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SpaceX preparing for third Starship ‘full stack’
SpaceX appears to be preparing Starship 20 and Super Heavy Booster 4 for their third ‘full stack’ demonstration after two seemingly successful tests in August 2021 and February 2022.
The first, completed in early August 2021, was mostly for show and saw SpaceX stack the unfinished prototypes with a giant crane – fighting the coastal winds throughout. After just a few hours stacked, Ship 20 was removed and returned to Starbase, where workers spent several more weeks (mostly) finishing the prototype. Booster 4 followed suit several weeks later and ultimately took another three months of work to reach some level of test readiness.
After Ship 20 and Booster 4 completed a series of tests in the last few months of 2021 and early 2022, the two were re-stacked in mid-February – once again for show. This time, the stacked Starship served as a backdrop for SpaceX CEO Elon Musk’s first official Starship presentation in more than two years. However, despite the fact that neither prototype was actually tested during the second stack, SpaceX did use the opportunity to partially debut Starbase’s ‘orbital launch integration tower’ and used that towers trio of giant arms to lift, stack, and stabilize Starship S20 on top of Super Heavy B4.
Ship 20 was ‘destacked’ with the tower’s arms just a few days after Musk’s event – an undeniably rapid and impressive achievement for the first real use of the ‘chopstick’ arms but still far from demonstrating that Ship 20, Booster 4, or the orbital launch site (OLS) are ready for orbital test flights. Since then, however, Starbase’s launch facilities have admittedly been almost as busy as they’ve ever been with Starship and Super Heavy cryoproof tests.
Ship 20 completed its first basic OLS cryogenic proof test or ‘cryoproof’ just two days after it was destacked. Additional Starship S20 cryoproofs followed on February 17th (the day after), February 22nd, and March 3rd. Super Heavy B4 completed its own cryoproofs on February 18th and March 1st, the latter of which may have actually been the fullest a Starship booster has ever been filled. All told, SpaceX completed no less than six major B4/S20 cryoproof tests in 15 days.
Crucially, all six cryoproofs were performed with Starbase’s nascent orbital tank farm, thoroughly testing its storage and distribution capabilities. Additionally, because SpaceX began liquid methane deliveries on February 13th, some of those tests – particularly with Ship 20 – may have even been proper wet dress rehearsals, meaning that SpaceX may have filled the rocket(s) with liquid methane (LCH4) and liquid oxygen (LOx) propellant to replicate preparations for a real launch.
At a minimum, Super Heavy Booster 4’s oxidizer tank was fully filled with liquid oxygen – and possibly pressurized with hot gaseous oxygen – during its March 1st cryoproof, while its fuel tank was filled about two-thirds of the way either with liquid nitrogen (LN2) or methane. Prior to its February and March tests, Booster 4 had already completed three cryoproofs – some also using LOx – in December 2021. Ship 20 had completed a cryoproof and four static fire tests.
All told, short of finally performing a full Super Heavy wet dress rehearsal and static fire at the orbital launch site, it’s not all that clear what more SpaceX can derive from additional individual cryoproof testing of Ship 20 or Booster 4. Several things do still need to be demonstrated, however. First, the OLS launch tower has yet to use its arms to remotely install a Super Heavy on the orbital launch mount. More importantly, SpaceX has yet to use the launch tower and its swinging ship umbilical arm to cryoproof or fuel a Starship while stacked on top of a Super Heavy. Finally, SpaceX has also yet to simultaneously perform a cryoproof or wet dress rehearsal test of a stacked Starship and Super Heavy, which will be necessary for orbital test flights.
One or several of those to-be-completed tests may be why SpaceX appears to have begun preparing to install Ship 20 on top of Booster 4 for the third time. On March 14th, Starship S20 was moved towards the launch tower and on March 15th, the ship was slotted between its ‘chopstick’ arms. Based on stack #2, the ship could be lifted at any point – day or night – and installed on top of Super Heavy in a matter of hours.
