Tag: SpaceX

SpaceX president Gwynne Shotwell just gave another hint at a Tesla merger

Posted on by faz_business


All eyes might be on the SpaceX IPO — the world’s largest in history — and its CEO Elon Musk. But lest you forget there is another publicly traded company in the Musk universe that many believe will someday merge with SpaceX.

We’re talking about Tesla, a company that has a current market cap of about $1.26 trillion. Musk, who also leads the company, has pitched Tesla as an AI and robotics company, even if the bulk of its revenue comes from selling EVs. Some see a merger with SpaceX as a critical step to achieve that mission.

And SpaceX president and COO Gwynne Shotwell appears to see some benefits to one. During an interview with CNBC, Shotwell said a merger  “might make Elon’s life a little easier.”

There is evidence that SpaceX is already preparing for a merger. The company amended its S-1 registration document ahead of its public debut to include new language in its risk factors section about mergers and acquisitions. The sentence, which reads “We may issue a significant amount of equity in connection with future transactions,” is a warning to investors of future dilution. A warning like that wouldn’t be necessary for a small-scale deal; it likely means Tesla.

As a reminder, Musk is quite comfortable bringing the disparate pieces of his portfolio together. SpaceX acquired Musk’s AI company xAI earlier this year. And xAI acquired Musk’s social media company X in an all-stock transaction.

The SpaceX IPO filing has arrived

Posted on by faz_business


SpaceX, the aerospace company founded by Elon Musk 24 years ago, has finally made its IPO filing public.

The hefty filing, posted after markets closed Wednesday, shows a company that has developed far beyond its initial pursuit of reusable rockets — although its long-term mission to create a multi-planetary species remains intact. SpaceX is now a technology conglomerate working on satellites and AI, and has become one of the world’s most valuable private companies.

When it goes public later this year on the Nasdaq exchange, it will become one of the most valuable publicly-traded companies. (Nvidia currently holds the crown with a market cap of $5.4 trillion.) SpaceX has chosen the ticker “SPCX” for the listing.

The regulatory filing, known as an S-1, offers the most vivid and financially illuminating public dissection of SpaceX’s business to date. And it comes just weeks ahead of what’s expected to be the largest IPO ever, both in terms of potential money raised (expected to be around $75 billion) and overall valuation (reportedly $1.75 trillion).

Many of the headline details have been reported in the weeks since SpaceX first submitted a confidential version of its S-1 filing to the Securities and Exchange Commission on April 1. The company lost about $4.9 billion in 2025 on revenue of more than $18 billion, as Reuters reported last month.

The filing details a business that is currently dominated by SpaceX’s Starlink satellite internet offering, which generated more than half of the company’s revenue last year. It also shows how much SpaceX has burned to get to this point: more than $37 billion lost since inception, according to the S-1.

XAI, the artificial intelligence company Elon Musk created and recently merged into SpaceX, is not helping on that front. The filing shows SpaceX directed around 60% of its capital spending in 2025 to its AI division, or around $20 billion. And yet that division — which houses the chatbot Grok — lost billions last year, and only grew revenue by about 22%. That’s far below the reported revenue growth rates at frontier AI labs.

Despite SpaceX’s complex business, much of its future is pegged to the success of Starship, the fully-reusable heavy lift rocket that has had a series of explosions and technical revamps over the past several years. The company is expected to conduct the 12th launch of Starship as early as this week.

S-1 filings are hundreds of pages long, and this one in particular is likely to be stuffed with interesting numbers, risk factors to SpaceX’s business, and other previously private information. TechCrunch will be pulling out the most interesting details all day, so stay tuned.

This story is developing…

When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence.

OSHA probing worker death at SpaceX’s Starbase site

Posted on by faz_business


A worker died at SpaceX’s Starbase launch site in South Texas on Friday, and the Occupational Safety and Health Administration (OSHA) has opened an investigation.

The San Antonio Express-News reported Monday that the unidentified victim died at around 4:17 a.m. local time on May 15, citing OSHA and local officials. The Wall Street Journal later reported that the county sheriff confirmed to the outlet that a worker died. OSHA confirmed to TechCrunch that it is investigating the apparent accident.

Representatives for the nearby Brownsville police and fire departments did not respond to requests for comment. SpaceX and the newly incorporated city of Starbase did not respond to requests for comment.

