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SpaceX’s first Cargo Dragon 2 recovery delayed by Atlantic Ocean weather
Update: The first undocking, orbital reentry, and splashdown of SpaceX’s upgraded Dragon 2 cargo spacecraft was aborted by NASA ground controllers minutes before the process was scheduled to begin. According to NASA, weather in the preferred recovery zone – off the coast of Daytona Beach, Florida – was to blame.
“As a result of adverse weather conditions at the targeted splashdown zone off the coast of Daytona Beach, Florida, SpaceX has waved off today’s planned departure of an upgraded SpaceX Dragon resupply spacecraft. Teams are currently assessing weather conditions to determine the next opportunity for undocking.”
NASA – January 11th, 2021
SpaceX’s upgraded Cargo Dragon spacecraft is just a day or two away from its first International Space Station (ISS) departure, Earth reentry, and ocean splashdown.
The uncrewed Dragon capsule (known as C208) and its expendable trunk section are currently scheduled to depart from the ISS no earlier than the morning (EST) of January 12th – set to be the first time an uncrewed US cargo spacecraft autonomously undocks from the orbital outpost. Previous US cargo vehicles – including SpaceX’s own Cargo Dragon – have relied on berthing, rendezvousing with the ISS and hovering close by while a giant robotic arm was used to capture and secure each spacecraft.
Cargo Dragon 2 wont be the first outright to do so: the uncrewed European ATV and Russian Progress vehicles both used the Russian Docking System (RDS) to deliver cargo to the ISS over the last two decades. However, Dragon’s CRS-21 departure will be the first time an uncrewed cargo spacecraft completes a full mission with the help of NASA’s new International Docking Adapter (IDA), as well as an IDA’s third round-trip use ever.
In fact, SpaceX is solely responsible for the four total uses of the Space Station’s twin IDA ports – both fittingly delivered by Cargo Dragons in 2016 and 2019. In March 2019, Crew Dragon – flying without astronauts on its Demo-1 mission – became the first spacecraft ever to autonomously dock with and undock from an IDA port. In May and August 2020, a separate Crew Dragon spacecraft repeated the feat, autonomously docking and undocking with two NASA astronauts onboard.
In November 2020, SpaceX launched Crew Dragon on its first operational ferry mission with four astronauts. The spacecraft safely docked to the ISS and is scheduled to remain there until at least March or April 2021. Most recently, SpaceX launched its first Cargo Dragon 2 on December 6th, 2020, and the spacecraft docked without issue a day later. Now scheduled to undock as early as January 12th, a successful departure, reentry, and splashdown will truly mark the start of a new era of autonomous SpaceX spacecraft.
Unlike the largely manual berthing method used by Japanese HTV, Orbital ATK Cygnus, and SpaceX Cargo Dragon spacecraft, SpaceX’s Crew Dragon and Cargo Dragon 2 vehicles took advantage of IDA’s mechanical differences to heavily automate the cargo and crew delivery process. Using LiDAR, cameras, complex software, SpaceX’s new Dragons effectively dock themselves, ultimately requiring less training and work for the station astronauts that would otherwise need to manually support berthing operations.
Used to support refrigerated or otherwise power-intensive cargo, Cargo Dragon 2 features twice as many “powered lockers” as its predecessor and is scheduled to return an impressive ~2360 kg (5200 lb) of cargo – including dozens of science experiments – to Earth. More than a decade after Dragon became the first private spacecraft to successfully reenter Earth’s atmosphere, Cargo Dragon is still the only spacecraft in the world capable of delivering substantial cargo from Earth to orbit and from orbit to Earth.
After detaching from its expendable trunk section and reentering Earth’s atmosphere, Cargo Dragon C208 will also become the first cargo spacecraft to splash down in the Atlantic Ocean or Gulf of Mexico thanks to SpaceX’s decision to consolidate its California and Florida Dragon recovery operations on the East Coast.
