Investor's Corner
Tesla Model 3 Mid Range RWD deliveries are starting earlier than expected
Tesla appears to be learning the art of under-promising and over-delivering. When Tesla announced the Mid Range Model 3, the company noted that deliveries of the vehicle would likely begin within 6-10 weeks. If recent reports from the Tesla community are any indication, though, it appears that deliveries for the Mid Range Model 3 have already begun, less than two weeks since the vehicle was initially launched.
In a recent post, Tesla Motors Club member ivan801 noted that he had taken delivery of his Mid Range Model 3. Based on images shared by the Model 3 owner, his vehicle was a solid black variant with black interior and 18″ Aero Wheels. The vehicle’s VIN was also in the 150k-range, suggesting that Tesla registered the electric car on October. The past month, after all, saw Tesla register more than 61,000 new Model 3 VINs, starting the month with numbers in the 118k-range and ending the month with the highest VINs at the 179k-range.
Apart from the TMC member’s post, a video of a Model 3 accelerating on a freeway on-ramp was recently uploaded on YouTube as well. The video’s owner dubbed the vehicle as the “economy” variant of the Model 3 in the clip’s description, though in later comments, the uploader remarked that the vehicle was a Mid Range Model 3. The short clip featured the vehicle accelerating from a sub-20 mph rolling start, and based on the video; it appears that even Tesla’s “slowest” vehicle to date is still pretty quick on its feet.
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- A Mid Range Tesla Model 3 RWD. [Credit: ivan801/Tesla Motors Club]
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- A Mid Range Tesla Model 3 RWD. [Credit: ivan801/Tesla Motors Club]
A Mid Range Model 3 has been delivered to a reservation holder. [Credit: ivan801/Tesla Motors Club]
In the days prior to the car’s announcement, Elon Musk began teasing the arrival of a “lemur” on Twitter. On October 18, Tesla released the Mid Range Model 3, a lower-cost version of its electric sedan that initially cost $45,000 before incentives. Neither Tesla nor Elon Musk announced the reasons behind the “lemur” references, though the little primate’s name could be a clever play on the vehicle’s LEMR variation (Limited Edition Mid Range, perhaps?).
While the price of the Mid Range Model 3 was adjusted to $46,000 not long after the vehicle was released, the new variant does offer budget-conscious reservation holders the opportunity to join the Tesla ecosystem at a time when the full $7,500 federal tax credit is still in effect. Earlier this year, Tesla sold its 200,000th electric car in the United States, triggering a phase-out period for its vehicles’ $7,500 federal tax credit. With the phase-out period in effect, electric cars that will be delivered starting January 1, 2019, would only be eligible for a $3,750 tax credit, 50% less than those who would take delivery before the end of 2018.
A recent email from Tesla to reservation holders noted that deliveries for the Mid Range Model 3 would start in as little as four weeks. According to Tesla’s communication, “current delivery timelines are 4 weeks for the west coast, 6 weeks for central and 8 weeks for the east coast.” The electric car maker further noted that those who can pick up their vehicle directly from the Fremont factory would likely see deliveries in “under four weeks.”
The Mid Range Model 3, at its current price, represents a $3,000 savings from the Long Range RWD variant of the vehicle, which was the first version that Tesla started producing. With the price savings comes a number of compromises in terms of performance, though, as the Mid Range Model 3 features a 260-mile range, a 0-60 mph time of 5.6 seconds, and a top speed of 125 mph. In contrast, the Long Range RWD variant, which started at $49,000 before incentives, has a range of 310 miles per charge, a 0-60 mph time of 5.1 seconds, and a top speed of 140 mph.
Tesla’s deliveries for the Mid Range Model 3 comes amidst Tesla’s improving production ramp for the vehicle. The past quarters have been difficult for the electric car maker, with Elon Musk dubbing the Model 3 ramp as “production hell.” After hitting its goal of producing 5,000 Model 3 per week at the end of the second quarter, though, the winds started to shift for the company. Things continued to improve in the third quarter, with Tesla delivering 55,840 Model 3 from July to September. What’s more, the company also surprised Wall Street by posting $6.8 billion in revenue and beating earnings estimates with a GAAP profit of $312 million.
With large numbers of Mid Range Model 3 expected to be delivered in the fourth quarter, and with upgrades from Panasonic and Grohmann expected to be installed in Gigafactory sometime in Q4, the current quarter might very well become Tesla’s most impressive yet.
Watch a Mid Range Model 3 accelerate on a highway on-ramp in the video below.
Elon Musk
SpaceX’s newest Starmind will make earth data centers obsolete
Elon Musk confirmed Starmind as SpaceX’s AI satellite constellation name, targeting one million orbital compute nodes.