The circumstances of the worker’s death are not immediately clear. OSHA told TechCrunch that it won’t release more information until its investigation is complete, which could take months.

The death comes just a few days ahead of the first planned launch of SpaceX’s upgraded Starship rocket. Elon Musk’s spaceflight company is also reportedly releasing the detailed prospectus for its initial public offering this week, which is expected to be the biggest ever when that transaction takes place next month.

SpaceX has long dealt with worker safety problems at its Starbase site, which handles Starship prototype launches and is an active construction zone.

In 2025, TechCrunch analyzed OSHA data and determined the Texas launch site had an injury rate that far outpaced those of industry rivals and was the most dangerous of SpaceX’s worksites. A 2023 Reuters investigation uncovered dozens of previously unreported injuries and a worker death in 2014 at SpaceX’s McGregor, Texas, test site.

In January, OSHA hit SpaceX with seven “serious” safety violations for, among other things, not properly inspecting a crane before it collapsed at Starbase last June. The safety agency dealt SpaceX the maximum financial penalty on six of those seven violations, totaling $115,850. SpaceX is contesting those penalties, federal records show.

The company has been hit with multiple lawsuits related to injuries sustained at Starbase in recent years. In December, an employee of one of SpaceX’s subcontractors sued after he was crushed by a large metal support dropped from a crane. The worker, Eduardo Cavazos, suffered a broken hip, knee, and tibia, and OSHA opened a “rapid response investigation,” as TechCrunch first reported in December.

OSHA has since closed that rapid response investigation without taking any punitive action, according to a TechCrunch public records request. And the lawsuit was recently dropped because his employer, the subcontractor, provides workers compensation insurance that prevents the company from being sued, according to Cavazos’ attorney.

When you purchase through links in our articles, we may earn a small commission. This doesn’t affect our editorial independence.

Elon Musk’s last co-founder reportedly leaves xAI

Posted on by faz_business


Earlier this month, it looked like all but two of Elon Musk’s 11 co-founders at his AI startup xAI had departed the company. Now, according to Business Insider, the remaining two co-founders, Manuel Kroiss and Ross Nordeen, have left as well.

BI said on Wednesday that Kroiss had told people that he’s leaving xAI, then reported that Nordeen left the company on Friday.

Musk recently claimed xAI “was not built right [the] first time around,” so it’s now “being rebuilt from the foundations up.” The company was recently acquired by Musk’s SpaceX, bringing SpaceX, xAI, and X (formerly Twitter) together under one corporate umbrella, all as SpaceX is reportedly planning to go public.

Kroiss and Nordeen both reported directly to Musk, according to BI, with Kroiss leading the company’s pretraining team, while Nordeen was Musk’s “right-hand operator.” Nordeen reportedly came to xAI from Tesla, and was involved in planning major layoffs at Twitter after Musk acquired the company in 2022.

TechCrunch has reached out to xAI for comment.

Elon Musk announces Terafab project he claims will be the ‘largest chip manufacturing facility ever’

Posted on by faz_business


Elon Musk has announced the Terafab project, a joint venture between Tesla, SpaceX and xAI, to build the “largest chip manufacturing facility ever.” In his usual grandiose fashion, Musk claims Terafab is the next step towards harnessing the power of the sun and creating a “galactic civilization.”

Musk, CEO of all three companies, announced plans for the Terafab in a livestream on X. As the name implies, the project’s ultimate goal is to produce a terawatt of computing power each year so that it can match the companies’ growing demand for chips. Musk explained during the livestream that he’s grateful to existing supply chain partners like Samsung, TSMC and Micron, but the current capacity of chip manufacturers only adds up to about two percent to what Tesla and SpaceX needs in terms of future computing power needs.

“We either build the Terafab or we don’t have the chips,” Musk said during the event. “And we need the chips so we’re going to build the Terafab.”

The Terafab project, estimated to cost at least $20 billion, will start with the Advanced Technology Fab in Austin, Texas, where Tesla is already headquartered. Musk said that the two types of chips will be produced in the Terafab: one for terrestrial purposes, like to power Full Self-Driving or Optimus robots, and another more high-powered, durable chip to be used in space. If you’re wondering what Musk has in store for space, the SpaceX CEO filed an application with the Federal Communications Commission to launch a million satellites to create an “orbital data center” earlier this year. As promising as this sounds, it’s worth noting that Musk has previously overpromised and underdelivered on other projects, like the Hyperloop, a $40,000 Cybertruck and fully autonomous driving.