Also used to recover Crew Dragons, SpaceX ship GO Searcher departed Port Canaveral for its central role in CRS-21’s imminent splashdown. Once Cargo Dragon C208 splashes down at one of four available recovery zones, SpaceX recovery teams will grab and secure the spacecraft and open its hatch. Uniquely time-sensitive cargo can then be transferred to a waiting helicopter for an unprecedentedly rapid return to researchers back on land,
Stay tuned for SpaceX and NASA’s live coverage of Cargo Dragon 2’s first ISS departure and recovery on January 12th or 13th.
Elon Musk has firmly denied recent media reports suggesting that SpaceX has reduced its target valuation for an upcoming initial public offering.
The denial came directly from the SpaceX and Tesla frontman on his social media platform X, where he responded with a single word, “False,” to a post from ZeroHedge that cited Bloomberg sources.
This swift rebuttal underscores Musk’s ongoing effort to manage speculation surrounding one of the most anticipated market debuts in recent history.
False
— Elon Musk (@elonmusk) May 29, 2026
According to the disputed reports, SpaceX had lowered its IPO valuation goal to at least $1.8 trillion from previous ambitions exceeding $2 trillion.
The claims emerged amid growing anticipation for the company’s confidential S-1 filing, which positions it for a potential public listing as early as June.
Some had pointed to strong revenue growth, particularly from the Starlink satellite internet service, which contributed heavily to the firm’s 2025 figures of $18.7 billion. Yet challenges persist in other areas, including substantial investments and losses tied to ambitious projects like Starship development and artificial intelligence initiatives, which plan to make life multiplanetary eventually.
Musk’s response highlights a pattern in which he actively counters what he views as inaccurate portrayals of his companies’ trajectories.
SpaceX, already valued privately at extraordinary levels, stands as a cornerstone of Musk’s empire alongside Tesla and xAI. The entrepreneur has long emphasized the transformative potential of reusable rockets and global broadband access, factors that fuel investor enthusiasm despite operational hurdles.
By rejecting the valuation downgrade narrative, Musk signals confidence in SpaceX’s fundamentals and its readiness for public markets on terms favorable to its long-term vision. People have been waiting a very long time to invest in SpaceX, and the valuation, as well as the introductory share price, is not going to need adjusting.
They’ll have plenty of suitors.
This episode reflects broader dynamics in the technology sector, where rumors often swirl around high-profile entities. Musk’s direct engagement with media narratives serves to maintain transparency and control the narrative around his ventures.
As SpaceX prepares for greater scrutiny in public markets, the founder’s denial reinforces optimism about its prospects. Supporters argue that the company’s innovative edge positions it for enduring success, far beyond short-term valuation debates. With the denial now public, attention turns to forthcoming regulatory filings that could provide clearer insights into SpaceX’s strategy and financial health.
The coming weeks promise to reveal more about how SpaceX will transition into a publicly traded powerhouse.
Tesla’s dreams of operating a fully autonomous ride-hailing platform just took a massive step toward reality, as two separate events have indicated the company is perhaps closer than ever to achieving self-driving as a product.
On Thursday, Tesla was granted authorization by the State of Texas to operate driverless vehicles in a commercial manner. On May 28, Senate Bill 2807, passed by the 89th Texas Legislature, took effect after being passed back on September 1, 2025.
The bill establishes a statewide regulatory framework requiring authorization from the Texas Department of Motor Vehicles for companies to operate automated vehicles commercially on Texas roads.
This covers driverless, or SAE Level 4+, operations for passenger transport, meaning Robotaxi, or freight.
Tesla and other companies can self-certify their vehicles and tech as long as they:
- Operate in compliance with Texas traffic laws
- Maintain proper registration, title, and insurance
- Use compliant automated driving systems
- Record onboard activity and handle system failures and glitches safely.
The new authorization, which was first reported by James Stephenson on X, allows companies to utilize their own processes to determine if their vehicles are ready to operate without drivers.
