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Tesla provides details on recent Autopilot crash amid NHTSA investigation
Tesla has released its findings about the recent Model S Autopilot crash in South Jordan, Utah. The accident, which involved a Model S crashing into a parked firetruck at 60 mph last Friday, is currently under investigation by the NHTSA. The driver of the Model S, a 28-year-old Lehi woman who escaped the collision with a broken ankle, later stated that the car had been on Autopilot when the accident happened.
Technicians from the electric car company have issued their findings after retrieving the vehicle’s logs. Here are the conclusions from Tesla’s report.
- The driver engaged Autosteer and Traffic Aware Cruise Control on multiple occasions during this drive cycle. She repeatedly canceled and then re-engaged these features, and regularly adjusted the vehicle’s cruising speed.
- Drivers are repeatedly advised Autopilot features do not make Tesla vehicles “autonomous” and that the driver absolutely must remain vigilant with their eyes on the road, hands on the wheel and they must be prepared to take any and all action necessary to avoid hazards on the road.
- The vehicle registered more than a dozen instances of her hands being off the steering wheel in this drive cycle. On two such occasions, she had her hands off the wheel for more than one minute each time and her hands came back on only after a visual alert was provided. Each time she put her hands back on the wheel, she took them back off the wheel after a few seconds.
- About 1 minute and 22 seconds before the crash, she re-enabled Autosteer and Cruise Control, and then, within two seconds, took her hands off the steering wheel again. She did not touch the steering wheel for the next 80 seconds until the crash happened; this is consistent with her admission that she was looking at her phone at the time.
- The vehicle was traveling at about 60 mph when the crash happened. This is the speed the driver selected.
- The driver manually pressed the vehicle brake pedal fractions of a second prior to the crash.
- Contrary to the proper use of Autopilot, the driver did not pay attention to the road at all times, did not keep her hands on the steering wheel, and she used it on a street with no center median and with stoplight-controlled intersections.
In a statement to the Deseret News, South Jordan Police Sgt. Sam Winkler stated that the driver of the electric car had been looking at her smartphone because she was searching for an alternate route.
“She looked up just as the accident was about to happen,” Winkler said.
Police have issued the Model S driver with a traffic citation due to her “failure to keep a proper lookout.” The citation was issued to the Model S driver this Wednesday.
The NHTSA has opened an investigation on the accident on Wednesday as well. In an emailed statement to CNBC News, the NHTSA noted that it is deploying a special investigation team to gather information about the accident.
“Consistent with NHTSA’s oversight and authority over the safety of all motor vehicles and equipment, the agency has launched its special crash investigations team to gather information on the South Jordan, Utah, crash. NHTSA will take appropriate action based on its review,” the NHTSA wrote.
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- The aftermath of the Tesla Model S crash in Utah. [Credit: Good4Utah News]
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- The aftermath of the Tesla Model S crash in Utah. [Credit: Good4Utah News]
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- The aftermath of the Tesla Model S crash in Utah. [Credit: Good4Utah News]
Tesla CEO Elon Musk has commented on the crash through his personal Twitter account, stating that what’s noteworthy about the accident was that the driver of the vehicle only broke an ankle despite crashing into a firetruck at 60 mph. Musk noted that such accidents at such speeds “usually result in severe injury or death.” In a later tweet, however, Musk stated that Autopilot does need to get better.
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It certainly needs to be better & we work to improve it every day, but perfect is enemy of good. A system that, on balance, saves lives & reduces injuries should be released.
— Elon Musk (@elonmusk) May 14, 2018
Tesla’s Autopilot system is a focal point of an ongoing NTSB investigation about a Model X crash near Mountain View, CA. During that incident, the Model X smashed into a bare crash attenuator while traveling at highway speeds, resulting in the tragic loss of its driver. Tesla and the NTSB ultimately parted ways as the investigation proceeded, mainly due to the electric car maker’s release of data pertaining to the crash before the NTSB’s investigation was complete.
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Investor's Corner
SpaceX and Nvidia team up on Musk’s orbital AI bet
SpaceX revealed a new Nvidia satellite partnership, then Musk pledged an exclusive Nvidia hardware commitment.
SpaceX and Nvidia are now working together on the hardware that will power Musk’s orbital data center ambitions. SpaceX announced on X on Tuesday that it is partnering with Nvidia to design the compute payload for Starmind AI1, the first satellite in a planned constellation built to run AI workloads directly in orbit. Each Starmind satellite will carry Nvidia’s Rubin GPUs and Vera CPUs, according to the post, which included renderings of the payload design.
The announcement landed hours before SpaceX’s first earnings call as a public company, where Musk went further, saying the company has committed to building its AI infrastructure exclusively on Nvidia hardware. “We think the Vera Rubin architecture is the best architecture. We think it’s the best AI computer, and we greatly value our close cooperation and partnership on many levels with Nvidia,” Musk told investors on the call,. “So we’re exclusive to Nvidia.”
Musk said SpaceX plans to deploy Nvidia’s Vera Rubin NVL72 rackscale system, codenamed Kyber, both on the ground and in space. He set a target of 2 gigawatts of compute capacity online by the end of this year, scaling to roughly 10 gigawatts by the end of 2027.
SpaceX’s newest Starmind will make earth data centers obsolete
Starmind has been in development since Musk confirmed the name in June, following an xAI trademark filing that tipped off the project before SpaceX made it official. The idea is massive in scope and instead of moving data down to ground based servers, satellites equipped with onboard processors and large solar arrays would compute AI workloads in orbit and beam results back to Earth. SpaceX has already filed with the FCC for a constellation of up to one million satellites to support the effort, citing constant solar power and the absence of zoning restrictions as advantages over terrestrial data centers.
