News
SpaceX wins US Air Force contract for Falcon Heavy launch
In an unexpected bode of confidence in the nascent vehicle, SpaceX has competed for and won a $130 million US Air Force launch contract for the massive Falcon Heavy rocket. While not planned to occur until September 2020 at the earliest, the most critical aspect of this development is the fact that the USAF has apparently already certified Falcon Heavy for high-value military launches.
The almost knee-jerk certification of Falcon Heavy for USAF launches makes for an extraordinary contrast when compared with the certification of SpaceX’s Falcon 9 workhorse rocket, a tedious political minefield that took more than two years, led SpaceX to (successfully) sue the federal government, and forced the Air Force to critically reexamine its internal processes after they delayed SpaceX’s certification by six or more months. For that particular endeavor, the USAF required SpaceX to complete three successful Falcon 9 launches, while also preventing SpaceX from engaging in launch contract competitions until their launch vehicle was certified in May 2015.
#SpaceX has won a competitively-awarded #AirForce launch contract for the AFSPC-52 flight. The mission will utilize a #FalconHeavy rocket. Mission will launch by Sept. 2020 from LC-39A at Kennedy Space Center. Statement from Gwynne Shotwell below… pic.twitter.com/a5ka2ov20L
— Chris G (@ChrisG_SpX) June 21, 2018
Jump ahead to 2018 and SpaceX appears to have been allowed to compete for this particular mission – known cryptically as AFSPC-52 – before Falcon Heavy had so much as completed an integrated static fire test. The awe-inspiring rocket did, however, complete a nearly-flawless debut launch in February 2018, a mission that required the company’s Falcon upper stage to survive a lengthy (6+ hour) coast in orbit before igniting its Merlin vacuum engine for one final burn. Regardless of the specifics, many of which have likely been kept under wraps, the Air Force must have been quite impressed with the rocket’s debut performance, and Falcon Heavy has now – according to President and COO Gwynne Shotwell – been certified for USAF missions just four months later.
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- Falcon 9 Block 5 completed its first launch on May 11, carrying the Bangabandhu-1 communications satellite to geostationary transfer orbit. (Tom Cross)
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- Falcon Heavy clears the top of the strongback in a spectacular fashion. Two of the rocket’s three manifested missions are now for the USAF. (Tom Cross)
It’s somewhere between difficult and impossible to accurately compare the different payloads and launches of the Air Force Space Command (AFSPC), but SpaceX’s only competitor ULA was awarded a contract for the launch of two relatively different AFSPC payloads at an average (fixed) cost of $175 million per mission. Those satellites were likely much smaller than AFSPC-52 but they require direct insertion into geostationary orbit (GEO), whereas AFSPC-52 may instead be sent to a geostationary transfer orbit (GTO) before circularizing the orbit under its own power.
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Still, SpaceX’s triple-booster Falcon Heavy launch contract will cost the USAF a slim $130m. It’s worth noting that the 2018 AFSPC-8 and -12 contracts awarded to ULA were for the company’s single-booster Atlas 5 rocket, with most of the draw coming from its admittedly advanced, efficient, and extraordinarily reliable Centaur upper stage, tasked with reigniting repeatedly to circularize the orbit of its valuable satellite payloads once in space.
While it requires far less rigor than the Air Force’s more secretive, national security-sensitive satellite launches, SpaceX’s second Falcon Heavy launch – this time with three highly-reusable Block 5 boosters – will also be conducted with the military branch as the primary customer. Known as Space Test Mission-2 (STP-2), Falcon Heavy will be tasked with carrying a stack of dozens of different smallsats to a variety of orbits. Of note, the vast majority of that mission’s payload comes in the form of a 5000-kilogram ballast mass, included because the mission was manifested on Falcon Heavy (instead of the operational Falcon 9) for the sole purpose of facilitating the rocket’s rapid certification for critical Air Force missions.
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- Falcon Heavy may look for more condensed than Delta Heavy, but its performance dramatically outclasses the ULA rocket in all but the highest-energy mission profiles. (SpaceX)
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- The fully-integrated Falcon Heavy rolls out to Pad 39A. For vertical integration, think of this… but vertical. (SpaceX)
STP-2 is currently scheduled for no earlier than (NET) November 2018, while the third launch of Falcon Heavy – the commercial Arabsat 6A communications satellite – is tentatively targeted for December, although it’s almost guaranteed to slip into Q1 2019.
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Elon Musk
The Boring Company’s newest tunnel vehicle runs on Tesla parts and no one is driving it
The Boring Company’s new tunnel vehicle runs on Tesla Model 3 batteries and drive units.
The Boring Company just introduced a new piece of hardware, and it runs on parts pulled straight from a Tesla showroom. Liner Truck 3, unveiled in a post from the tunneling company’s official X account, is an all electric vehicle built around Tesla Model 3 battery packs and drive units, purpose built to move concrete tunnel segments to the boring machine face without a single person underground.
Introducing Liner Truck 3 — our latest fully electric tunnel vehicle.
– Tesla Model 3 battery and drive units
– Transports 22,000+ lb of concrete segments to the boring machine
– 28 miles of range
– 12 mph max operating speed
– Remotely piloted from Global OCC in Texas, with… pic.twitter.com/XB7FgSXnpy— The Boring Company (@boringcompany) August 7, 2026
The job itself is unglamorous but critical. Each precast segment run weighs more than 22,000 pounds, roughly the load of a full cement mixer, and Liner Truck 3 hauls that weight repeatedly between the surface staging area and wherever the Prufrock machine happens to be cutting.
