SpaceX
SpaceX’s Mr Steven preps for “claw” upgrade for football field-sized net
Photos from Teslarati photographer Pauline Acalin show that SpaceX’s Mr. Steven fairing recovery vessel is undergoing extensive upgrades to the arms that secure the catch net, likely in support of what CEO Elon Musk described as a factor-of-four extension of the net’s catching area.
In order to accomplish that fourfold increase in usable area, SpaceX will have to effectively double the reach of Mr Steven’s four ‘limbs’, a significant change that explains why the vessel appears to have had all four arms amputated. Intriguingly, the vessel’s upgrades are taking place at SpaceX’s recently-leased Berth 240, the company’s preferred location for berthing its fleet of rocket recovery vessels, conducting Falcon 9 booster recovery ops, and -eventually – the first Mars rocket factory in 2019.
As of now, it’s unclear what approach SpaceX will take for upgrading Mr Steven’s arms – with only one detached example visible at Berth 240, it appears that the company will either add on to the hardware already built for the boat or start from scratch in order to optimally extend their reach. A new net, of course, will also be needed to span the fourfold increase in area – in other words, up to roughly 6000 square meters, 65,000 square feet, or 1.5 acres. I have little doubt that SpaceX will be able to reliably catch Falcon 9 payload fairings with a net as large or larger than American and European football fields (~1.3 acres vs. ~1.7 acres).
An artist rendering of a Falcon 9 fairing parasailing towards Mr Steven’s net. Original photos by Chuck Bennett (Instagram @chuckbennett) and SpaceX. (Chuck Bennet/SpaceX/Eric Ralph)
SpaceX’s has roughly four weeks until their next West coast launch and thus another opportunity to attempt to catch a Falcon 9 payload fairing. That mission is currently scheduled for early July 20th from Space Launch Complex 4E (SLC-4E) in Vandenberg Air Force Base. Teslarati’s West coast photographer will continue to check up on Mr Steven to judge whether the vessel will be ready in time for launch.
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- One of Mr Steven’s four amputated arms, removed in preparation for upgrades. (Pauline Acalin)
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- A sad Mr Steven sits beside Berth 240, sans arms. (Pauline Acalin)
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- Berth 240 demolition begins! (Pauline Acalin)
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- A Falcon 9 fairing overlooks SpaceX’s Berth 240 construction progress, June 20th. (Pauline Acalin)
BFR factory construction
Meanwhile, serious demolition has begun at Berth 240, likely preparing a number of basic necessities before any major building begins. A giant pile of broken concrete lays witness to that process, likely involving the appraisal, repair, and replacement of utilities and pipe systems currently buried under the facility. Forlorn Falcon 9 payload fairings – pulled intact out of the Pacific Ocean – can be seen stoically looking on while construction crews begin the first steps of a process that will, at least eventually, culminate in the completion of a factory for the rocket that will obsolete Falcon 9, Falcon Heavy, and their fairings.
Based on land use approvals published in March 2018, the construction will be cut into two phases, with phase one focusing on a smaller, intermediary building capable of support limited Falcon recovery work and potentially initial BFR prototype construction, allowing that process to be moved from the temporary tent it currently is housed in. Phase 2 would see a larger build constructed around the preceding facility, necessitating the demolition of one of Berth 240’s historic buildings. Per the filings, Phase 1 is expected to be finished within 16-18 months of approval, placing its completion sometime in mid to late 2019.
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- Note the fencing around the actual foundation site for SpaceX’s proposed BFR factory. (Pauline Acalin)
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- Renders of the proposed BFR factory at Berth 240. (SpaceX)
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- Blueprints of the proposed BFR factory at Berth 240. (SpaceX)
Investor's Corner
SpaceX IPO is coming, CEO Elon Musk confirms
However, it appears Musk is ready for SpaceX to go public, as Ars Technica Senior Space Editor Eric Berger wrote an op-ed that indicated he thought SpaceX would go public soon. Musk replied, basically confirming it.
Elon Musk confirmed through a post on X that a SpaceX initial public offering (IPO) is on the way after hinting at it several times earlier this year.
It also comes one day after Bloomberg reported that SpaceX was aiming for a valuation of $1.5 trillion, adding that it wanted to raise $30 billion.
Musk has been transparent for most of the year that he wanted to try to figure out a way to get Tesla shareholders to invest in SpaceX, giving them access to the stock.
He has also recognized the issues of having a public stock, like litigation exposure, quarterly reporting pressures, and other inconveniences.
However, it appears Musk is ready for SpaceX to go public, as Ars Technica Senior Space Editor Eric Berger wrote an op-ed that indicated he thought SpaceX would go public soon.
Musk replied, basically confirming it:
As usual, Eric is accurate
— Elon Musk (@elonmusk) December 10, 2025
Berger believes the IPO would help support the need for $30 billion or more in capital needed to fund AI integration projects, such as space-based data centers and lunar satellite factories. Musk confirmed recently that SpaceX “will be doing” data centers in orbit.
AI appears to be a “key part” of SpaceX getting to Musk, Berger also wrote. When writing about whether or not Optimus is a viable project and product for the company, he says that none of that matters. Musk thinks it is, and that’s all that matters.
It seems like Musk has certainly mulled something this big for a very long time, and the idea of taking SpaceX public is not just likely; it is necessary for the company to get to Mars.
