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SpaceX just finished its third Starship rocket in two months and a fourth is on the way
SpaceX just rolled a completed Starship prototype to the launch pad for the third time in two months and began stacking the next rocket just hours after its assembly facilities were vacated.
SpaceX began building the latest Starship prototype – known as serial number 4 (SN4) – around March 23rd. Exactly 31 days later, SpaceX lifted the vast steel rocket onto a Roll Lift transporter and carried it roughly a mile down the road to the company’s Boca Chica, Texas test and launch facilities. In just a few hours, technicians lifted the rocket off its transporter and onto a fixed launch mount made out of thick steel beams, expediency made possible partly by the addition of new mounting points and hold-down clamps.
Sitting atop the late Starship SN3 prototype’s salvaged skirt, landing leg, and service section, the fate of Starship SN4 remains to be seen and the path it has taken to the pad is paved with the remains of several former prototypes. For the most part, that should be a positive aspect. Given how apparent it is that SpaceX is very quickly learning from past mistakes, SN4 has the best chance yet of successfully passing its proof tests and graduating into Raptor static fire and (perhaps) flight testing. However, if things don’t go as planned, SpaceX is perhaps just a week or two away from completing the next prototype – Starship SN5.
A few hours after SpaceX lifted Starship SN4 onto its steel launch mount, CEO Elon Musk revealed an aerial photo of the rocket and its pad facilities taken with a drone. Recently painted gray and refurbished to undo damage done by Starship SN3’s April 3rd, that mount is currently configured with a strong metal frame and three powerful hydraulic rams. A nearly identical jig was damaged during SN3’s last test when a minor tsunamic of liquid nitrogen – used to safely simulate ultra-cold and explosive liquid oxygen and methane propellant – washed over the mount after the rocket burst.
Much like an ice cube can violently crack and pop when it rapidly changes temperature, untreated steel (almost always cheaper than the alternative) can also be catastrophically damaged by rapid temperature changes (thermal shock). This appears to be exactly what happened to the first hydraulic ram mount, which had visible cracks in photos taken after Starship SN3’s April 3rd demise.
SpaceX appears to have had no issue at all acquiring a replacement in a matter of weeks and it arrived and was installed several days ago. The purpose of the hardware is relatively simple: simulate the stresses one or three Raptor engines will create when ignited and ensure Starship’s ‘thrust puck’ and engine section can survive those stresses while filled with cryogenic liquid methane.
Each ram attaches to the thrust puck with the same hardware an actual Raptor uses, including the rods each engine needs for thrust vector control (TVC; i.e. active steering). In the event that Starship SN4 passes its cryogenic proof test(s) and engine stress simulation(s) with flying colors, SpaceX has already built, acceptance-tested, and shipped three Raptor engines to Boca Chica, where they are waiting inside an assembly tent for their call to action.
Once a Starship prototype passes acceptance testing and three Raptor engines can be installed, it will be a first for SpaceX’s next-generation rocket engine. For example, if SN4 makes it through testing and is ready to proceed into static fire operations, it will be the first time Raptor has operated in a multi-engine setup – always a significant milestone for any launch vehicle, including SpaceX’s own Falcon 9 and Merlin engines.
In case SN4 does make it to the other side, SpaceX is already prepared with both road closures and NOTAMs (Notices To Airmen) for static fire and hop tests spread out over the next week or so.
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Tesla CEO Elon Musk posted a photo of himself standing with the Optimus production team inside Tesla’s Fremont factory, arms crossed amid workers in hard hats and safety vests. The image captures a pivotal industrial shift: the same facility space once dedicated to building Tesla’s flagship Model S sedan and Model X SUV is now home to the company’s humanoid robot manufacturing line.
Walking the Optimus production line in Fremont pic.twitter.com/ABS0tuRibW
— Elon Musk (@elonmusk) July 1, 2026
Tesla’s Fremont Factory, acquired in 2010 from the former NUMMI joint venture between Toyota and GM, has been the company’s original U.S. manufacturing hub since Model S production began in 2012.
The Model X followed soon thereafter. These premium vehicles offered lower annual volumes, recently around 30,000 combined, compared to the high-volume Model 3 and Model Y lines that continue around the site. Over their combined run, the S and X accounted for roughly 610,000 units.
In late January 2026, during Tesla’s Q4 2025 earnings call, Elon Musk announced the end of Model S and Model X production in Q2 2026. The final vehicles rolled off the line in early May. Rather than retooling for another vehicle, Tesla chose to convert the dedicated S/X assembly area into a dedicated Optimus Gen 3 production line.
Model 3 and Y manufacturing remains unaffected. Tesla’s official Fremont Factory page now lists Optimus alongside the 3 and Y as core products.
The conversion was executed with remarkable speed. After production stopped, crews dismantled the existing vehicle line and installed entirely new modular equipment—including lines sourced from Germany and dozens of sub-lines for actuators, batteries, and other components—in roughly four months.
Musk described the timeline as “insanely fast,” noting it would be unprecedented for any other manufacturer. Initial Optimus output is expected to ramp slowly due to the robot’s roughly 10,000 unique parts and the brand-new production processes involved. The Fremont line targets an eventual capacity of 1 million Optimus units per year.