The Boring Company said Liner Truck 3 is piloted remotely out of its Global Operations Control Center in Texas, extending the Zero-People-In-Tunnel approach the company has spent years building toward. An earlier version of a ZPIT liner truck was already tested at the company’s Bastrop, Texas research tunnels, and a factory tour released last month showed an employee flying a fully loaded liner truck with a PlayStation controller. Liner Truck 3 looks like the production version of that same idea, cleaned up and pushed into daily use.
The timing lines up with a company digging in more places than it ever has before. The Boring Company now has multiple Prufrock machines active or arriving in Nashville, where Music City Loop construction has been accelerating since February, and its Vegas Loop network keeps adding tunnel mileage on a near monthly basis. Every one of those projects depends on getting concrete segments to the cutting face fast enough to keep the boring machine from idling, which is exactly the bottleneck Liner Truck 3 is designed to remove.
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It also reinforces something Tesla owners have watched happen gradually across Musk’s companies: passenger car hardware finding a second life in heavy equipment. Model 3 drive units already move people through the Vegas Loop, and now the same components are hauling concrete underground in Nashville and wherever The Boring Company digs next. Whether that kind of component reuse extends further into TBC’s equipment lineup, or into other Musk owned industrial hardware, is the next thing worth watching.
SpaceX stock did the opposite of what most of Wall Street expected this week, when the day designed to be its most dangerous turned into a rally, and the rally kept going.
Thursday marked the first major lockup expiration since SpaceX’s June IPO, making roughly 911.5 million insider held shares eligible to trade for the first time, more than doubling the company’s public float. Analysts and short sellers had spent weeks bracing for a flood of selling, especially after the stock fell 13 percent following its first earnings report as a public company on Tuesday. Instead, shares rose 6.1 percent Thursday to close at $114.92, and by Friday they were trading near $129, up more than another 12 percent on the day.
SpaceX shorts get warned by Musk ally, echoing Tesla’s early struggles
The setup made the outcome notable. Short interest had climbed to roughly 34 percent of the float heading into earnings, among the highest of any large cap stock, with about 95 percent of available shares to borrow already on loan. CEO Elon Musk warned short sellers twice in the weeks before the lockup, writing on X that “the survival probability of firms who maintain a significant short position in SpaceX over time is very low,” then following up on the morning of earnings with “I try to warn them, but they just double down.”
When the newly unlocked shares hit the market and the selloff never showed up, some of that short position appears to have started unwinding. TipRanks reported that options activity shifted toward bullish strategies like put selling and risk reversals following the rally, with roughly $600 million in options premium trading Thursday alone. Retail buyers also stepped in during the earnings dip, according to Vanda Research.
The fundamentals behind the stock have not changed much in a week. SpaceX’s revenue nearly doubled year over year to $7.8 billion, with Starlink subscribers doubling to 12 million and the company’s AI segment growing 247 percent. What spooked investors on Tuesday was the spending side. Capital expenditures jumped to more than $18 billion for the quarter, up from $2.8 billion a year earlier, with AI investment alone rising from $749 million to $15.8 billion. Wall Street remains split on whether that spending is building infrastructure SpaceX needs or outrunning what the business can currently support, a debate Teslarati has tracked since shares first came under pressure.
None of that resolves the bigger question hanging over the stock. Thursday’s release was only the first of nine staggered lockup tranches, with roughly $800 billion worth of additional shares scheduled to become eligible through October, and Musk’s own stake stays locked until next June. If this week is any indication, the market is treating that supply as something it can absorb rather than something to fear, at least for now.
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News
The Boring Company’s newest Vegas Station has a permit quietly waiting behind it
Sahara Las Vegas opened a new Vegas Loop station, joining an exclusive two resort transit club.
Sahara Las Vegas opened a new Vegas Loop station Thursday, giving The Boring Company’s underground transit system its northernmost stop yet on the Strip. The station sits at Sahara’s Paradise Road entrance, on the southeast corner of Las Vegas Boulevard and Sahara Avenue, and connects riders to the Las Vegas Convention Center, other Strip resorts on the network and, eventually, Harry Reid International Airport.
The addition makes Sahara the second resort, after Fontainebleau opened its own station in January, to get a stop built at street level rather than tucked into the property itself. Sahara now joins Westgate as the only two Strip resorts offering both a Vegas Loop station and a stop on the Las Vegas Monorail, giving guests two separate ways to get around without leaving the property.
The Boring Company just doubled its tunneling power in Nashville
The bigger news buried in Thursday’s announcement is what comes next. Boring Company has already secured its first permit to tunnel north of Sahara Avenue, extending the network beyond where it currently ends, even though permits to push the Loop toward downtown Las Vegas still haven’t been granted. Crews are also working on a two mile dual tunnel line running from Westgate to a planned station at 4744 Paradise Road, just north of Tropicana Avenue, that Las Vegas Convention and Visitors Authority CEO Steve Hill has said the company hopes to open in time for November’s Las Vegas Grand Prix.
Ridership has grown alongside the buildout. The Loop moved roughly 82,000 passengers during CONEXPO in early March, a total the company highlighted on its own X account at the time, and the system has now carried more than 4 million passengers through 11 open stations since it began running in 2021. The airport connector tunnels, meant to give the Loop a direct link to Harry Reid, have slipped past their original first quarter target and remain under construction, with Boring Company director Mike Baier saying that a full opening is still a few months out.
For Sahara, the calculation is straightforward. Convention traffic drives a large share of Loop ridership, and a station at the property’s front door gives conventiongoers one more reason to book rooms on the Strip’s north end instead of closer to the convention center itself.
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The Boring Company’s newest tunnel vehicle runs on Tesla parts and no one is driving it
Elon Musk and SpaceX shrugs off the trading day Wall Street feared most
