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SpaceX’s West Coast drone ship begins Panama Canal transit on journey to Florida (or Texas)
After traveling more than 3500 miles (5600 km), SpaceX autonomous spaceport drone ship (ASDS) Just Read The Instructions (JRTI) began its eastbound transit of the Panama Canal on August 18th, placing the vessel roughly two-thirds of the way to its unknown destination.
As previously discussed on Teslarati, JRTI’s move came as a bit of a surprise and it’s still anyone’s bet if the SpaceX recovery vessel heads for Texas or Florida immediately after exiting the Panama Canal. Nevertheless, JRTI’s presence at either (or, more likely, both) possible destinations arguably centers around the imminent demands of a planned ramp of SpaceX’s Starlink satellite constellation launch cadence, as well as an equally imminent need for recovery assets to support the first suborbital Starship test flights.
On July 31st, JRTI departed Port of Los Angeles – its home for the last four years – under tow behind tugboat Alice C. The duo arrived at the Canal on August 15th and, after a several-day wait in a large passage queue, the drone ship and its paired tugboat are finally on their way through the canal, although traffic still remains high and another day (or several) of waiting is likely in order.
After successfully making it through the first half of the transit, JRTI and Alice C are currently waiting in line while westbound traffic is routed through. That wait will likely last hours, not days, (hopefully) allowing JRTI to exit the canal on Tuesday or Wednesday, leaving drone ship free to head towards its final destination.
JRTI has two possible destinations: Port of Brownsville, Texas or Port Canaveral, Florida. Both options are roughly 1800 mi (3000 km) from the Panama Canal’s western mouth and, extrapolating from the first major leg of the journey, should take Alice C around 8 days to tow JRTI across the finish line. Barring mishaps, the drone ship should thus be able to arrive at its new home sometime in the final week of August – roughly August 27th to the 31st.
To the East, to the Gulf
As previously discussed on Teslarati, there are good cases to make for both potential drone ship destinations. On the East Coast, SpaceX’s plans to ramp up its internal Starlink launch cadence could require multiple drone ship to prevent those ambitions from seriously impacting the company’s commercial launch manifest. The readiness of one or two of the payloads is uncertain, but SpaceX has anywhere from seven to nine Falcon 9 launches scheduled in Q4 2019, requiring a cadence significantly higher than SpaceX’s activity in the first half of 2019.
At the same time, extrapolating from SpaceX’s H1 2019 cadence (1.33 launches per month), more than doubling that average cadence to 3 launches per month in the final quarter seems ambitious, at a minimum. SpaceX has achieved six-launch quarters several times in the last few years, likely a reasonable expectation for Q4 2019. In short, this is all to say that SpaceX has made do with one drone ship in the past while hitting similar launch cadences, meaning that the need for JRTI at Port Canaveral is probably not urgent.
On the Gulf Coast, SpaceX has established a Starship development facility in Boca Chica, Texas, just a handful of miles north of the southernmost tip of Texas. A full-scale, low-fidelity prototype known as Starhopper completed its first test flight on July 25th and is likely just days away from a second test flight. Meanwhile, SpaceX Boca Chica is simultaneously assembling what CEO Elon Musk has described as the “Mk1” orbital Starship prototype and is making spectacularly rapid progress.
Musk recently tweeted that SpaceX’s Mk1 Starship and a second parallel build – Starship Mk2 – could be ready for their first (suborbital) flights as early as late-September or October, followed by one of the spacecraft’s first orbital launch attempt an incredibly ambitious “2-3 months after” the first test flight. Per additional statements from Musk in 2018 and 2019, SpaceX plans to subject either or both of its Mk1 and Mk1 Starships to a high-altitude, high-velocity test program before proceeding to orbital launch attempts.
Said extreme testing could easily involve Starship traveling on high suborbital trajectories dozens or even hundreds of miles above Earth’s surface, potentially demanding an ocean-going landing platform far downrange. Given that Starship is in its very early stages of integrated development, any downrange assets (i.e. JRTI) needed for test flights will need to be very flexible, as Starship launch attempts could easily slip days or weeks with little to no notice.
