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The Year of the ‘Giga Press’: How Tesla’s monster machines can complete Elon Musk’s 2nd Master Plan
One of the most exciting developments from Tesla eagerly awaited by the electric car community is the company’s use of its giant casting machines. Dubbed by its maker IDRA as the “Giga Press,” the house-sized monster machines are capable of producing single-cast pieces for Tesla’s vehicles, starting with the Model Y.
The Giga Press lives up to its name. Its physical footprint is formidable, measuring 20 meters x 7.5 meters x 6 meters. It also weighs a whopping 430 tons, or about five Space Shuttles. So massive is the Giga Press that it takes up to 24 flatbed trucks to transport its components.
When operating, the Giga Presses are no slouch, as they have a cycle time of ~80‒90 seconds, which translates to an output rate of 40‒45 completed castings per hour, or about ~1,000 castings per day. That’s over 300,000 castings per year, per machine.
A Platoon of Giga Presses
So far, Tesla has set up two Giga Presses on the grounds of the Fremont Factory. Flyovers of the site show that the two machines are already set up, though it remains to be seen when they would formally be deployed. Over in China, three other Giga Presses have been spotted in the Giga Shanghai complex, though the units were reportedly built by LK Machinery, IDRA’s parent company.
But what is rather remarkable is that Tesla has several more Giga Presses in order. Sandy Munro, in a recent interview with electric vehicle advocate Sean Mitchell, noted that he has heard through the grapevine that Tesla has ordered 11 more units of the Giga Presses. Previous reports point to Giga Berlin receiving eight of the machines, and flyovers at the Giga Texas site seem to reveal three isolation pits for the monster machines in the area.
Needless to say, the Giga Press is poised to become a key part of Tesla’s Gigafactories from now on. As Tesla rolls out its single-piece cast design for the vehicles in its lineup, the company’s platoon of Giga Press machines will likely play an even bigger role. This role will likely become prominent starting next year, 2021.
The Year of the Giga Press
Tesla has always been a rebel of sorts, and this became extremely prominent this year. 2020 will likely be known as the year when the world stopped, and automakers suffered deep wounds due to the pandemic. Tesla, being a company that has always swum against the current, thrived instead of dropped. It is even poised to end the year as the newest member of the S&P 500.
But 2020 is only the beginning of a new chapter in the Tesla story. With the company now on more stable footing, the electric car maker can focus on executing its ramp for 2021. This ramp would likely involve Tesla aiming to produce close to, or perhaps up to, a million vehicles in one year. Such a ramp would require the full deployment of its Giga Press machines.
There is little doubt that Giga Press No.1 and No.2 at the Fremont Factory will be deployed fully soon. Giga Press No.3, No.4, and No.5 at Gigafactory Shanghai will likely be operational in early 2021 as well. And with Gigafactory Berlin likely starting Model Y production sometime next year, there is a good chance that several of its Giga Presses would go live next year as well. These, as well as the speculated machines in the Cybertruck Gigafactory in Texas, should allow Tesla to turn 2021 into the year of the Giga Press.
A Multi-Segment Approach
Tesla is a company with a big goal, one which focuses on the Master Plan of its CEO. So far, Tesla has pretty much completed Elon Musk’s first Master Plan, but Part Deux still needs some worth to accomplish. This is especially true for one aspect of the CEO’s target—expanding the company’s vehicle product line to address all major segments.
So far, Tesla has vehicles that compete in the large sedan, midsize sedan, SUV, and crossover market. This is one of the reasons why there is still so much more for Tesla to do. Granted, the Cybertruck will address the pickup market, the Semi will address the long-haul segment, and the new Roadster will compete in the supercar market. But there are still other segments to tap. One of these is the compact car market, which is populated with small, low-cost vehicles that are extremely aggressively priced.
Tesla and Elon Musk have both noted that the company will be producing a $25,000 electric car that is smaller and cheaper than the Model 3. Such a vehicle would likely be equipped with the best innovations that the company can offer for it to be profitable. These include low-cost and disruptive tabless 4680 battery cells and massive single-piece casts that are produced with the Giga Press. And considering that both Giga Shanghai and Giga Berlin seem poised to produce the $25,000 Tesla, there seems to be a good chance that the company’s Giga Press platoon is only bound to get bigger in the near future.
Watch Sandy Munro and Sean Mitchell’s conversations about Tesla and its innovations in the video below.
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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, Tennessee.
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