The Nvidia exclusivity marks a shift in tone from just two weeks ago, when Musk was busy knocking down a report that SpaceX had ordered $52 billion worth of Nvidia GPUs through Foxconn, calling it fake news at the time. The dollar figure in that rumor may have been wrong, but the underlying direction seems correct. SpaceX’s AI division already leases Colossus compute capacity to Anthropic and Google, and Tuesday’s earnings report showed AI revenue climbing sharply as those deals ramp up.
Nvidia shares rose roughly 3% in Tuesday trading on the news, while SpaceX stock climbed nearly 9% during the day before giving back gains after hours as investors digested the earnings report’s capital spending figures.
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SpaceX (NASDAQ: SPCX) reported a beat in revenues and EBITDA in its first earnings call report while also minimizing losses as its business continues to gain momentum.
After its IPO in July, SpaceX saw some tough losses on Wall Street due to a major selloff after a delay in its 13th Starship test flight. The ship launched later that week and completed what was arguably the most successful IFT operation in the Starship program’s history.
Nevertheless, the company is continuing on and reported some encouraging financials while also promoting what appears to be a robust outlook moving forward in its Space, AI, and Connectivity divisions.
SpaceX to report first-ever earnings today: here’s what to expect
Earnings Results
- Revenues: $7.8 billion reported vs. $6.7 billion expected
- Adjusted EBITDA: $3.5 billion vs. $2 billion expected
- Net loss of $541 million, an improvement of $467 million from net loss of $1.0 billion
Additionally, CFO Bret Johnsen had these comments:
“2026 has been a momentous year so far, and the second quarter demonstrated the true power of SpaceX. Revenue growth accelerated across all our business segments and we delivered strong operating leverage, with significant margin expansion led by our new AI compute agreements. Our unparalleled leadership in launch, Starlink subscriber growth, new enterprise and government partnerships, and best-in-class AI infrastructure underscore our ability to drive meaningful scale and deliver attractive returns. As a newly public company, we are delighted to welcome our broad base of shareholders and bondholders. We ended the second quarter with $100 billion of cash, cash equivalents, and marketable securities, and $47.5 billion in backlog. This financial strength gives us substantial capacity to invest in Starship, Starlink Broadband and Mobile satellites, and our AI platform, while maintaining a disciplined long-term capital allocation framework.”
Space Business Highlights
SpaceX shared some of its biggest Space Business Highlights for Q2:
- Space revenues grew 55% sequentially and 29% year-over-year to $962 million, driven by a higher number of large customer launches and a favorable customer shift compared to the prior year
- Total costs and expenses for the Space segment were up by $389 million year-over-year, as we continued to accelerate R&D investments in our Starship program, which we believe will reduce the cost to orbit by 99% or more relative to the historical average, and unlock significant revenue potential across all business segments
- Leading launch provider for the world with 78 launches and 1,041 metric tons of mass to orbit deployed over the six months ended June 30, 2026, primarily allocated to Connectivity for the deployment of our Starlink constellation
- Starship V3 development continued to advance towards full and rapid reusability:
- Completed Starship V3’s first suborbital mission in May, Flight 12, which achieved a successful lift off from our new Starbase pad, a precision landing of Starship’s upper stage, and deployment of modified V2 Starlink satellites
- Subsequent to the second quarter, completed Starship Flight 13 in July, which achieved all flight objectives including deploying 20 production V3 satellites, demonstrating in-space relight of a Raptor engine, and executing the softest ever splashdown of Starship, providing critical views of an intact heatshield
SpaceX will report its earnings today at 4:30 P.M. EDT.
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Elon Musk issued a second pointed warning to SpaceX short sellers on Tuesday, just hours before the company was set to release its first quarterly earnings as a publicly traded firm. Responding to a report highlighting elevated short interest, Musk wrote on X: “I try to warn them, but they just double down …”
The comment came as data from S3 Partners showed roughly 95 percent of available SPCX shares to borrow were on loan, translating to about 34 percent short interest as a percentage of the float. The stock has traded under pressure since its record-breaking IPO in June 2026, declining significantly from early peaks.
I try to warn them, but they just double down … 🤷♂️
— Elon Musk (@elonmusk) August 4, 2026
This marks the second such message from Musk in under three weeks.
On July 17, amid post-IPO volatility, he stated: “The survival probability of firms who maintain a significant short position in SpaceX over time is very low.” At that time, SPCX had fallen roughly 30 percent from its peak above a $2.6 trillion valuation, with short sellers reportedly realizing gains of about $8.7 billion.
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Musk’s warning aligned with optimistic analyses projecting that Starship-driven cost reductions could enable a multi-trillion-dollar space economy through applications such as orbital solar power, asteroid mining, data centers, and Mars-related projects, positioning SpaceX as critical infrastructure.
SpaceX is scheduled to report second-quarter results after the market close later today, followed by a webcast. Analysts anticipate revenue near $6.9 billion, reflecting growth in Starlink, launch services, and AI-related segments. The earnings release precedes a major lockup expiration on August 6 that could free hundreds of millions of insider shares.
Musk has a long track record of confronting short sellers, particularly regarding Tesla, where he has argued that persistent bearish positions underestimate transformative technologies. Critics view his optimism as overly ambitious given near-term stock fluctuations, while supporters see temporary dips as opportunities in a longer-term expansion of the space economy.
As SpaceX opens its books to public scrutiny for the first time, the high short interest and Musk’s repeated cautions set the stage for heightened market attention on the results and management’s commentary.
SpaceX and Nvidia team up on Musk’s orbital AI bet
SpaceX reports beat in first earnings while minimizing losses
