SpaceX

The stock was down more than 13 percent as investors were spooked by the company’s heavy investments.

SpaceX share price has plunged more than 13 percent, a day after the Elon Musk-run company reported its first quarterly earnings as a publicly listed company.

On Wednesday, the stock closed down at $108.10, down 13.6 percent from Tuesday’s close of $125.33.

Investors have been spooked by the increase in the company’s capital expenditure. At $18.37bn, it was a six-fold jump from last year, and much higher than the $13.2bn that analysts had forecast.

The majority of that investment, $15.8bn, is earmarked for artificial intelligence (AI) infrastructure, which includes specialised compute, storage, networking and software systems required to build, train, deploy and operate AI models at scale. SpaceX has said it wants to increase the capacity of its data centres from 1.4GW currently to 2GW by year-end.

Investors across the technology sector are questioning whether the large investments in AI infrastructure will actually yield returns.

“We’ve watched the same scrutiny land on Big Tech this earnings season, where investors have questioned open-ended wallets and started demanding a visible return on them,” said Josh Gilbert, lead analyst at trading platform eToro.

“SpaceX faces that test with an added degree of difficulty because it’s asking shareholders to bankroll data centres in orbit.”

SpaceX has said its computing capacity not only serves its Grok models but is also actively sold, with $14.1bn in cloud-services agreements lined up.

The one area that SpaceX saw some profit was from the “connectivity” business, with revenue jumping 66 percent from a year earlier as the number of subscribers to its Starlink satellite communications service doubled to 12 million, bringing in $1.66bn in operating income.

SpaceX’s share price faces another test on Thursday, when the first tranche of the post-IPO lock-up expires, making up to 911.5 million shares, roughly 20 percent of restricted holdings, eligible for sale.

Melissa Otto, head of Visible Alpha research at S&P Global, told Al Jazeera that the stock is “likely to be volatile” once the lock-up lifts.

SpaceX’s IPO was priced at $135 per share and climbed to $225 within days of its June 12 debut, briefly catapulting Musk as the world’s first trillionaire. The stock has since dropped.

A piece of a SpaceX rocket which has been floating in space since last year was believed to have crashed into the moon at high speed on Wednesday.

The event, not visible to the naked eye, is expected to be confirmed by experts monitoring it with a telescope.

This event posed no danger to Earth but was also expected to create a new lunar crater, experts said.

Here’s what we know so far.

Has the rocket hit the moon yet?

It is believed to have hit the moon already, but this has not yet been confirmed as it takes time for signals to return from the moon to the Earth. The rocket segment was expected to hit the moon around 2:35am ET (06:35 GMT) on Wednesday, crashing into the surface at 5,400mph (8,690km/h).

The ⁠rocket piece is believed to have hit Einstein Crater on the moon’s western limb, which is often difficult to see from Earth.

Weighing 4 metric tonnes (4,000kg), it was expected to kick up a plume of lunar dust that would likely be illuminated by sunlight but would be difficult to spot with the naked eye from Earth.

The crash landing is unintentional, SpaceX has said.

Which rocket did this piece of space debris come from?

It comes from a SpaceX Falcon 9, which is a reusable model and has been used for several space missions.

It is made of two parts: upper and lower. The lower part can detach from the upper part and return to Earth. It is the upper part of the rocket which likely crashed into the moon.

Is this dangerous for the Earth?

“There is no danger to Earth,” NASA spokesperson Jimi Russell said in a statement on Tuesday.

“NASA will continue to track the booster for training purposes, as well as later observe the impact site for scientific purposes.”

What was the Falcon 9 doing near the moon?

The Falcon 9 rocket took off last January from Florida, United States, carrying two lunar landers. The booster returned to Earth, but the upper segment remained in space to push the landers onwards.

After pushing the lunar landers onwards, the upper segment of the rocket typically falls back into Earth’s atmosphere and burns up or plunges into the ocean.

But, because the January lunar lander mission required more thrust than missions closer to Earth, the rocket’s second stage remained in space, floating aimlessly among thousands of other pieces of space junk that active satellites have to steer clear of as a matter of course.

According to the United Kingdom’s Natural History Museum, humans have launched thousands of objects into space since the 1950s. “When these spacecraft, rockets, and satellites stop working or break apart, they stay in orbit instead of falling back down right away,” it says.

Why was this rocket section heading to the moon?

It was not until earlier this year that astronomers determined that the rocket section, which had dumped its remaining fuel and could no longer be controlled, was on an orbital trajectory which would end at the moon.

Generally, for such “high-energy missions”, SpaceX performs a manoeuvre to make sure the second stage “is safe per the appropriate rules and regulations”, said Julianna Scheiman, director of NASA science missions at SpaceX, at a Monday news conference.

“We did that,” she continued, but “what has happened is essentially a mixture of solar activity and gravity forces have put it on a path towards the moon”.

Does it matter if part of a rocket crashes into the moon?

This collision raises concerns about human-made debris in space generally. The rocket section was just one of many pieces of “space junk” already orbiting Earth.

There are more than 46,000 pieces of space debris weighing a total of 17,000 tonnes currently in orbit, the European Space Agency reported in late July.