Tesla isn’t joking about building Optimus at an industrial scale: Here we go
Optimus Development Timeline
- August 19, 2021: Optimus (then called Tesla Bot) formally announced at Tesla’s first AI Day. A concept video showed a person in a suit demonstrating the vision for a general-purpose humanoid capable of dangerous, repetitive, or boring tasks using the same AI architecture as Full Self-Driving.
- 2022: Early prototypes displayed. At the second AI Day in September, semi-functional units demonstrated walking across a stage and basic arm movements
- 2023: September videos showed improved capabilities, including sorting colored blocks, precise limb awareness, and holding a Yoda pose.
- 2024-early 2025: Factory integration videos showed Optimus navigating workspaces and handling objects like battery cells.
- January 2026: Gen 3 mass-production activities began at Fremont, with reports of over 1,000 Gen 3 units already operating inside the factory for real-world learning and AI training
- April 2026: Musk confirms Optimus production on converted Fremont line would begin in late July or August 2026. The Gen 3 reveal, originally eyed for Q1, was pushed closer to production start. A second, much larger Optimus factory at Giga Texas is under construction, with volume production targeted for Summer 2027 and long-term capacity of 10 million units annually
- July 1, 2026: Musk’s on-site visit and team photo confirm the Optimus line is operational and the transition is actively progressing
Tesla positions Optimus as potentially its largest project ever, leveraging vertical integration, AI expertise, and car-like manufacturing know-how to scale humanoid robots first for its own factories and later for broader industrial and consumer use.
The Fremont conversion serves as a critical proving ground for this ambitious new chapter in Tesla’s already-rich history.
Investor's Corner
Tesla gets its latest short from Michael Burry: ‘Happy it jumped back to this level’
Tesla short seller Michael Burry, the subject of the film “The Big Short,” where he was portrayed by Steve Carell, has revealed he has opened a new bet against the stock.
In a new update to his Substack newsletter in a post titled “Trading Post June 30, 2026,” Burry revealed a new set of bets against Tesla, Caterpillar, NVIDIA, Applied Materials Inc., and the iShares Semiconductor ETF.
In regard to Tesla, Burry wrote:
“And finally I shorted Tesla at 416.22. Happy it jumped back to this level.”
This means Burry likely opened his new short position after the company’s recent rally on Wall Street, which saw Tesla shares sink in mid-May, only to recover to well over the $400 mark. Currently, shares trade at around $427.
The company saw a big Tuesday as shares climbed considerably, over 10 percent. The size of the Tesla short was not provided, nor did Burry give any information on the position’s structure, the number of shares, dollar value, or whether options were used in the short.
The Tesla and SpaceX merger everyone is talking about is quietly building
Over the years, Burry has been one of the more vocal critics of Tesla, calling its share price “media inflated,” and saying it was “ridiculously overvalued” as recently as December.
The company has largely transitioned away from being known as an automotive company and instead is much more widely regarded as an AI play, mostly due to its Full Self-Driving efforts, Optimus robot development, and data collection related to both.
This has not pulled those skeptics away from being vocal about their distaste for how Tesla is valued, but there’s no denying that the company is a global force in many things, including sustainable energy, automotive, and AI.
Wedbush Securities is initiating stock coverage on SpaceX (NASDAQ: SPCX), marking the first comments on the company since it went public several weeks ago. Wedbush and its analyst handling coverage, Dan Ives, are widely bullish on fellow Musk company Tesla (NASDAQ: TSLA).
Ives wrote his first note initiating coverage of SpaceX shares on Wednesday with a $190 price target and an ‘Outperform’ rating. The firm believes the company is well positioned off of its IPO because of its wide array of projects, including AI compute power and infrastructure, connectivity projects, and launches.
“We view SpaceX as one of the most differentiated assets within the tech market with a strong footprint across its three core markets, with Starlink driving success with connectivity,” Ives wrote, “Starship launches leading to a demand flywheel and increasing deal flow for its Colossus clusters.”
Elon Musk called it Epic: The full story of SpaceX’s Starship Flight 12
Wedbush leans heavily on Starlink, which they say is the “profitability driver given the strength of its recurring revenue base of ~12 million subscribers as of June 5th.” Ives believes Starlink is still in the “early innings” of penetrating the global telecommunications and broadband market, as it only holds less than a 1 percent share. However, this number is sure to increase over time.
It also highlights the importance of Starship, which it says is an “essential layer” of SpaceX’s overall success. SpaceX developing and displaying the ability to reuse rockets is a major cost and reliability advantage “as it reduces the necessary hardware launch costs while generating a feedback loop for future flights to improve their launch flight rate without accelerating capex spend.”
Finally, SpaceX’s recent AI/Compute projects are also very elementary, Ives writes. It is worth mentioning Wedbush said its $190 price target is derived from a valuation forecast that sees the company yielding roughly $2.48 trillion of implied enterprise value.
There are also some factors that Wedbush did not take into account with its initial coverage. The firm wrote in the note:
“We note that there is optional value coming from Starship’s accelerating scale towards sub-$200/kg unit economics, orbital data centers, and enterprise AI monetization as these factors could drive meaningful upside but these face major hurdles, so we do not take that into account with our valuation.”
SpaceX shares are down just over 2 percent today, trading at around $167 at the time of publication.
Tesla Optimus project fires up as Musk sees production line progress
Tesla gets its latest short from Michael Burry: ‘Happy it jumped back to this level’