Elon Musk
SpaceX (SPCX) IPO is live today at $135: Here’s exactly what you need to know
SpaceX priced its historic IPO at $135 per share today, raising a record $75 billion.
SpaceX officially priced its initial public offering at $135 per share, offering 555,555,555 shares of Class A common stock and raising $75 billion in what is the largest IPO in stock market history. Shares are set to begin trading on the Nasdaq Global Select Market on Friday, June 12, under the ticker symbol SPCX. The previous record holder was Saudi Aramco’s 2019 offering at $29 billion, followed by Alibaba’s $22 billion offering in 2014.
At $135 per share and roughly 555.6 million shares, the implied valuation sits near $1.75 trillion, which would make SpaceX roughly the seventh largest company in the United States, just above Tesla’s current market cap. Regular investors can request shares at the IPO price through Robinhood, Fidelity, Charles Schwab, SoFi, and E*TRADE, though the deal is heavily oversubscribed and most retail allocations will be partial or unfilled. Once trading opens June 12, anyone with a brokerage account can buy SPCX on the open market.
SpaceX’s amended S-1 is sparking a major Tesla merger conversation
The valuation is anchored primarily by Starlink. Starlink crossed 10 million subscribers as of February 2026 and is adding 750,000 to 1.5 million new users per month, with the connectivity segment already posting a $1.19 billion profit last quarter. The offering also bundles in xAI following SpaceX’s all-stock merger earlier this year, adding Grok and the Colossus supercomputer to the investment thesis. As Teslarati reported, Starlink ended 2025 with $10 billion in revenue, a figure analysts project could reach $24 billion by end of 2026.
Wedbush analyst Dan Ives has been vocal in his support. “I think the time is right,” Ives said, adding that the offering expands the Elon Musk ecosystem rather than competing with Tesla. An average 12-month price target of $165 per share represents roughly 22% upside from the IPO price. Not everyone agrees – Motley Fool noted xAI is spending $1 billion per month playing catch-up to OpenAI and Anthropic.
Musk founded SpaceX in 2002 with a single stated purpose. “Elon founded SpaceX with a goal to change humanity, to make us a multi-planet species,” CFO Bret Johnsen said in the company’s retail roadshow video this week. Musk himself has been more direct: “We are building the systems and technologies necessary to provide global connectivity on Earth and beyond, to understand the true nature of the universe, and to extend the light of consciousness to the stars.”
Investor's Corner
Tesla unfolded its first European “folding Supercharger”
Tesla’s folding Supercharger just arrived in Europe and it changes how fast charging expands.
Tesla’s Folding Unit Supercharger has officially landed in Europe, with the company teasing a new installation in its effort for a broader rollout targeting major motorway rest stops across the European continent in Q3 2026. The arrival marks a notable shift in how Tesla is thinking about network expansion, moving from hardware performance alone to engineering the logistics chain itself.
While Tesla did not reveal the exact location for the new folding Supercharger in Europe, the photo shared on X heavily suggests that this maybe somewhere in Norway. Historically, whenever Tesla rolls out an entirely new infrastructure architecture in Europe, whether it was the original Supercharger stalls years ago or these brand-new modular V4 “Folding Units”, Norway is almost always the designated launch pad because of its unmatched EV adoption rate and supportive infrastructure
The Folding Unit, introduced in March 2026, is a factory pre-assembled V4 charging station built on an industrial hinge system mounted to a heavy-duty concrete base. The entire assembly arrives on site ready to unfold and connect. Tesla confirmed the units feature telescopic light poles specifically designed for easy transportation and fast on-site deployment, a detail that signals how carefully the logistics chain has been engineered alongside the hardware itself. The design allows 33% more stalls per delivery truck, cuts installation time roughly in half, and reduces overall deployment costs by more than 20% compared to traditional installations.