“The environmental impacts that we’re most concerned about include climate and the ozone hole,” Eloise Marais, atmospheric chemist in the geography department at University College London, told Al Jazeera last year.

“Depletion of the protective ozone layer results from chemicals released by rockets during launch that can undergo reactions that deplete ozone,” Marais added, explaining that air pollutants such as particles of soot, which can absorb sunlight and warm the atmosphere, are released during rocket launches.

NASA and SpaceX are discussing ways to prevent future lunar impacts, NASA’s Scheiman said. The US space agency plans to build a lunar base and send routine astronaut missions to the lunar surface beginning later this decade under its multibillion-dollar Artemis programme. It would not want errant pieces of space junk impacting those assets.

How common is it for space objects to crash into the moon?

Not very. The moon routinely weathers impacts from space debris, including meteoroids. Collisions with artificial objects are less common.

A Chinese rocket segment crashed into the moon in March 2022 after completing a lunar test mission.

In 2009, NASA intentionally crashed a rocket segment into the moon to study the plume of lunar material kicked up by the impact.

In the 1970s, NASA also intentionally crashed stages ⁠from its Saturn V moon rocket into the moon to study the impact’s seismic effects.

Several spacecraft intending to land softly on the moon in recent years have crashed instead.

• Russia’s nuclear-powered Luna-25 mission spun out of control and crashed ⁠in 2023. Its small power source of plutonium-238 likely remains harmlessly on the lunar surface.
• India’s Chandrayaan-2 lander mission crashed in 2019.
• Israel’s Beresheet lander crashed that same year. Among the Israeli lander’s payloads were tiny tardigrades, microscopic animals known for surviving radiation and other harsh environments and which may still be on the surface.

What are observers expecting to see?

Like many scientists, Scheiman said, “I also am very excited to see the observation.”

“This may be of some – probably minor – scientific interest, and we may learn some things from it,” said Bill Gray, creator of widely used astronomy software who published a report on the stage’s impact in April.

“It doesn’t present any danger to anyone, though it does highlight a certain carelessness about how leftover space hardware [junk] is disposed of.”

NASA hopes to soon establish a sustained human presence on the Moon, making it critical to better understand space debris in lunar orbit.

Revenue was up more than 90 percent from the same period a year ago, beating analyst expectations.

SpaceX reported a loss of more than half a billion dollars in its first quarterly statement as a public company, but the loss was less than Wall Street expected and revenue soared.

On Tuesday, the company run by Elon Musk reported a loss of $541m, or 9 cents per share, in the three months through June, less than half what financial analysts had expected.

Revenue jumped to $7.8bn, up more than 90 percent from the year-earlier period, beating analyst expectations. LSEG had forecast revenue growth of more than $6.9bn, and Bloomberg analysts had forecast $6.8bn.

The Starbase, Texas-based giant ended the second quarter with $100bn in cash, according to United States Securities and Exchange Commission filings.

The company touted several achievements in the quarter, including $6bn in new US government contracts for Starshield, its national security-centric satellite system, and two successful launches of its Starship V3 in the last 90 days.

Starlink and SpaceX’s broader connectivity operations remain the company’s primary financial engine, underpinning Musk’s push to build an AI-first business that extends beyond renting compute capacity to developing frontier models, consumer and enterprise software, and, eventually, data centres in space.

The company’s satellite-internet unit has continued to expand its global subscriber base, aided by launches of additional satellites and a growing range of consumer, enterprise, aviation, maritime and government services.

Investors are watching whether SpaceX can maintain growth while improving the economics of its network, particularly as it spends heavily to expand coverage, increase capacity and develop direct-to-device mobile services.

The company said it spent $18.37bn on Starlink and Starship expansion efforts, in addition to building out its AI infrastructure. Musk said the company expects its “Starmind” AI satellites to be launched next year.

In its AI business, the tech giant had an operating loss of $1.2bn, as the company also released its most powerful Grok model yet. This comes as the company faces lawsuits around the globe for Grok being used to generate sexualised images of people without their consent.

Separately, SpaceX said it had partnered with Nvidia to use its chips in the Starmind AI1 orbital compute satellites.

When SpaceX debuted on public markets earlier this year, it was the largest stock market debut in history, cementing Musk as the world’s first trillionaire. However, it was a short-lived title because of a sell-off in the broader AI sector and on investor worries that Musk had oversold them on the company’s future prospects for space travel and colonisation, among other issues.

The company’s stock has tumbled 8 percent since its IPO.

SpaceX surged on Tuesday trading. It finished the day up 9.4 percent, but has since tumbled in after-hours trading and was down 7.2 percent since the market close.

Mérida, July 31, 2026 (venezuelanalysis.com) – Venezuela’s National Telecommunications Commission (CONATEL) held a formal working session with SpaceX executives to establish the legal, technical, and financial parameters for the regularized rollout of Starlink’s satellite internet services nationwide.

CONATEL Director General Enrique Quintana led the bilateral meeting with representatives from the Elon Musk-owned company: Emmanuel Cárdenas, SpaceX’s Director of Legal and Regulatory Affairs for Latin America; Catalina Castellanos, regional telecom legal advisor; and Rebecca Hunter, Director of Market Access.