Best of both worlds
Although pitting options against each other is entertaining and has its uses, the fact remains that once drone ship JRTI has passed through the Panama Canal, traveling from, say, Florida to Texas or vice versa is far less arduous a journey than the trip from Port of LA. In other words, moving JRTI between Port of Brownsville and Port Canaveral every few months should be very little trouble, easily allowing the drone ship to service both Gulf and East Coast recovery needs.
Given that SpaceX’s next Falcon 9 launch is believed to be no earlier than late-October, it’s not even out of the question that JRTI will stop in Brownsville for one month or several before heading to Port Canaveral as SpaceX attempts to complete a very busy Q4 2019 launch manifest. Stay tuned…
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Tesla has finally clarified the situation regarding the viral crash in Texas where a Model 3 slammed into a home.
CEO Elon Musk replied to reports on Monday that stated the crash was due to the company’s Full Self-Driving or Autopilot suite, which seemed unlikely to those who are familiar with it. Video showed the car slamming into a house at an excessive rate of speed, making it highly unlikely the crash was due to the suite’s operation, as it does not travel at those speeds in residential areas.
Musk said:
“This makes no sense. FSD drives slowly through neighborhood streets, and this was a high-speed crash!”
Tesla’s Head of AI, Ashok Elluswamy, added context, revealing that the company’s data shows the driver “manually overrode self-driving by pressing the accelerator all the way to 100%.”
He revealed the speed reached by the car was 73 MPH, and the accelerator was still pressed “even after the crash.”
Yup. In this case, the driver manually overrode self-driving by pressing the accelerator all the way to 100% of the accel pedal in this residential area. They reached a speed of 73 mph during the crash, and had the accelerator pressed even after the crash.
— Ashok Elluswamy (@aelluswamy) June 22, 2026
Authorities are reportedly investigating “whether Tesla’s Autopilot system played a role after a Model 3 left the roadway…slammed through a brick house at high speed and fatally struck Matha Avila as she sat inside,” the New York Post reported.
The National Highway Traffic Safety Administration (NHTSA) is now investigating the crash. Tesla will work with the agency to provide them with whatever information they need in order to clarify the cause of the crash.
Similarly, Tesla had claims of a fatal accident in Harris County, Texas, a few years ago. Early reports indicated that Full Self-Driving was the cause of the crash. After the National Transportation Safety Board (NTSB) worked with Tesla, the agency proved there was “no use of the Autopilot system at any time during this ownership period of the vehicle, including the time frame up to the last transmitted timestamp on April 17, 2021.”
Tesla alleged “driverless” crash in Texas: What is known so far
“Application of the accelerator pedal was found to be as high as 98.8 percent,” the NTSB said in their findings. The highest recorded speed in the five seconds leading up to the impact was 67 miles per hour. The area where the crash occurred is residential, and Texas State laws have default speed limits of 30 MPH in residential streets.
This appears to be a similar situation. However, an investigation will prove what happened for sure.
SpaceX announced today that it commenced its first-ever public bond offering, marking a significant step in the newly public company’s capital markets strategy.
The company announced an offering of senior unsecured notes expected to raise at least $20 billion.
The move comes just a short time after SpaceX completed one of the largest initial public offerings in history. In mid-June, the company priced shares at $135 and raised more than $85 billion, propelling founder Elon Musk’s net worth past the trillion-dollar mark and giving the firm substantial liquidity.
🚨 SpaceX has announced its inaugural offering of senior unsecured notes.
The net proceeds will be used to repay outstanding loans under its bridge loan facility in full.
This inaugural debt offering represents a financing milestone for SpaceX, which previously depended… pic.twitter.com/pcOZuVbTRv
— TESLARATI (@Teslarati) June 22, 2026
According to the company’s SEC filing, the net proceeds from the notes will be used primarily to repay in full the outstanding borrowings under its existing bridge loan facility, cover related fees and expenses, and fund general corporate purposes. The offering is being conducted under Rule 144A, as well as Regulation S, targeting qualified institutional buyers and non-U.S. investors. Notes will be unsecured obligations ranking equally with other unsubordinated debt.
The $20 billion bridge loan was used to refinance approximately $17.5 billion in higher-cost “junk” debt tied to X and xAI. SpaceX had merged with xAI in February 2026 in an all-stock deal. The bridge facility, which matures in September 2027, had represented the bulk of SpaceX’s long-term debt.