🚨BREAKING:
Tesla has been authorized by the State of Texas to operate driverless vehicles commercially under the new law that took effect today, May 28th, 2026. Tesla has officially self-certified the software running on its robotaxis as Level 4. $TSLA pic.twitter.com/KSJdsvlaW5— James Stephenson (@ICannot_Enough) May 28, 2026
It is a rule that expedites the entire approval process, keeping agencies out of a usually long, lengthy, and frustrating task that is essential to technological advancements. It essentially means Tesla can launch commercial Robotaxi operations at this point.
On the very same day, Tesla continued the momentum as CEO Elon Musk shared a video of Cybercab units autonomously driving off the property at Gigafactory Texas. This is a major step in the story of the Cybercab.
Mass production of the Cybercab started at Giga Texas in April, and it is already heading out of the factory on its own.
Cybercab driving itself out of the GigaTexas factory pic.twitter.com/EwAMVVDjYy
— Elon Musk (@elonmusk) May 28, 2026
These two major events mark a drastic step forward in Tesla’s progress toward Cybercab and the permissions it needs to operate a self-driving ride-hailing service. Tesla is now able to operate autonomously under Texas law by self-certifying, and with the potentially imminent rollout of Cybercab, Tesla’s autonomous dreams are starting to take serious shape.
Elon Musk
The Tesla and SpaceX merger everyone is talking about is quietly building
Tesla and SpaceX may be closer to merging than Wall Street or either company is admitting.
Elon Musk has reportedly discussed merging Tesla and SpaceX with people close to him, according to CNBC, which cited sources familiar with the conversation. Tesla employees have long expected such a transaction and the topic is openly discussed internally, according to internal sources. With SpaceX is days away from kicking off its Wall Street roadshow for what could be the largest IPO in market history, this would be the first time the company will have public market currency to execute a stock-for-stock deal with Tesla.
The financial logic for a merger would make sense. A combined SpaceX and Tesla would create a conglomerate spanning rockets, satellites, electric vehicles, AI infrastructure, and energy storage valued at roughly $3.35 trillion to $3.6 trillion based on SpaceX’s IPO target range and Tesla’s current market capitalization. The two companies are already more intertwined than most people realize. SpaceX bought $697 million worth of Tesla Megapack systems for xAI data centers and $131 million worth of Cybertrucks. Tesla invested $2 billion in xAI, which subsequently merged with SpaceX. Past transactions also include Tesla selling solar equipment and parts to SpaceX, and SpaceX helping with Cybertruck materials.
Will Tesla join the fold? Predicting a triple merger with SpaceX and xAI
Musk himself signaled where this was heading in November 2025 when he posted on X, “My companies are, surprisingly in some ways, trending towards convergence.” Tesla and SpaceX announced a joint semiconductor fabrication facility in Austin called Terafab on the Gigafactory Texas campus, covering two advanced chip factories, with one serving Tesla’s AI needs for vehicles and Optimus robots, the other targeting space-based data centers under SpaceX’s infrastructure vision.
Wedbush analyst Dan Ives places the probability of a merger at 80% to 90% with a target completion in the first half of 2027. The mechanics of a deal became possible the moment SpaceX filed its S-1. Legal experts said a merger likely would not spark antitrust issues but would raise concerns among shareholders in each company, with questions around which company would be the parent, how a stock swap would take place, and who determines the appropriate price. Musk holds about 20% of Tesla’s equity but controls 85.1% of SpaceX’s voting power through a super-voting share class, meaning he would largely be negotiating the terms with himself.
Not everyone is convinced the timing is imminent. Traders on Kalshi place only 33% odds that a merger will happen before May 2027. The more immediate concern for Tesla shareholders is whether the SpaceX IPO pulls capital and Musk’s attention away from Tesla before any merger consolidates the upside for both.
What is clear is that the structural groundwork is already being laid. The Terafab announcement, the xAI merger, the shared supply chain, the cross-company balance sheet transactions, and now the IPO all point in the same direction. Whether the merger follows in 2027 or later, the two companies are already operating more like divisions of a single entity than independent competitors.
Elon Musk strikes down reports on SpaceX IPO rumors
Tesla’s Robotaxi dreams just took a massive step toward reality