During the sessions, the regulatory body requested that SpaceX initiate the formal homologation process for its satellite hardware via CONATEL’s digital platform. This step assures that user terminals and ground equipment comply with national standards for data security, spectrum allocation, and operational quality. The talks also focused on data transport infrastructure and the formal authorization for radio frequency bands required under Venezuela’s Organic Telecommunications Law.

SpaceX’s delegation reportedly expressed full willingness to align the company’s legal and corporate status with Venezuela’s regulatory requirements. Quintana, on behalf of Acting President Delcy Rodríguez, highlighted the importance of the working group to promote telecommunications throughout the country.

While imported Starlink receiver dishes have already been circulating among private buyers for years, the satellite service officially made its signal available across Venezuelan territory following the January 3 US strikes on Venezuela and the kidnapping of President Nicolás Maduro. At the time, SpaceX offered a free promotional connectivity window for both newly registered local users and existing international roaming hardware.

CONATEL’s engagement accelerated following the June 24 double earthquake, which damaged communications infrastructure in central coastal regions. To assist with emergency management and humanitarian relief, CONATEL granted SpaceX a temporary pilot authorization.

This operational exemption allowed civil protection and disaster relief teams to deploy Starlink terminals in hard-hit areas, notably across La Guaira state, where damaged fiber-optic networks had disrupted local communications.

Acting President Rodríguez thanked Musk and his team via social media. 

“Thank you, Elon Musk and the Starlink team, for helping those affected by the earthquakes in Venezuela with free internet access. Every connection counts in times like these,” she wrote at the time.

In addition, CONATEL highlighted that expanding satellite internet options complements existing state-owned and private telecommunications providers, offering critical redundancy during natural disasters or power disruptions.

The institutional dialogue between state regulators and SpaceX unfolds a political history, following clashes between President Nicolás Maduro and company CEO Elon Musk.

Tensions peaked in August 2024 following Venezuela’s presidential election, when Musk used his social media platform X to launch verbal attacks against the Venezuelan government, accusing Maduro of electoral fraud and calling for foreign intervention.

In response, Maduro denounced the tech billionaire for using his digital platform to incite hatred, destabilization, and political violence inside Venezuela. “Out of Venezuela, Elon Musk!” he said in a public rally.

CONATEL initially enacted a 10-day suspension of X in the Caribbean nation which was later extended. In recent weeks, Venezuelan telecom and mobile service providers have unblocked access, though CONATEL has not formally announced the reinstatement of the social media platform.

Musk has drawn scrutiny across Latin America and internationally for his open alignment with far-right political figures and reactionary causes.

The outspoken billionaire has frequently used his global platform to endorse far-right politicians, express support for neoliberal deregulation, and launch hostile commentary directed at progressive and leftist governments.

Starlink has also been embroiled in controversy as a result of Musk’s direct control and political views. The company introduced a “whitelist” to ban access to Russian users in an effort to disrupt communications amid the war in Ukraine. In Gaza, Starlink has operated in integration with Israeli occupation forces, raising concerns of complicity in war crimes.

Edited by Ricardo Vaz in Caracas.

July 30 (UPI) — A Falcon 9 rocket topped with a classified payload for the National Reconnaissance Office launched from Florida’s east coast early Thursday.

The rocket launched at 3:10 a.m. EDT from Space Launch Complex 40 at Cape Canaveral Space Force Station in Florida.

Little information about the NROL-95 mission has been made public aside from the fact that the payload was designed, built and will be operated by the NRO. The broadcast of the launch was restricted at the request of the NRO, SpaceX said, with the second stage two and deployment of the payload not shown.

The first-stage booster, on its seventh flight, returned to Earth and successfully landed at Cape Canaveral Space Force Station.

It was the 88th Falcon launch of the year and the 12th this month, according to SpaceX.

There was a 30% chance of weather-related launch constraints, with a backup launch scheduled for Friday.

July 24 (UPI) — SpaceX on Friday had a successful 13th flight test of Starship, the space vessel and rocket duo that is expected to help NASA return humans to the moon.

Starship lifted off from SpaceX’s Starbase in Texas around 6:45 p.m. on a suborbital trajectory — just barely getting to space while performing a number of key maneuvers — before a soft splashdown in the Indian Ocean.

Both SpaceX and its owner, Elon Musk, said in posts on X that the test was a success, most notably because of the significant improvement in performance for the ship’s heat shield during reentry.

They also said it was notable that after mimicking the way Starship will eventually land upright, the vessel did not explode upon landing in the Indian Ocean and was still transmitting telemetry data and video.

The test of Starship’s third iteration had been pushed back several times because of weather concerns, which would have interfered in parts of the SpaceX team’s test goals.

The flight was the second for the third version of Starship and its Super Heavy V3 booster, and accomplished — with updated systems — a similar set of test objectives as the 12th flight, SpaceX said.

“A key objective for the flight test is to get clear imagery from the ground of Starship’s heatshield as it flies at a higher dynamic pressure during ascent, which won’t be possible with today’s weather conditions,” SpaceX said in an update on X after scrubbing Thursday’s launch attempt.

“Visibility is forecast to be ideal for a Friday attempt,” the company said.

SpaceX said that upgrades to Starship for the 13th flight test have included changes to the vessel’s startup sequence and adjustments to Raptor engines on both its booster section and the ship itself.