SpaceX officially acquires xAI, merging rockets with AI expertise
In connection with the bond launch, SpaceX disclosed it held approximately $100.8 billion in cash and cash equivalents as of June 19. Investor calls began on the announcement date, with pricing and launch expected shortly thereafter. Rating agencies have assigned investment-grade ratings to the proposed bonds, reflecting confidence in SpaceX’s dominant position in commercial launches and the growth trajectory of its Starlink internet offering.
The debt raise also allows SpaceX to optimize its balance sheet by replacing short-term, higher-cost bridge financing with longer-date, lower-cost fixed-income securities. This provides greater financial flexibility to support capital-intensive initiatives, including the development of Starship, the expansion of the Starlink constellation, and the integration of AI capabilities following the xAI combination.
SpaceX shares (NASDAQ: SPCX) fell sharply on the news, dropping over 16 percent overall on the market on Monday. The stock had surged initially after debuting but pulled back amid profit-taking and broader market dynamics.
Overall, the bond offering underscores SpaceX’s transition to a mature public company with access to diverse funding sources. It positions the firm to pursue its long-term vision of multiplanetary expansion and AI infrastructure, while maintaining a disciplined approach to its capital structure in a high-growth but capital-heavy industry.
SpaceX confirmed today that it has officially signed its third massive compute deal, providing compute at its Colossus data center in Southaven, Mississippi.
Reflection AI will gain immediate access to NVIDIA GB300 chips at SpaceX’s Colossus 2 data center. In return, Reflection will pay SpaceX $150 million per month starting on July 1, with total payments reaching approximately $6.3 billion if the contract runs through its duration, which is until 2029. Either party can terminate the agreement with 90 days’ notice after the initial three-month period.
CNBC first reported the deal.
🚨 SpaceXAI has agreed to a new compute deal with Reflection AI.
Reflection gets access to NIVIDIA GB300s, and will pay $150M per month to SpaceXAI for the compute. pic.twitter.com/bNPare8U5u
— TESLARATI (@Teslarati) June 22, 2026
This latest partnership highlights SpaceX’s strategy of commercializing its massive Colossus supercomputing infrastructure, originally developed to power Elon Musk’s Grok AI models. The company has rapidly expanded its customer base in the AI sector following its February 2026 merger with xAI, a transaction that valued the combined entity at $1.25 trillion.
SpaceX has previously signed significant compute deals with other major players.
It granted Anthropic exclusive access to the full capacity of its Colossus 1 data center, which exceeds 300 megawatts and includes over 220,000 NVIDIA GPUs. Details from SpaceX’s IPO filings indicate Anthropic will pay $1.25 billion per month through May 2029, potentially generating around $45 billion over the term of the deal.
Additionally, Google agreed to pay SpaceX $920 million per month for compute capacity from October 2026 through June 2029. This 32-month period will provide Google access to roughly 110,000 NVIDIA GPUs, along with supporting processors and memory. Capacity ramps up through September at a reduced fee, with termination options after the first year.
SpaceXA also established arrangements for computing power with Cursor, an AI coding startup. SpaceX acquired them in a $60 billion all-stock deal.
These arrangements position SpaceX’s collective position as an AI infrastructure powerhouse with high-margin revenue potential. The Google deal alone could generate nearly $29.5 billion over its term, while the Reflection contract adds another $6.3 billion.
Combined with the Anthropic arrangement, SpaceX stands to realize tens of billions in revenue from compute leasing in the coming years, which diversifies beyond SpaceX’s traditional rocket launches and Starlink operation.
The deals underscore growing demand for advanced AI training and inference capacity amid chip shortages and surging model development needs. Reflection, valued at $25 billion and focused on “American open intelligence” with government and national security ties, cited recent restrictions on closed models as validation for open-source approaches.
For SpaceX, the partnerships transform capital-intensive data centers into flexible revenue sources while supporting its broader AI ambitions after the company has gone public.
Tesla finally clarifies fatal Texas crash, confirms driver manually overrode acceleration
SpaceX makes $20 billion move to optimize its balance sheet