The details of when SpaceX will finally hit that public status are not known. Many of the reports that came out over the past few days indicate it would happen in 2026, so sooner rather than later.
But there are a lot of things on Musk’s plate early next year, especially with Cybercab production, the potential launch of Unsupervised Full Self-Driving, and the Roadster unveiling, all planned for Q1.
News
SpaceX reportedly mulling IPO, eyeing largest of all time: report
“I do want to try to figure out some way for Tesla shareholders to participate in SpaceX. I’ve been giving a lot of thought to how to give people access to SpaceX stock,” Musk said.
SpaceX is reportedly mulling an initial public offering, eyeing what would be the largest valuation at the time of availability of all time, a new report from Bloomberg said on Tuesday.
It is one of many reports involving one of Elon Musk’s companies and a massive market move, as this is not the first time we have seen reports of an IPO by SpaceX. Musk himself has also dispelled other reports in the past of a similar nature, including an xAI funding round.
SpaceX and Musk have yet to comment on the report. In the past, untrue reports were promptly replied to by the CEO; this has not yet gained any response, which is a good sign in terms of credibility.
However, he said just a few days ago that stories of this nature are inaccurate:
“There has been a lot of press claiming SpaceX is raising money at $800B, which is not accurate. SpaceX has been cash flow positive for many years and does periodic stock buybacks twice a year to provide liquidity for employees and investors. Valuation increments are a function of progress with Starship and Starlink and securing global direct-to-cell spectrum that greatly increases our addressable market. And one other thing that is arguably most significant by far.”
There has been a lot of press claiming @SpaceX is raising money at $800B, which is not accurate.
SpaceX has been cash flow positive for many years and does periodic stock buybacks twice a year to provide liquidity for employees and investors.
Valuation increments are a…
— Elon Musk (@elonmusk) December 6, 2025
Musk has discussed a potential IPO for SpaceX in recent months, as the November 6 shareholder meeting, as he commented on the “downsides” of having a public company, like litigation exposure, quarterly reporting pressures, and other inconveniences.
Nevertheless, Musk has also said he wants there to be a way for Tesla shareholders to get in on the action. At the meeting in early November, he said:
“I do want to try to figure out some way for Tesla shareholders to participate in SpaceX. I’ve been giving a lot of thought to how to give people access to SpaceX stock.”
Additionally, he added:
“Maybe at some point., SpaceX should become a public company despite all the downsides of being public.”
Musk has been historically reluctant to take SpaceX public, at times stating it could become a barrier to colonizing Mars. That does not mean it will not happen.
Bloomberg’s report cites multiple unidentified sources who are familiar with the matter. They indicate to the publication that SpaceX wants to go public in mid-to-late 2026, and it wants to raise $30 billion at a valuation of around $1.5 trillion.
This is not the first time SpaceX has discussed an IPO; we reported on it nine years ago. We hope it is true, as the community has spoken for a long time about having access to SpaceX stock. Legendary investor Ron Baron is one of the lucky few to be a SpaceX investor, and said it, along with Tesla, is a “lifetime investment.”
Tesla bull Ron Baron reveals $100M SpaceX investment, sees 3-5x return on TSLA
The primary driver of SpaceX’s value is Starlink, the company’s satellite internet service. Starlink contributes 60-70 percent of SpaceX’s revenue, meaning it is the primary value engine. Launch services, like Falcon 9 contracts, and the development of Starship, also play supporting roles.
SpaceX reached an incredible milestone with its Starlink program with a launch last night, as the 3,000th satellite of the year was launched into low Earth orbit.
On Monday, SpaceX also achieved its 32nd flight with a single Falcon 9 rocket from NASA’s Kennedy Space Center.
The mission was Starlink 6-92, and it utilized the Falcon 9 B1067 for the 32nd time this year, the most-used Falcon booster. The flight delivered SpaceX’s 3000th Starlink satellite of the year, a massive achievement.
There were 29 Starlink satellites launched and deployed into LEO during this particular mission:
Falcon 9 launches 29 @Starlink satellites from Florida pic.twitter.com/utKrXjHzPN
— SpaceX (@SpaceX) December 9, 2025
SpaceX has a current goal of certifying its Falcon boosters for 40 missions apiece, according to Spaceflight Now.
The flight was the 350th orbital launch from the nearby SLC-40, and the 3,000 satellites that have been successfully launched this year continue to contribute to the company’s goal of having 12,000 satellites contributing to global internet coverage.
There are over five million users of Starlink, the latest data shows.
Following the launch and stage separation, the Falcon 9 booster completed its mission with a perfect landing on the ‘Just Read the Instructions’ droneship.
The mission was the 575th overall Falcon 9 launch, highlighting SpaceX’s operational tempo, which continues to be accelerated. The company averages two missions per week, and underscores CEO Elon Musk’s vision of a multi-planetary future, where reliable connectivity is crucial for remote work, education, and emergency response.
As Starlink expands and works toward that elusive and crucial 12,000 satellite goal, missions like 6-92 pave the way for innovations in telecommunications and enable more internet access to people across the globe.
With regulatory approvals in over 100 countries and millions of current subscribers, SpaceX continues to democratize space, proving that reusability is not just feasible, but it’s also revolutionary.
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