News
TX fire chief slams inaccurate Tesla crash coverage with firsthand details on Model S fire
Immediately following the fatal Tesla crash in Texas this weekend, reports from both local and national media outlets emerged citing the statements of Harris County Pct. 4 Constable Mark Herman, who remarked that police were 100% certain that there was no one in the driver seat of the ill-fated Model S when it crashed. Herman also commented that the Tesla fire was so severe that it took over 30,000 gallons of water and four hours to extinguish the flames from the crash, and that firefighters had to reach out to the EV maker for help in battling the fire.
These statements have since been debunked (at least to some degree) by Tesla CEO Elon Musk, who noted that data logs that have been recovered so far from the ill-fated Model S indicate that Autopilot was not enabled during the crash, and that the vehicle did not have any Full Sell-Driving functions activated. Musk’s update essentially threw a wrench on the pervading narrative that Autopilot likely caused the tragic crash.
Your research as a private individual is better than professionals @WSJ!
Data logs recovered so far show Autopilot was not enabled & this car did not purchase FSD.
Moreover, standard Autopilot would require lane lines to turn on, which this street did not have.
— Elon Musk (@elonmusk) April 19, 2021
And now, even the reports about the Tesla fire have been thrown into question–by the man whose team extinguished the blaze no less. In a statement to the Houston Chronicle, Palmer Buck, fire chief for The Woodlands Township Fire Department, noted that contrary to some reports in the media, the Tesla Model S fire did not burn out of control for four hours.
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Interestingly enough, Buck remarked that his team actually managed to put down the fire within two to three minutes, which was enough for authorities to see that there were occupants in the vehicle. After these first two to three minutes, it was only a matter of keeping the batteries as cool as possible by pouring small amounts of water into the damaged battery pack. Buck described the fire department’s strategy in the following statement.
“With respect to the fire fight, unfortunately, those rumors grew way out of control. It did not take us four hours to put out the blaze. Our guys got there and put down the fire within two to three minutes, enough to see the vehicle had occupants. After that, it was simply cooling the car as the batteries continued to have a chain reaction due to damage.
“We could not tear it apart or move it around to get ‘final extinguishment’ because the fact that we had two bodies in there and it was then an investigation-slash-crime scene. We had to keep it cool, were on scene for four hours, but we were simply pouring a little bit of water on it. It was not because flames were coming out. It was a reaction in the battery pan. It was not an active fire,” Buck said.
As for the rumors that the fire department had to call a Tesla hotline for tips on how to handle a battery fire, the Fire Chief stated that these reports were untrue. “We did not (call Tesla), and I do not know where (that rumor) came from. There is a chance someone else did, maybe the Harris County Fire Marshal, but we did not call (Tesla). Tesla has an emergency manual for first responders,” Buck said. He also noted that he is not aware of Tesla having a hotline for tips on how to control a battery fire.
Buck also provided some new details about the Model S crash and how the fire department was involved. According to the fire chief, the first calls about the incident did not involve reports about a car at all. Instead, initial reports were about a fire in the woods. And while the Model S fire was notable when the firefighters arrived, it only took minutes to control the blaze from the vehicle.
“The first calls that came in were a fire in the woods. Then we got at 9:30 p.m. where we got the first call when someone said, ‘I see a car in a tree, and it is on fire. They reported a car hit a tree, and it had exploded… That is when we added extra units (to the response). There is a big lake, and (the accident) was just to the left of the lake, closer to the exiting part of the street, not the end of the cul de sac. It was at an undeveloped lot.
“(The Tesla) was heavily involved in flames. When the fire was put out, it was noticed there were two bodies (inside), and they were deceased. They continued extinguishment of the woods around (the car), putting out the trees and pine needles and what have you. I was there probably five to 10 minutes after that and at that point, every once in a while, the (battery) reaction would flame and it was mainly keeping water pouring on the battery,” Buck explained, adding that this was a process recommended by Tesla in cases of burning batteries.
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While a number of the initial reports about the tragic Tesla crash this weekend have been debunked by Elon Musk and now, the fire chief for The Woodlands Township Fire Department, the incident continues to attract some degree of drama. As per recent reports, Harris County Pct. 4 Constable Mark Herman has stated that investigators would be serving a search warrant on Tesla to gain all data from the ill-fated Model S. Federal regulators from the NHTSA and NTSB have also launched an investigation into the crash.
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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