The upgrades were meant to address issues with a small number of engines during boost back and relighting in space during the 12th flight test.

Starship also will be carrying 20 Starlink V3 satellites into space during the test flight, which SpaceX said “aim to greatly expand the network’s capacity and user speeds.”

July 16 (UPI) — SpaceX on Thursday scrubbed the planned 13th test light of its massive Starship megarocket just seconds before it was set to lift off from the company’s Texas Starbase.

The launch was abruptly canceled just before the “Super Heavy” booster was about to ignite its multiple engines.

“Standing down from today’s flight test attempt,” launch commanders posted on X, without immediately offering a further explanation.

It remained unclear when another launch would be scheduled.

In the build-up to the planned launch, the company says it is aiming to fine-tune the performance of third version of the most powerful rocket ever built with Thursday’s mission — specifically the Super Heavy booster.

During the 12th test flight May 22 it encountered several hiccups, including slight differences in engine startup at separation stage causing the directional flip of the booster to be off by approximately 90 degrees.

The booster was supposed to perform a sustained burn to a controlled landing in the gulf, but the engine failure meant it fell back to Earth instead in a “hard splashdown,” SpaceX said in its launch report.

The Federal Aviation Administration said there were no reports of public injury or damage to public property from the mishap.

In response, SpaceX said in a blog post that “the startup sequence has been modified to be more robust to timing variability and more reliably flip in the desired direction, which is done to increase overall performance.”

Also during Flight 12, the Super Heavy booster encountered problems when attempting its boostback burn in which five of its 33 engines malfunctioned when attempting to re-light. This caused the boostback burn to end early.

“The Super Heavy on this upcoming flight has hardware modifications to improve re-light reliability along with updates to engine alarms and aborts to match the conditions seen in the multi-engine flight environment,” Space X said.

The Starship system has two parts: the Super Heavy booster and the spacecraft itself, also called Starship, or sometimes just “Ship.”

Flight 12 was the first launch of the third version of the system, which is the first capable of deep-space flight. Plans call for Starship to carry Artemis 4 astronauts to the surface of the moon in a mission set for late 2028.

In another notable element of Thursday’s Flight 13, Starship for the first time will carry V3 Starlink satellites to space as the company aims to “greatly expand” its communications network’s capacity and user speeds.

As part of this initial test, Starship is set to deploy 20 satellites which will extend solar arrays and antennas in a bid to connect with the larger Starlink constellation via high-capacity lasers as they will be on the same suborbital trajectory as Starship.

Those satellites are designed to burn up on reentry into the Earth’s atmosphere approximately 20 minutes after deployment.

July 16 (UPI) — Thousands of Ukrainians rallied in central Kyiv and other cities on Thursday demanding the reinstatement of sacked Defense Minister Mykhailo Fedorov ahead of a vote in parliament to approve his replacement.

The mostly young protestors, waving Ukrainian flags and holding up signs condemning the removal of the popular political figure, shouted “reappoint” and “shame.”

“Hands off Fedorov” and “Stop sabotaging victory!” read some of the placards hours after President Volodymyr Zelensky dismissed Fedorov after just six months in the job as part of a major reshuffle of his cabinet.

The demonstrations come amid widespread opposition by lawmakers, the military and civil society demanding to know the reason for the ejection of one of the government’s most capable officials.

Among other achievements, Fedorov has been credited with breathing new life into the Defense Ministry, spearheading an anti-corruption drive, using data analysis to try to boost battlefield capabilities and opening a new front targeting critical Russian infrastructure in occupied Crimea and the Asov Sea.

In his previous government role in charge of digital transformation, he is credited with successfully lobbying SpaceX‘s Elon Musk to block the guidance systems of Russian drones from utilizing the firm’s Starlink satellite arrays. He also persuaded Musk to supply Starlink terminals to keep the country online amid sabotage of Ukraine‘s terrestrial internet networks.

Protesters said Fedorov’s dismissal would make people doubt the reforms he had embarked on.

A number of lawmakers from the ruling party have indicated they will not back the appointment of Ihor Klymenko, who currently serves as the minister of the interior, with at least one threatening to quit.

“Klymenko might not have enough votes. It’s not even about Fedorov. People have accumulated frustration and fatigue, and Fedorov’s resignation may cause unexpected social turmoil,” an unnamed lawmaker from the ruling party told The Kyiv Independent.

Tatiana Bohdanovska, 29, who lost her younger brother in battle in Kharkiv province four years ago, said it was a slap in the face to those killed defending Ukraine.

“My brother died believing this country would become different. If the government had invested earlier in technology and supported the army the way it should have, maybe he would still be alive,” she said.

Oleksandr, a serving soldier, told the BBC it was “the worst mistake Zelensky has made during his entire presidency.”

Fedorov’s dismissal — part of a shakeup that saw state-run Naftogaz CEO Serhiy Koretsky replace Yuliia Svyrydenko as prime minister — has been attributed to personal friction between him and Commander-in-Chief Oleksandr Syrskyi.

Speaking at a press conference on Thursday, Fedorov accused Syrskyi of sowing division among Ukrainians.

He said he tried to work with Syrskyi and his Chief of the General Staff Andrii Hnatov after Zelensky declined to replace them but every improvement he tried to initiate was rebuffed.

