica engineers are working around the clock to complete the first orbital Starship prototype.
At the same time, it appears that SpaceX’s South Texas facilities are preparing for a rapid period of expansion and build-up. New work around the ad-hoc Starhopper pad has recently begun, while construction of a second concrete jig for concurrent prototype fabrication and what will likely be a more permanent hangar and control facility are also ramping up. Things have been quiet news-wise for SpaceX’s McGregor and Hawthorne facilities but there is reason to believe that Raptor production and testing is going smoothly.
And over at its pal’s place, the orbital prototype (and the build-up of another jig)
?@BocaChicaGal
Dedicated Updates: https://t.co/FYHRkwZ2dd pic.twitter.com/glg8Yr6oO6— Chris B – NSF (@NASASpaceflight) April 20, 2019
Starship Alpha
The most obvious visible progress made in April is centers around SpaceX’s first orbital Starship prototype, soon to begin its third month of active construction. As of mid-March, the shells of two large steel barrel sections – together about 18 m (60 ft) tall – were fully erected at the build site, with a handful of other sections in various states of welding. The height of those two cylinders has remained unchanged since then but it’s safe to assume that a ton of work has been going on inside them, invisible to anyone viewing from public perspectives since drones were effectively banned in March. In other words, the two pieces – most likely the barrel sections of Starship’s liquid methane and liquid oxygen (LOX) tanks – are likely being carefully transformed into actual propellant tanks.
There is also a good reason for their height differential: the larger (LOX) section is almost exactly a third larger than the small section (methane) in part because of the physical reality that Starship will need almost exactly 33% more LOX than methane by volume. Large propellant tanks – particularly those meant for cryogenic fluids and spaceflight applications – are often quite complex, with the vast majority of that complexity happening under the hood. The above render was made while SpaceX was still planning on carbon fiber tanks and also appears to be significantly simplified, but it still offers a small look at some of that complexity.
Aside from successfully completing thousands of welds throughout the assembly, a lot of the effort of building an advanced tank is put into plumbing – both internal and external – needed to load, unload, pressurize, depressurize, and generally manage cryogenic (i.e. super cold) liquid propellant. SpaceX decided to utilize a partial balloon tank design to keep the steel skins of its stainless steel Starship and Super Heavy as thin as possible, adding yet another level of internal work due to the need for stringers and longerons on top of baffles and hardware to mount COPVs or header tanks.
Adding further complexity to the internal structure of Starship is the presence of major aerodynamic surfaces and landing legs, both of which will need to survive extreme stresses if they are to function as intended. Those structures must be aerodynamically streamlined and attach to the outside of Starship’s hull, likely requiring significant structural reinforcements both inside the spacecraft’s nose and rearmost propellant tank.
Super Heavy?
SpaceX began construction of a second concrete fabrication jig just a handful of days ago. Effectively a copy of a jig occupied with the larger of the two barrel sections of the orbital Starship prototype, the simple structure acts as a mount and includes a large door that allows scissor lifts to get inside the steel structure. The new jig is being built directly adjacent to Starship’s smaller barrel section, suggesting that it could simply be a way to concurrently work on both the LOX and methane tanks. Given the inherent simplicity of a concrete jig, it could also end up being used to support the simultaneous assembly and integration of the first Super Heavy booster prototype.
Back in December 2018, SpaceX CEO Elon Musk indicated that the first Super Heavy prototype would start production in “spring” (i.e. NET April 2019). Musk has also indicated that Starship and Super Heavy will be simultaneously built both in Boca Chica, Texas and Cape Canaveral, Florida. In general, SpaceX is clearly beginning another round of expansion and improvement for its Boca Chica facilities, including the new concrete jig and an entirely new building on the same plot of land.
Starhopper
Last but not least is SpaceX’s Starhopper prototype. After completing an inaugural round of multiple wet dress rehearsals (WDRs) and two Raptor static fires/hops, SpaceX technicians removed the vehicle’s lone Raptor engine on April 8th. Starhopper has remained more or less inactive in the last two weeks, aside from some work going on inside the vehicle (per the open access hatch).
Without a Raptor engine, there is admittedly not a whole lot that SpaceX can do with Starhopper, aside from additional WDRs if the first handful of tests were not enough. Instead, some minor work has been going on around the Hopper’s ad hoc pad, mainly taking the appearance of dirtmoving. Without aerial views, its hard to tell what exactly is taking shape, but it’s safe to say that Starhopper is simply waiting for additional Raptors to be produced, tested, and delivered to Boca Chica. Once more Raptors are ready, it’s understood that SpaceX will move into multi-engine (likely 3+) hop tests, perhaps loosing Starhopper from its tethers.