Elon Musk confirmed that Starmind will be the official name of SpaceX’s planned AI satellite constellation, following a trademark filing by xAI that surfaced earlier this week. Starmind is what’s being described to the FCC as a constellation of up to one million AI satellites
It’s worth noting that SpaceX’s Starlink communication satellite and Starmind are built on the same orbital infrastructure concept but serve entirely different purposes. Starlink is a connectivity network, with satellites receiving and relaying data between points on Earth, and functioning as a high-speed internet backbone in space. The satellites themselves do not process or think, and move information from one place to another, the same function a fiber cable performs underground.
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Starmind, on the other hand, is something completely different, and tather than moving data, its satellites would compute data through artificial intelligence and directly in orbit using onboard processors powered by large solar arrays. Where a Starlink satellite is essentially a very fast pipe, a Starmind satellite is a server. The practical implication is that Starmind would allow AI models to run inference, process queries, and generate outputs from space, then beam results down to users anywhere on Earth within milliseconds, and without the data ever needing to travel to a terrestrial data center.
Starship will be able to carry 30 to 50 AI1 satellites per launch, delivering the equivalent of dozens of server racks per flight, with no land acquisition, no power grid approval, and no cooling infrastructure required on the ground.
SpaceX is pursuing this new technology as terrestrial data centers are running into hard limits such as lack of physical space, community opposition, and power and water consumption at a scale that is increasingly difficult to permit. Space has unlimited solar power, natural vacuum cooling, and no zoning boards. Musk said in a June 8 video presentation that he expects space to become the lowest-cost location to deploy AI compute within two to three years. Two AI1 prototypes are scheduled to launch in early 2027, with volume production targeted for the end of that year at a new facility called Gigasat.
The real world applications Starmind enables extend well beyond powering Grok. A constellation of orbiting AI processors could run inference workloads for any paying customer, anywhere on Earth, with latency measured in milliseconds rather than the seconds associated with ground-based cloud routing across continents. Starmind, if it scales as described, would make SpaceX the landlord of AI compute the same way Starlink made it the landlord of satellite internet.
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.
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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.
Investor's Corner
SpaceX is launching a secret spacecraft that could change how things are made in space
SpaceX’s secret disk-shaped Starfall capsule is targeting a market no reentry vehicle has cracked.
SpaceX is targeting Tuesday, June 23 for the first flight of Starfall, a reentry capsule the company has developed almost entirely in private. The Falcon 9 launch window opens at 6:43 a.m. ET from Space Launch Complex 40 at Cape Canaveral Space Force Station, with a backup window available the same time on June 24. SpaceX has made no public announcement about the vehicle, only providing launch details. Everything known about it has come through FAA and FCC regulatory filings.
What makes Starfall different starts with its shape. Rather than the traditional cone used by Dragon and every other cargo return capsule in operation, Starfall is a flat disk that measures roughly  10.2 feet (3.1 meters) wide and just 2.5 feet (0.75 meters) tall, and weighing 4,630 pounds (2,100 kg) and capable of returning up to 2,200 pounds (1,000 kilograms) of payload from orbit. The disk geometry maximizes structural efficiency and payload volume relative to mass, and the heat shield mechanically jettisons just before splashdown, allowing recovery teams to retrieve both the capsule and the shield separately from the Pacific Ocean.
The difference with Starfall from existing competitors, such as Varda Space Industries, which has largely built the orbital manufacturing market and returns heavy payloads per flight is that Starfall’s specification is roughly 30 times more per mission, and is designed to be mass-produced and launched on either Falcon 9 or Starship. That combination of volume and launch access is something no standalone startup can replicate, and it puts SpaceX in direct competition with the companies that currently pay it to reach orbit.
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The intended market is orbital manufacturing: pharmaceuticals, protein crystals, semiconductors, and advanced optical fiber that physically cannot be produced in the presence of gravity. FAA documents describe Starfall’s long-term purpose as building a “self-sustaining commercial in-space manufacturing market” and as a potential successor to the industrial capabilities of the International Space Station, which is set to retire in the late 2020s. Military rapid global cargo delivery is a parallel application under active discussion with the Pentagon.
The reason some industries seek manufacturing in space comes down to gravity. On Earth, gravity causes materials to settle, separate, and deform during production. In microgravity, those constraints disappear.
SpaceX’s already controls launch access, which means it currently functions as the landlord for every competitor in the orbital manufacturing return space. Starfall converts that landlord position into vertical ownership, and it would no longer just carry other companies’ capsules to orbit, but rather operate the capsule, own the return logistics, and capture the service revenue directly. Viewed alongside Starlink, Colossus, and the xAI merger, Starfall fits a consistent pattern: SpaceX identifying infrastructure layers that others depend on and moving to own them outright. Orbital manufacturing return is the next layer on that list.
If Tuesday’s reentry, parachute sequence, and recovery demonstration goes as planned, the second FAA-approved test flight follows. A successful pair of demos would position SpaceX to begin offering Starfall as a commercial service, likely first to pharmaceutical and materials science customers before scaling toward the military and broader manufacturing segments.
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