“Instead of finding a way of defeating Russia asymmetrically — which is the job of the commander-in-chief [Syrskyi] — he’s found a way of splitting our country,” said Fedorov.

However, Fedorov said he was 100% confident it would turn out for the best, stressing that Zelensky “hears the Ukrainian people, knows what to do.”

“I don’t believe he has yet chosen a side in the Syrskyi matter. I spoke with him today and said that I am acting according to my conscience,” he said.

Japan’s ispace is expanding its role in the commercial lunar economy after two unsuccessful moon landing attempts in 2023 and 2025. The company is developing its next-generation Ultra lunar landers, including a mission under NASA’s Commercial Lunar Payload Services (CLPS) programme, as competition intensifies in the race to build sustainable infrastructure for future lunar exploration.

Ispace partners with SpaceX for shared lunar transport

Japanese lunar transport company ispace said on Wednesday it would launch a new lower-cost lunar cargo business using SpaceX’s Starship rocket and lunar landing system, marking a significant expansion of its commercial Moon ambitions.

Tokyo-based ispace has purchased 500 kilograms (1,102 pounds) of payload capacity aboard a future Starship mission expected to land on the Moon as early as 2030. The agreement, valued at $50 million, will allow the company to transport customer payloads through a shared-ride service while developing a lunar surface vehicle capable of carrying cargo from multiple clients.

The company described the new offering as a “lunar access integrator” service, providing a cost-effective way for governments, research organisations and commercial customers to send equipment to the Moon without requiring dedicated spacecraft.

Shared rides aim to cut lunar mission costs

Hideari Kamiya, ispace’s executive vice president, said the service would complement the company’s ongoing development of dedicated lunar landers described as “taxis” by functioning more like a shared transportation “bus” for lunar cargo.

The partnership expands an existing relationship between the two companies. ispace previously relied on SpaceX’s Falcon 9 rockets for its lunar missions in 2023 and 2025, although both attempts ended unsuccessfully before achieving a soft landing.

Ispace continues long-term Moon ambitions

Despite those setbacks, ispace continues to pursue its long-term lunar programme and plans to land three next-generation Ultra landers by 2030, including one mission under NASA’s Commercial Lunar Payload Services initiative.

Chief Executive Takeshi Hakamada said working with Starship would “exponentially” accelerate the company’s growth in the emerging lunar infrastructure market while allowing it to continue developing its own landing technology.

SpaceX expands commercial lunar partnerships

SpaceX welcomed the expanded partnership, saying Starship’s reusable design could significantly improve access to the Moon for commercial customers.

Stephanie Bednarek, SpaceX’s vice president of commercial sales, said ispace’s integration services would provide an important pathway for smaller payloads seeking affordable lunar transportation.

Although the agreement is not exclusive, NASA plans to use Starship for its first crewed lunar landing under the Artemis programme in 2028, while U.S.-based lunar rover developer Astrolab has also reserved space on future Starship missions.

Hakamada said SpaceX initially approached ispace with the idea of creating a shared lunar cargo integration business, adding that while competitors may eventually enter the market, few companies currently possess both the transportation expertise and the capability to continue supporting payloads after landing on the Moon.

Future outlook

The partnership reflects the rapid commercialisation of lunar exploration, with companies increasingly seeking lower-cost and more flexible ways to reach the Moon. If Starship enters operational lunar service on schedule, ispace could establish itself as a key provider of shared lunar logistics, expanding opportunities for governments, research institutions and private companies. However, the project’s success will depend on Starship meeting its development milestones and sustaining a reliable launch cadence, making the coming years critical for both companies’ ambitions in the emerging lunar economy.

With information from Reuters.

South Korea aims to establish a low-Earth orbit satellite communications network composed of hundreds of satellites by 2035 and accelerate the country’s first lunar landing to 2030, the state-run space agency said Friday.

The Korea AeroSpace Administration (KASA) unveiled the plan during a public briefing on advanced industry development held in the southeastern city of Jinju. The strategy was approved earlier in the day by the National Space Council, chaired by President Lee Jae Myung.

KASA said building the network will help strengthen South Korea’s domestic satellite and launch vehicle development and manufacturing ecosystem as the country pushes to build its own version of SpaceX‘s Starlink network.

“Leading space nations are making all-out efforts to build low-Earth orbit satellite communications networks, which are critical infrastructure for safeguarding national security and communications sovereignty, as well as a strategic foundation for the 6G era,” KASA Administrator Oh Tae-seok said.

The agency said it plans to launch between 128 and 512 satellites, which cost at least 4 trillion won (US$2.62 billion) and up to 13.2 trillion won every five years.

The government also said it plans to set up a special purpose company (SPC) along with private firms for the sale of information amassed through satellites.

The SPC, to be more than 70 percent owned by private firms, is expected to generate over $1.7 billion in sales by 2034, the agency said.

KASA also aims to bring forward South Korea’s first lunar landing to 2030, two years ahead of schedule.

Instead of waiting for the next-generation launch vehicle, which is scheduled to debut in 2032, the government plans to send a privately developed small lunar lander aboard the three-stage Nuri rocket in 2030.