Do You Have What It Takes to Be ‘Future Chief of Police’ of Starbase, Texas?

Posted on by faz_business



Does “protecting a commercial spaceport environment,” along with “critical infrastructure and high-value technology assets,” in a community “shaped by aerospace activity, coastal ecology, and a pioneering spirit of exploration” sound like your dream job? Well why not apply to be the “future chief of police” of Elon Musk’s company town in Texas?

As noted in a story last month on ValleyCentral.com, which is affiliated with Brownsville, Texas area TV news station KGBT, the city of Starbase (yes, it’s a real, incorporated city) approved an ordinance (yes, it has the authority to make laws) establishing a municipal police department. That will include a chief of police and eight officers, with that chief, according to ValleyCentral, elected by the city’s commission.

To that end, apparently, the city just published a job listing seeking applicants for a job titled “Public Safety Director / Future Chief of Police.” The rather puzzling hybrid title may stem from the sheer speed at which the institutional trappings of a city are being assembled in Starbase. The city was incorporated about ten months ago, has a mayor, and will be holding an election on May 2 of this year according to its website.

ValleyCentral makes it sound like policing is a somewhat urgent matter in Starbase because a $3.5 million contract with the Cameron County Sheriff fell through. What were meant to be five-year positions as Starbase-based deputies weren’t appealing to potential recruits. City Administrator Kent Myers told ValleyCentral “We didn’t have a lot of success in finding deputies through the county, so we decided to change direction.”

The job ad says this position will involve creating a “future-ready workforce” that will prioritize, “Integrating advanced technology and analytics into operations.” Starbase’s ideal applicant, the ad says, is a “visionary, ethical, and innovative leader with unquestioned integrity.”

But that ideal candidate will also “thrive in a startup-like environment.”

As for what the sociological picture looks like in the area for someone considering being top cop there, the first thing to keep in mind is that it’s a short drive from the Mexican border where, as of 2026, drug trafficking remains an issue of concern at the federal level. And according to a report from 2023, Cameron County was on the list of the 45 counties (out of 254 counties total) in Texas considered to be in poverty.

Closer to Starbase, there has been considerable agitation over SpaceX’s control of an ostensibly public beach, and a statue of Elon Musk in the area was vandalized last year. So social unrest due to dislike of SpaceX and Elon Musk seem like potential areas of concern.

But it’s presumptuous to try and paint a picture of the crime situation in Starbase because it’s in many ways still just a construction site. The population was about 500 as of last year, which is the approximate standing capacity of a Cheesecake Factory. And the infrastructure to support a police department isn’t even in place yet in Starbase. TechCrunch noticed some government filings last month showing that the city will likely soon have a courthouse. Common sense-wise, it stands to reason that a jail will soon follow.

Why this month’s Starship flight is SpaceX’s most important yet

Posted on by faz_business



SpaceX is targeting this month for the 12th launch of its gargantuan Starship rocket, which comprises the first-stage Super Heavy booster and upper-stage Ship.

While much has rested on each and every one of its previous 11 test flights, the first of which took place in April 2023, the next launch is a big deal for the Elon Musk-led spaceflight company.

That’s because the mission involves a new version of the rocket, with its design based closely on the one that’s destined for future flights to the moon and possibly even Mars.

Version 3 of Starship incorporates structural refinements, more powerful engines, and a raft of lessons learned from earlier mishaps and failures. The entire vehicle is a little taller, too, at 124.4 meters compared to 123.3 meters, and features considerably larger grid fins for improved flight control.

The new design represents a shift from experimental prototype toward something closer to an operational system, with the redesigned rocket the first Starship capable of orbital flights.

The upcoming 12th flight will aim to demonstrate structural and systems upgrades across the vehicle, validate the performance of its latest Raptor engines, execute a clean stage separation and controlled ascent profile, and gather critical data on booster recovery systems that move the rocket closer to routine reuse, among other goals.

The Starship won’t need to perform a perfect flight, but it will need to convince NASA and its partners that progress is accelerating.

That’s because rival spaceflight company Blue Origin, led by Amazon founder Jeff Bezos, is knocking at the door.