Tesla’s newest “Folding V4 Superchargers” are key to its most aggressive expansion yet
Tesla also noted telescopic light poles which provide benefits over traditional Supercharger installations that require fixed-height poles that are awkward to ship, slow to position on site, and often require separate crews and equipment to erect before charging hardware can even be staged. By engineering poles that compress for transit and extend on arrival, Tesla has removed one of the quieter bottlenecks in the physical deployment process. Every hour saved on a light pole installation is an hour redirected toward getting stalls energized. At scale, across dozens of new sites per quarter, those hours add up to a meaningful acceleration in how quickly a location goes from approved permit to serving its first customer.
Each Folding Unit pairs a single V4 power cabinet with eight charging posts. The V4 cabinet delivers up to 500 kW per stall for passenger vehicles and up to 1.2 MW for the Tesla Semi, supporting twice the stalls per cabinet at three times the power density of its predecessor. Longer cables make every new station immediately usable by non-Tesla vehicles, a priority as Tesla continues opening its network to Ford, GM, Rivian, Hyundai, Stellantis, and others.
As Teslarati reported when the Folding Unit was first unveiled, Tesla’s Gigafactory New York produced its final V3 Supercharger cabinet in March 2026 after more than seven years and 15,000 units, completing a full pivot to V4 production. The European arrival of the folding design is the next chapter in that transition.
Faster and cheaper deployment means Tesla can justify building in markets and corridors that were previously too expensive to serve, filling the coverage gaps that have slowed EV adoption outside major urban centers.
First Folding Unit Superchargers in Europe 🇪🇺 https://t.co/KNfYWJukkL pic.twitter.com/YR1udIpH1i
— Tesla Charging (@TeslaCharging) June 10, 2026
Tesla has stunned by gaining yet another approval for its Full Self-Driving suite in Europe, its second in two days and its fifth overall.
Belgium will be the latest country to allow Tesla owners to utilize FSD on public roads in Europe, joining a quickly growing list that started with the Netherlands, Lithuania, and Estonia.
On Tuesday, Denmark announced its approval of the FSD suite, which has now been followed by Belgium just one day later.
The country’s Minister of Mobility, Annick De Ridder, announced the approval on her X account, stating that she had just signed the approval of Tesla FSD. It now goes to the country’s homologation department for the last step of the approval process.
De @Tesla community houdt hier al geruime tijd de vinger aan de pols over de toelating voor de FSD-technologie op onze Vlaamse en Belgische wegen.
Uit waardering voor jullie niet-aflatende interesse (en aanmoediging 😉), krijgen jullie hierbij de primeur: ik heb net de toelating… pic.twitter.com/Yrps4OHTj8— Annick De Ridder (@AnnickDeRidder) June 10, 2026
The Belgian approval is one of mighty importance because it truly shows how quickly countries in Europe could greenlight the FSD suite consecutively. Approvals are already coming in relatively quickly, which is a great sign.
Perhaps the next big development that could come from FSD approvals in Europe is an approval from a country like England, Italy, France, Spain, or Germany. It would be something to see how FSD would perform in a major European metro, such as London, Barcelona, Madrid, Paris, Rome, or Berlin.
Getting Full Self-Driving in Spain and England will be such huge milestones for Tesla. I am so excited to see how FSD performs in Madrid, Barcelona, and London, specifically.
The ultimate test will always be Mumbai or New Delhi. Excited for India’s eventual approval! https://t.co/paw9Ch1qmL pic.twitter.com/9RdDERVSSJ
— TESLARATI (@Teslarati) June 9, 2026
Full Self-Driving does an excellent job of roaming around major U.S. cities like New York and Los Angeles, but other high-profile international cities of significance would truly mark a line in the sand for Tesla, which can simply enable any vehicle in its customer-owned fleet to run FSD with the correct approvals.
SpaceX (SPCX) IPO is live today at $135: Here’s exactly what you need to know
Tesla unfolded its first European “folding Supercharger”