Oh also said South Korea plans to launch a lunar communications orbiter in 2029 and an Earth-moon scientific exploration probe in 2031 to lay the groundwork for an expanded lunar exploration program.

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Published on
23/06/2026 – 10:53 GMT+2

SpaceX shares closed at $154.63 on Monday, down around 16% on the day. That leaves them within touching distance of the $150 at which the shares first changed hands when public trading opened, the level set once underwriters finished building the order book, though still some way above the $135 price at which the IPO itself was struck.

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The slide has erased more than $600 billion (€524.2bn) in market value over three trading days, dragging the company down from a peak that had lifted it past Amazon and, fleetingly, Microsoft, in terms of market capitalisation.

Its valuation now sits just above $2 trillion (€1.74tn), below Taiwan Semiconductor Manufacturing Company (TSMC), making it the seventh most valuable company in the world.

The retreat unwinds a remarkable opening run.

After the open at around $150 on 12 June, shares climbed to almost $226 by 16 June, a gain of roughly two-thirds before the company had published a single set of results as a public firm.

Currently, SpaceX is trading over 30% lower than the intraday high of around $226 and only 3% higher than the opening price.

That rally always rested on a thin pool of freely traded shares and lofty expectations for its AI ambitions, leaving it exposed to a sharp reversal once sentiment turned.

Tapping debt to fund the AI push

The latest leg down on Monday coincided with SpaceX’s first move into the corporate debt market.

The company announced an inaugural offering of senior unsecured notes, with people familiar with the plans reportedly putting the target at around $20 billion (€17.4bn).

The proceeds are earmarked chiefly to repay a bridge loan taken on during its merger with Elon Musk’s AI venture xAI earlier this year, with the remainder going to general corporate purposes.

The debut bond sale follows the investment-grade credit ratings awarded last Friday by all three major agencies, Moody’s at Baa1, Fitch at BBB+ and S&P Global at BBB, which open the door to cheaper borrowing and a wider pool of institutional lenders.

In documents tied to the offering, SpaceX also disclosed a cash position of roughly $100.8 billion (€88bn) as of 19 June, much of it raised in the IPO, alongside $29.1 billion (€25.4bn) of long-term debt.

That mix of vast cash reserves and fresh borrowing so soon after a record flotation has unsettled some investors, who see the rapid fundraising as a sign of heavy spending ahead as SpaceX scales its AI and data centre plans.

Opting for debt rather than new shares does, however, spare existing shareholders further dilution, preserving their economic stake while the company funds its expansion.

Published on
19/06/2026 – 10:37 GMT+2

Elon Musk’s space and AI firm secured first-time ratings from Moody’s, Fitch and S&P Global on Thursday, a milestone that places its debt firmly in investment-grade territory and could allow it to borrow more cheaply as it funds a vast expansion.

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The endorsements arrive less than a week after the company’s record IPO, which raised around $85.7 billion (€73.8bn) in the largest initial public offering in history.

Moody’s assigned SpaceX a Baa1 long-term issuer rating with a stable outlook. In its report, the agency pointed to the firm’s “exceptional franchise strength” as the world’s leading orbital launch provider and operator of Starlink, the largest low Earth orbit satellite broadband network.

The rating is also slightly higher than Tesla’s Baa3. Reacting to the news in a reply on social media, Elon Musk wrote: “Tesla’s credit rating is ridiculously low to be honest.”

According to Moody’s, Starlink has become SpaceX’s primary cash flow generator, underpinning improving scale, wider margins and a gradual shift away from more cyclical launch revenue.

Moody’s also set out the risks. It said the rating was constrained by the heavy execution and financial demands of SpaceX’s large-scale AI buildout, marked by high capital intensity, sustained negative free cash flow and an uncertain range of returns.

The agency highlighted the company’s dependence on the next-generation Starship V3 vehicle, warning that technical setbacks or delays could pressure long-term growth.

It further pointed to elevated governance risks tied to SpaceX’s controlled structure and concentrated voting power, which it said limit independent board oversight and leave the firm heavily reliant on a single individual, Elon Musk.

However, Moody’s still projects strong revenue and earnings growth through 2028, driven chiefly by Starlink, which counted 12 million subscribers as of early June, alongside an expected turning point in the AI division.

The agency cited recent third-party compute deals with Anthropic and Google worth a combined $75 billion (€65bn) as evidence of that potential.

As for the other credit agencies, Fitch issued a BBB+ long-term issuer default rating, also with a stable outlook, citing the company’s commanding lead in commercial launch, where it has delivered more than 80% of global mass to orbit since 2023.

Meanwhile, S&P Global assigned a BBB rating with a stable outlook, weighing the strength of the launch and connectivity businesses against the risks of the nascent AI segment and the company’s substantial capital needs.

Shares slide from their peak

The ratings did little to steady the stock on Thursday.

SpaceX closed at $185, down more than 18% from the high of $225.6 it reached on Tuesday, when its valuation briefly topped $3 trillion (€2.6tn).

The shares fell as low as $172 during the session before paring losses, as investors weighed whether the company’s lofty valuation had run too far.

The retreat has reshuffled SpaceX’s standing among the world’s corporate giants. The company now ranks once again as the sixth most valuable listed firm by market capitalisation, having given back some of the ground it gained earlier in the week.