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Elon Musk
Elon Musk just upped his Tesla stake further fueling SpaceX merger conversation
Elon Musk just collected a $116 billion Tesla payday and the timing is eye-opening
Elon Musk quietly collected one of the largest single-transaction paydays in corporate history on Monday. A Form 4 filed with the SEC on June 17, 2026 disclosed that Musk exercised 303,960,630 Tesla stock options from his 2018 compensation package, with the transaction dated June 16. No shares were sold on the open market.
The numbers are straightforward but striking. Musk exercised the options at a split-adjusted strike price of $23.34, with Tesla closing at $404.66 that day, putting the spread at $381.32 per share and generating roughly $115.9 billion in paper gains in a single transaction. To cover the exercise cost, Tesla withheld 17,531,857 shares through a net share settlement, meaning Musk paid nothing out of pocket.
For perspective, in 2018, Elon Musk’s award was originally approved by Tesla shareholders on March 21, 2018, and structured entirely around performance milestones that many analysts at the time called unreachable. Every tranche eventually vested. The original grant covered 20,264,042 shares at $350.02, which after Tesla’s 5-for-1 split in 2020 and 3-for-1 split in 2022 adjusted to 303,960,630 shares at $23.34. A Delaware court rescinded the award in January 2024, ruling the board was conflicted. As Teslarati reported, Tesla shareholders voted to ratify the package anyway in June 2024 by a wide margin. The Delaware Supreme Court reversed the decision in December 2025, finding full cancellation too extreme, and Tesla’s board signed an Implementation Agreement on April 21, 2026 to formally deliver the shares.
The Tesla and SpaceX merger everyone is talking about is quietly building
The timing and structure of the Form 4 filing carries more weight than a routine stock option exercise typically would. Musk exercised his 2018 Tesla award on June 16, a week into SpaceX completing its IPO and trading publicly, and giving SpaceX a public market valuation and share currency for the first time in the company’s history. A stock-for-stock merger between two companies requires the acquiring entity to have tradeable shares it can offer to the target’s shareholders, and SpaceX now has exactly that. At the same time, Musk just increased his direct Tesla voting power to approximately 20%, giving him greater influence over any shareholder vote that a merger would require. The restricted shares he received cannot be sold until 2033, which removes any near-term incentive to cash out and instead positions this stake as long-term structural collateral in a deal. Additionally, Musk’s two companies are already deeply intertwined through shared semiconductor fabrication at their joint TERAFAB facility in Austin, cross-company supply chain transactions, and Tesla’s $2 billion investment in xAI prior to the SpaceX-xAI merger.
Wedbush analyst Dan Ives has publicly placed the odds of a Tesla and SpaceX combination at 80% to 90% by early 2027. The Implementation Agreement that made Monday’s exercise possible was signed on April 21, 2026, roughly two months before the SpaceX IPO closed. That sequencing, building Musk’s Tesla ownership to its highest point ever immediately before SpaceX gains the public currency needed to acquire it, is either an extraordinary coincidence or a carefully staged foundation for the largest corporate merger in history.
SpaceX has exercised its option to acquire Cursor, the innovative AI coding company, in an all-stock transaction valued at $60 billion. The deal, announced on June 16, marks a significant step in SpaceX’s expansion into advanced artificial intelligence, building on months of close collaboration between the companies.
Cursor, officially operated by Anysphere, Inc., is an AI-native code editor and coding agent designed to transform software development. Founded in 2022 by a group of MIT graduates in San Francisco, Cursor builds on the familiar foundation of Visual Studio Code but integrates powerful AI capabilities directly into the core experience.
Unlike traditional code editors or simple extensions, Cursor functions as a full “coding agent” that turns natural-language instructions into actionable code.
SpaceX has exercised the option to acquire @cursor_ai in an all-stock transaction with the goal of building the world’s most useful AI models.
For the past few months, SpaceXAI has been jointly training a model with Cursor, which will be released in Cursor and Grok Build soon.… https://t.co/X5mepgXgjJ
— SpaceX (@SpaceX) June 16, 2026
Developers interact with Cursor through features like its Composer agent, which can search entire codebases, edit multiple files, run terminal commands, debug issues, and complete complex multi-step programming tasks autonomously.
