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SpaceX Starship fires up three Raptor engines in prelude to high-altitude flight
Update: At 1:21am CDT (6:21 UTC) on October 20th, Starship SN8 ignited all three of its Raptors’ preburners, producing a spectacular fireball noticeably larger than the one produced during the rocket’s first October 19th preburner test. A mere two hours later, with no break in between, the steel rocket prototype fully ignited all three Raptor engines for the first time ever, likely producing thrust equivalent to ~90% of a nine engine Falcon 9 booster for a brief moment.
Crucially, aside from physically demonstrating Raptor’s multi-engine capabilities, Starship SN8 – already a first-of-a-kind prototype – completed and survived a static fire seemingly unscathed on its first attempt. If the data SpaceX gathers from the milestone is as good as the test appeared to be, the company could be just a few days away from installing Starship SN8’s recently-stacked nosecone, followed by a second triple-Raptor static fire test. If that second static fire goes well, SN8’s next task will be the first high-altitude Starship flight test.
Minutes after an adjacent highway was scheduled to reopen, SpaceX’s first high-altitude Starship prototype – serial number 8 – attempted what was likely the first multi-engine Raptor test ever.
At 6:01 am, October 19th, Starship SN8’s trio of Raptor engines were barely unleashed, producing a large fireball indicative of a ‘preburner’ ignition test. One of the most complex rocket engines ever developed, Raptor relies on a maximally efficient but temperamental “full-flow staged combustion” cycle (FFSC), a concise name for the many, many steps required to turn liquid propellant into thrust.
Adding additional difficulty, Raptor’s full-flow staged combustion necessitates ignition of gaseous oxygen and methane in the combustion chamber. Given that the Raptor-powered Starship spacecraft and Super Heavy booster exclusively use cryogenic liquid methane and oxygen, a major challenge posed by FFSC is the need to efficiently turn that ultra-cold propellant into hot gas almost instantaneously. This is where gas generators (or preburners) come in.
In a full-flow staged combustion engine, both oxidizer and fuel require their own separate turbopumps, which then require their own preburners to create the pressures needed to power those turbopumps and the gas the combustion chamber ignites to produce thrust. A step further, to enable high combustion chamber pressure like Raptor’s 300+ bar (~4400+ psi), those preburners need to produce gas at far higher pressures to account for energy losses as those gases wind their way through the engine’s plumbing.
As a result, preburners are possibly the single most stressed system in an engine like Raptor. Unsurprisingly, this has often lead SpaceX to separately test each engine’s preburners as a sort of partial static fire before the actual engine ignition test. This is the test Starship SN8 attempted in the early morning on October 19th, representing Raptor’s very first multi-engine ignition event.
Curiously, moments before preburner ignition, one of the three Raptor engines appeared to command an aggressive jet-like vent of liquid oxygen identical to a vent seen just a few hours prior during the first aborted preburner test. There’s thus a chance that only two of SN8’s three Raptor engines successfully started their preburners
Raptor is the first FFSC engine in the world to fly and – as far as the duration of lifetime testing and volume production goes – is almost certainly the most advanced of the three FFSC programs to graduate to static fire tests. In other words, given that SN8’s test campaign is the first time SpaceX has ever attempted to operate multiple adjacent Raptor engines at the same time, it’s not a huge surprise that progress towards the first three-engine static fire has been cautious and halting. Mirroring its Sunday/Monday testing, SpaceX will put Starship SN8 through another preburner and/or static fire attempt between 9pm and 6am CDT (UTC-5) on October 19/20. Even more 9-6 test windows are scheduled on October 21st and 22nd.
Meanwhile, not long after Starship SN8’s first preburner test was completed, SpaceX teams rolled a section of five steel rings inside a small windbreak and stacked the first truly functional nosecone – already outfitted with forward flaps – atop it. If Starship SN8 survives its first full triple-Raptor preburner and static fire tests, that new nosecone will likely be rolled to the launch pad for in-situ installation, topping off the rocket ahead of a spectacular 15 km (~50,000 ft) flight 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