On Tuesday, it had overtaken Amazon to claim fifth place, and at its intraday peak, it briefly leapfrogged Microsoft into fourth before this week’s slide pushed it back down.

Even after surrendering some of those gains, SpaceX sits among the most valuable companies on the planet just a week into its life as a public firm, and the investment-grade verdict from all three major agencies marks a notable shift in how financial markets judge a business that spent years operating as a privately funded rocket maker.

Published on
17/06/2026 – 11:13 GMT+2

Elon Musk’s space and AI conglomerate ended its third day of public trading worth roughly $2.65 trillion (€2.28tn), having displaced Amazon in the global market-capitalisation rankings.

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The stock settled at $201.8 per share, in a debut week that has rewritten the upper reaches of the world’s equity leaderboard at remarkable speed.

The milestone caps an already extraordinary stretch for the company, which listed on the Nasdaq under the ticker SPCX only last Friday.

SpaceX priced 555.6 million Class A shares at $135 each, raising around $75 billion (€65bn) in what was the largest initial public offering in history, comfortably eclipsing the $29.4 billion (€25.3bn) that Saudi Aramco raised in 2019.

The company also increased the total capital raised to $85.7 billion (€73.8bn) after underwriters exercised the “greenshoe” option to purchase additional shares on Monday due to exceptional demand.

At Tuesday’s close, the stock was trading more than 50% above its IPO price.

During the trading session, share prices climbed as high as $225.6, briefly pushing SpaceX’s valuation above $3 trillion (€2.58tn) and, for a moment, ahead of Microsoft as the world’s fourth most valuable company.

The stock later pared those gains, closing below that threshold, but the intraday spike underscored the intensity of investor appetite for the listing.

Based on Tuesday’s closing prices, only Nvidia ($5tr), Alphabet ($4.5tr), Apple ($4.4tr) and Microsoft ($2.9tr) had larger market capitalisations than SpaceX. Eight of the world’s ten most valuable listed companies are tied to the technology and AI sector, a concentration that has defined markets throughout 2026.

The Cursor deal fuels the surge

Tuesday’s advance coincided with a significant strategic move.

Before the opening bell, SpaceX announced an all-stock agreement to acquire Anysphere, the developer behind the AI coding assistant Cursor, in a deal valuing the startup at $60 billion (€51.7bn).

According to a regulatory filing, a SpaceX subsidiary will merge into Anysphere, leaving Cursor as a wholly owned arm of the group, with completion expected in the third quarter, subject to regulatory approval.

The purchase deepens SpaceX’s push into enterprise AI, a market where rivals such as OpenAI and Anthropic have gained early commercial traction, and it follows the company’s merger with Musk’s xAI venture in February.

The acquisition stems from an option SpaceX secured in April, under which it agreed either to acquire Cursor for $60 billion (€51.7bn) later this year or pay $10 billion (€8.6bn) for a more limited partnership to access its computing technology.

However, despite all the positive news, the speed of the climb has drawn caution.

Sceptics argue that SpaceX remains overvalued, given that it has yet to turn a profit and only 3% to 4% of its total equity is publicly traded.

A fast-track route into major stock indices, which compels passive funds to buy the shares, is expected to further amplify demand for the limited supply of shares in the opening days of trading.

This article does not constitute financial advice, always do your own research and invest according to your specific circumstances.

Published on 16/06/2026 – 14:21 GMT+2•Updated
14:25

SpaceX is pushing deeper into AI with its largest acquisition yet, striking a $60 billion (€51.7bn) all-stock agreement to buy Anysphere, the developer of the AI coding assistant Cursor.

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The purchase, announced on Tuesday, is intended to strengthen SpaceX’s position in the enterprise AI market, where rivals such as OpenAI and Anthropic have found early commercial traction.

Anysphere is a San Francisco startup that uses AI to automate large parts of software development, and its Cursor tool is widely used by programmers.

According to a regulatory filing, the two sides signed a merger agreement under which a SpaceX subsidiary, X67 Inc., will merge into Anysphere, leaving Cursor as a wholly owned subsidiary.

The merger is expected to close in the third quarter of this year, subject to regulatory approval.

The deal lands barely a week after Elon Musk’s company completed a blockbuster listing, and marks an aggressive move beyond rockets and satellites into enterprise AI software.

At the time of writing, SpaceX shares were trading a few cents below $200 in premarket trading, up more than 4% from Monday’s close and roughly 50% higher than its IPO price of $135.

Tuesday’s rally could see SpaceX overtake Amazon by market capitalisation if gains hold through the session.

The acquisition follows an option SpaceX secured in April, when it agreed to either acquire Cursor for $60 billion (€51.7bn) later in the year or pay $10 billion (€8.6bn) for a narrower partnership to provide compute.

Founded in 2022, Cursor has grown quickly, reporting roughly $2.6 billion (€2.2bn) in annualised business-to-business revenue, according to company data shared with Reuters this month.

The firm had previously raised more than $3 billion (€2.5bn) from backers including Nvidia and OpenAI.

SpaceX merged with Musk’s chatbot venture xAI in February, and this new deal could hand xAI a stronger position in AI-assisted coding, an area where it has trailed competitors, while giving Cursor access to far greater computing power.