Users describe high-level goals, such as “build a scalable API endpoint with authentication,” and the AI plans, implements, tests, and refines the solution while the human oversees decisions. Additional tools include advanced autocomplete (Tab), context-aware chat, and infrastructure for handling billions of daily requests.
The platform has gained considerable traction, surpassing $3 billion in annual recurring revenue by early 2026 and earning adoption by over half of the Fortune 500 companies. Its agentic approach accelerates development dramatically, allowing engineers to focus on architecture and creativity rather than repetitive coding.
The acquisition integrates Cursor’s leading product, expert team of roughly 300 engineers, and distribution network among top software developers with SpaceX’s unparalleled computational resources. SpaceX’s Colossus supercomputer, equivalent to a million H100 GPUs, has already powered joint training of next-generation models. These models are expected to launch soon within Cursor and SpaceX’s Grok Build environment.
This combination positions SpaceX to develop the world’s most capable AI systems for coding and knowledge work. Access to Cursor’s real-world usage data from millions of professional developers provides unparalleled feedback loops for model improvement. Training on Colossus enables rapid iteration on massive datasets, potentially creating AI that outperforms current leaders in reliability, context handling, and complex reasoning.
For SpaceX, the benefits extend far beyond software tools. Rocket engineering, satellite constellation management, autonomous flight systems, and Starship development involve millions of lines of highly specialized, safety-critical code.
Cursor’s AI agents, supercharged by proprietary models trained on SpaceX’s domain expertise, could slash development timelines, reduce errors, and enable faster innovation cycles. This vertical integration of AI tooling strengthens SpaceX’s competitive edge in both aerospace and the broader AI race, complementing its xAI initiatives.
The deal reflects the exploding value of AI-native developer platforms. By owning Cursor outright, SpaceX secures a strategic talent pool and product pipeline that will accelerate internal projects while potentially offering enhanced tools to the wider engineering community. As AI continues reshaping software creation, this acquisition underscores SpaceX’s commitment to leveraging cutting-edge technology for ambitious goals, from Mars colonization to global connectivity.
SpaceX executed its first Falcon 9 launch since going public on June 15, a routine yet symbolically powerful Starlink mission from Vandenberg Space Force Base in California.
Liftoff of the Falcon 9 booster B1093, on its 14th flight, occurred at approximately 8:34 a.m. PDT from Space Launch Complex 4E (SLC-4E), deploying 24 Starlink V2 Mini Optimized satellites into low-Earth orbit.
The first stage successfully landed on the droneship “Of Course I Still Love You” in the Pacific Ocean, underscoring the company’s unmatched reusability track record.
Watch Falcon 9 launch 24 @Starlink satellites to orbit from California https://t.co/meDwb05qOE
— SpaceX (@SpaceX) June 15, 2026
This mission comes just three days after SpaceX’s historic IPO on June 12, which shattered records as the largest ever. The company raised $75 billion by pricing shares at $135, with trading under ticker SPCX on Nasdaq opening at $150 and closing at $160.95—a 19 percent gain—valuing SpaceX at over $2.1 trillion.
The launch highlights the seamless transition from private innovator to public powerhouse. SpaceX, founded in 2002, has revolutionized access to space with over 650 Falcon 9 flights and a massive Starlink constellation now serving millions globally.
As a public company, it faces new pressures: quarterly earnings, shareholder scrutiny, and expectations to accelerate Starship development for Mars ambitions and deeper NASA partnerships. Yet the market response signals strong confidence in its dominance, as launch costs are slashed by 95 percent, rapid satellite deployment, and a backlog of government and commercial contracts.
SpaceX maintains bold advertising push for Starlink, contrasting Tesla’s minimalistic approach
Analysts view today’s flight as business as usual, but it carries extra weight. With shares volatile in early trading days, successful operations reassure investors that core capabilities remain unaffected by public status.
SpaceX now operates under heightened transparency, potentially unlocking capital for ambitious goals like Starship orbital tests and global broadband expansion.
Challenges loom, including regulatory hurdles for megaconstellations, competition in reusable rockets, and orbital debris concerns. Nevertheless, this morning’s flawless execution reinforces SpaceX’s trajectory.
As Musk often notes, the company’s mission—to make humanity multiplanetary—now aligns with Wall Street’s growth demands. The stars, it seems, are aligning for both.
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