Blue Origin is also competing for NASA contracts and could even provide the spaceflight hardware for the recently revamped Artemis III mission in low‑Earth orbit in 2027, putting extra pressure on SpaceX to demonstrate measurable progress with the Starship.

SpaceX currently has the contract for the Artemis III and Artemis IV missions (the latter of which will put astronauts back on the moon, possibly in 2028), but should Starship development falter, Blue Origin could step in.

Clearly there’s a lot to play for, though it’s worth noting that Blue Origin has far less flight experience with its New Glenn rocket and its untested Blue Moon lander, leaving SpaceX well-positioned to prove Starship’s reliability first.

SpaceX has yet to announce a specific target date for the Starship’s 12th flight. We’ll share news of it just as soon as we know.

Pentagon will reportedly award SpaceX a $2 billion contract to help develop the ‘Golden Dome’

Posted on by faz_business


SpaceX will reportedly receive a $2 billion contract to develop satellites for the US government, according to the . The WSJ‘s report detailed that SpaceX will be tasked with developing up to 600 satellites that can track missiles and aircraft and will be used for President Trump’s proposed “Golden Dome” project.

in May, the president introduced a project to build an anti-missile defense system that would intercept missile attacks before reaching their target. The Golden Dome is reminiscent of Israel’s system, but the Pentagon has yet to reveal concrete details about the project. Considering the scale of the project, it’s worth noting that SpaceX’s reported $2 billion contract could be one of many associated with the Golden Dome. According to the report, companies like Anduril Industries and Palantir Technologies could also be involved with the development, which the Trump administration wants to complete before the end of his presidential term.

Beyond the Golden Dome, the WSJ reported that the Pentagon is planning to use SpaceX’s extensive satellite network for other purposes, including military communications and vehicle tracking. While the numbers are constantly fluctuating, SpaceX currently has more than 8,000 satellites for its Starlink service.

SpaceX’s Starshield satellites are reportedly transmitting signals on unauthorized frequencies

Posted on by faz_business


SpaceX may be violating international telecommunication standards by allowing its Starshield satellites to transmit to Earth on frequencies it’s not supposed to use, NPR reports. Starshield is a classified version of SpaceX’s Starlink satellite network offered on contract to government agencies “to support national security efforts,” according to the company’s website.

The report is based on findings from amateur satellite tracker Scott Tilley, who observed what appeared to be Starshield satellites broadcasting on frequencies normally dedicated to “uplink” transmissions from the Earth to satellites in orbit. Using the frequencies that way violates standards set by the International Telecommunication Union, a United Nations agency dedicated to coordinating the use of radio spectrum across the world.

Standards around which frequencies are used for uplink and downlink broadcasts to satellites were created to avoid interference, among other technical issues. “Nearby satellites could receive radio-frequency interference and could perhaps not respond properly to commands — or ignore commands — from Earth,” Tilley told NPR. It’s not clear yet whether SpaceX ignoring these rules is causing any issues with satellite communication, but should problems arise, there’s now a possible cause.

SpaceX’s first major Starshield project was a $70 million contract with US Space Force in 2023. More recently in 2024, there were reports that SpaceX’s Starshield division had been tasked with building out a network of spy satellites to gather imagery of Earth for the Department of Defense’s National Reconnaissance Office.

SpaceX will attempt Starship’s 11th flight test on Monday

Posted on by faz_business


SpaceX is gearing up for the 11th flight test of its Starship megarocket, which will launch from its Starbase in Texas as early as Monday. The launch window opens on October 13 at 7:15PM ET. You’ll be able to watch live starting 30 minutes before liftoff on the SpaceX website and on X. 

Starship’s latest flight follows a successful test at the end of August, during which it deployed a payload — eight dummy Starlink satellites — in space for the first time following a failed attempt earlier in the year. The company is aiming to carry out another payload demonstration for flight 11, again using eight Starlink simulators. For this flight, SpaceX is using a previously flown Super Heavy booster, with 24 of its 33 Raptor engines being flight-proven. The goals this time around include “flight experiments gathering data for the next generation Super Heavy booster, stress-testing Starship’s heatshield, and demonstrating maneuvers that will mimic the upper stage’s final approach for a future return to launch site.”

SpaceX won’t attempt to catch Super Heavy in its “chopsticks” back at the launch site this time. The booster is instead expected to end up in the Gulf of Mexico, while Starship will splash down in the Indian Ocean.