Published on
16/06/2026 – 13:52 GMT+2

Wall Street’s most famous market label may be outdated.

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The ‘Magnificent 7’ or ‘Mag 7’ defined the first phase of the AI rally, as it included Nvidia, Apple, Microsoft, Alphabet, Amazon, Meta and Tesla, but a fresh grouping is now circulating among investors keen to capture its next leg.

In the wake of SpaceX’s blockbuster listing, analysts are looking to add Elon Musk’s company, as well as OpenAI and Anthropic, which are expected to IPO later this year, to a new market label.

Coined by the British financial firm Vanda Research, the ‘FAB 10’ stands for Frontier AI & Big Tech 10, and takes the original seven companies from ‘Mag 7’ together with the three new market darlings.

According to Vanda, last Friday’s SpaceX IPO offered the clearest signal yet that attention is widening beyond the ‘Magnificent 7’.

After Monday’s close above $192 per share, Elon Musk’s space and AI firm is now the sixth most valuable company in the world by market capitalisation.

What the new label captures

The term ‘Magnificent 7’ was coined in late 2023 by Michael Hartnett, who wanted a single term for the megacap stocks powering the market to records.

Their combined value now sits at roughly $22.6 trillion (€19.5tn), with Nvidia alone worth more than $5 trillion (€4.33tn) as the most valuable company in the world by market capitalisation.

The three newcomers represent a different flavour of the same AI boom.

SpaceX brings aerospace and satellite connectivity through its Starlink unit, while OpenAI and Anthropic are among the leading developers of frontier AI models.

According to Vanda, the ten companies collectively map the direction of the AI and technology sectors over the coming decade.

However, a wrinkle in the label is that two of the additions are not yet listed.

OpenAI and Anthropic remain private, though both have filed to approach public markets this year, potentially at valuations surpassing $1 trillion (€861bn) and making the ‘FAB 10’ as much a shorthand as a tradable basket.

The ‘FAB 10’ is also not the only contender.

Bank of America has floated an ‘AI Big 10’ that instead adds the chipmakers Broadcom, Advanced Micro Devices (AMD) and Micron, reflecting the semiconductor rally.

Others have suggested smaller clusters, such as the rival ‘MANGOS’ label, which has surfaced and includes Meta, Anthropic, Nvidia, Google (Alphabet), OpenAI and SpaceX.

Strategists caution that none of the names signals the demise of the ‘Magnificent 7’, which still accounts for roughly a third of the S&P 500 index. Investors are not abandoning the originals but simply broadening the definition of who leads the AI era.

As Vanda frames it, the next decade’s winners may simply need a bigger tent.

In SpaceX’s case, appetite was exceptionally high. The underwriters, which included Goldman Sachs, Bank of America, and JPMorgan, exercised the option in full, purchasing an additional 83.3 million shares directly from the company to meet the huge demand.

June 12 (Asia Today) — Hanmi Semiconductor said Friday it will invest about 50 billion won, or $32.9 million, in SpaceX as part of a strategic move tied to future cooperation in artificial intelligence chip manufacturing.

The South Korean semiconductor equipment maker said in a regulatory filing it plans to acquire shares in SpaceX on Monday. SpaceX, founded by Elon Musk, is a private aerospace company known for rocket technology and its Starlink satellite communications service.

Hanmi Semiconductor said the investment was made with an eye toward potential cooperation related to Musk’s Terafab project, an AI semiconductor manufacturing plan involving SpaceX, Tesla and xAI.

The project is aimed at building chip production capacity for Musk’s companies, including SpaceX, Tesla and xAI, as demand grows for AI semiconductors, satellite data services and global network infrastructure.

Market expectations for SpaceX have grown ahead of its expected public listing, with some estimates putting the company’s value at about 2,600 trillion won, or roughly $1.7 trillion.

Hanmi Semiconductor said it made the investment to position itself early in the expansion of AI infrastructure from semiconductors and data centers into aerospace, satellite communications and data industries.

The company has previously invested in businesses with future growth potential. Hanmi Semiconductor Chairman Kwak Dong-shin has pursued several investments connected to his relationship with Peter Thiel, the co-founder of Palantir.

Crescendo Equity Partners, a global private equity firm backed by Thiel, invested in Hanmi Semiconductor in 2013, marking the first investment of its kind in a Korean company. Hanmi Semiconductor said its latest investment in SpaceX also stems from that connection.

Kwak and Hanmi Semiconductor jointly invested in semiconductor equipment maker HPSP in 2021, generating a return of about 639% from the original investment. In 2024, Kwak personally invested 31 billion won, or about $20.4 million, in Line Next, a global Web3 company affiliated with LY Corp., acquiring an 8.5% stake.

A Hanmi Semiconductor official said the company decided to invest in SpaceX, a participant in Musk’s Terafab project, as AI industry growth expands beyond semiconductors and data centers into aerospace, satellite communications and data businesses.

The company said it plans to reinvest expected returns from the SpaceX investment into its core semiconductor equipment business to support sustainable growth and increase corporate and shareholder value.

— Reported by Asia Today; translated by UPI

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Original Korean report: https://www.asiatoday.co.kr/kn/view.php?key=20260612010004261