SpaceX
SpaceX shows off first completed Crew Dragon spaceship with new Falcon 9
New photos posted from an official tour of SpaceX’s Pad 39A launch facilities reveal that SpaceX has effectively completed integration and preflight preparations of the company’s first flightworthy Crew Dragon spacecraft, as well as the new Falcon 9 Block 5 rocket that will be tasked with launching it early next year.
Currently targeting launch no earlier than (NET) January 17th, this inaugural Crew Dragon launch – known as Demonstration Mission 1 (DM-1) – will be conducted without a crew aboard to ensure that the spacecraft’s performance and characteristics fit within design parameters, hopefully giving NASA the data it needs to certify Crew Dragon to launch astronauts as early as June 2019.
omfg @spacex just posted some absolutely stunning photos inside Pad 39A's hangar: meet the first completed Crew Dragon and its Falcon 9 Block 5 rocket (B1051) 😀 In the far left (second photo), you can also see what is probably B1047 in the midst of refurbishment. pic.twitter.com/NWULyAEhpQ
— Eric Ralph (@13ericralph31) December 18, 2018
Aside from the wonderful fact that all (or nearly all) of the hardware needed for Crew Dragon’s launch debut can be seen in the four photos posted today, this is also the first time SpaceX has ever provided a real photo of the next-gen spacecraft’s trunk-based solar array. A dramatic departure from Cargo Dragon’s more traditional duo of multi-panel solar arrays, which deploy from disposable covers and fold out like wings, SpaceX decided from the start that Crew Dragon would take a much different approach. In a move that presumably cut the risk of solar array deployment, Crew Dragon’s panels are conformally attached (i.e. curved to fit) to the disposable trunk’s rear exterior.
Incredible opportunity to see @SpaceX's Dragon 2 Capsule – an important part of the future of American human space exploration as we aim to return American astronauts to space on U.S. rockets from U.S. soil! pic.twitter.com/Pk5lkpOFEX
— Vice President Mike Pence Archived (@VP45) December 18, 2018
Rather than deploying its arrays like wings, Crew Dragon will always have its solar cells ready and waiting to generate power, simply requiring the spacecraft to face one half of its trunk towards the sun. According to a few individuals involved with the trunk, guaranteeing food fitment between individual cells and subsections and avoiding the problems caused by different thermal expansion coefficients (shrinking and expanding as the temperature changes) was no easy task and led to many, many headaches in the final weeks of integration and testing. From a less objective standpoint, Crew Dragon’s new conformal solar array is absolutely stunning, and it will be a shame to see each sculpture-like trunk relegated to a destructive atmospheric reentry after each launch.
Pragmatically speaking, it’s extremely satisfying to see all the hardware (both rocket and spacecraft) effectively under the same roof at the launch pad they will soon lift off from. Much like Falcon Heavy, NASA’s Commercial Crew Program (CCP) has been beset with the better part of two years of delays from original launch targets in 2017 for both Boeing and SpaceX. Since then, a combination of NASA bureaucracy and technical/programmatic stumbles made by both companies have conspired to almost indefinitely delay the first uncrewed and crewed trips to orbit.
- At long last, SpaceX’s first completed Crew Dragon has been integrated with a flightworthy trunk and is awaiting attachment to Falcon 9. (SpaceX)
- The first complete Crew Dragon is likely just days away from rolling out to Pad 39A atop Falcon 9. (SpaceX)
- The DM-1 Crew Dragon testing inside SpaceX’s anechoic chamber, May 2018. (SpaceX)
- SpaceX’s Demo Mission-1 Crew Dragon seen preparing for vacuum tests at a NASA-run facility, June 2018. (SpaceX)
- The first spaceworthy Crew Dragon capsule is already in Florida, preparing for its November 2018 launch debut. The same capsule will be refurbished and reflown as few as three months after recovery. (SpaceX)
- Crew Dragon arrives at ISS. (SpaceX)
- DM-2 astronauts Bob Behnken and Doug Hurley train for their first flight in Crew Dragon. (NASA)
SpaceX suffered catastrophic Falcon 9 failures in both 2015 and 2016 and has largely been working to ameliorate the technical and organizational flaws that allowed those anomalies to occur, while also having to convince NASA that they are ready to safeguard the lives of the space agency’s astronauts. Since SpaceX’s last known total vehicle failure in September 2016, Falcon 9 and Falcon Heavy have managed an extraordinary 37 successful launches in a row in a little more than 24 months.
SpaceX is targeting Crew Dragon’s first orbital launch sometime in January 2019, with the placeholded launch date currently sitting on January 17th, pending International Space Station (ISS) availability and NASA’s go-ahead. Given the presence of Falcon 9 B1051 in 39A’s integration hangar and the fact that SpaceX technicians already appear to be integrating the first and second stages, the company may well be ready to perform a full-up dress rehearsal – involving Falcon 9 and Crew Dragon rolling out and going vertical on Pad 39A – before 2018 is out.
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Investor's Corner
SpaceX IPO is coming, CEO Elon Musk confirms
However, it appears Musk is ready for SpaceX to go public, as Ars Technica Senior Space Editor Eric Berger wrote an op-ed that indicated he thought SpaceX would go public soon. Musk replied, basically confirming it.
Elon Musk confirmed through a post on X that a SpaceX initial public offering (IPO) is on the way after hinting at it several times earlier this year.
It also comes one day after Bloomberg reported that SpaceX was aiming for a valuation of $1.5 trillion, adding that it wanted to raise $30 billion.
Musk has been transparent for most of the year that he wanted to try to figure out a way to get Tesla shareholders to invest in SpaceX, giving them access to the stock.
He has also recognized the issues of having a public stock, like litigation exposure, quarterly reporting pressures, and other inconveniences.
However, it appears Musk is ready for SpaceX to go public, as Ars Technica Senior Space Editor Eric Berger wrote an op-ed that indicated he thought SpaceX would go public soon.
Musk replied, basically confirming it:
As usual, Eric is accurate
— Elon Musk (@elonmusk) December 10, 2025
Berger believes the IPO would help support the need for $30 billion or more in capital needed to fund AI integration projects, such as space-based data centers and lunar satellite factories. Musk confirmed recently that SpaceX “will be doing” data centers in orbit.
AI appears to be a “key part” of SpaceX getting to Musk, Berger also wrote. When writing about whether or not Optimus is a viable project and product for the company, he says that none of that matters. Musk thinks it is, and that’s all that matters.
It seems like Musk has certainly mulled something this big for a very long time, and the idea of taking SpaceX public is not just likely; it is necessary for the company to get to Mars.
The details of when SpaceX will finally hit that public status are not known. Many of the reports that came out over the past few days indicate it would happen in 2026, so sooner rather than later.
But there are a lot of things on Musk’s plate early next year, especially with Cybercab production, the potential launch of Unsupervised Full Self-Driving, and the Roadster unveiling, all planned for Q1.
News
SpaceX reportedly mulling IPO, eyeing largest of all time: report
“I do want to try to figure out some way for Tesla shareholders to participate in SpaceX. I’ve been giving a lot of thought to how to give people access to SpaceX stock,” Musk said.
SpaceX is reportedly mulling an initial public offering, eyeing what would be the largest valuation at the time of availability of all time, a new report from Bloomberg said on Tuesday.
It is one of many reports involving one of Elon Musk’s companies and a massive market move, as this is not the first time we have seen reports of an IPO by SpaceX. Musk himself has also dispelled other reports in the past of a similar nature, including an xAI funding round.
SpaceX and Musk have yet to comment on the report. In the past, untrue reports were promptly replied to by the CEO; this has not yet gained any response, which is a good sign in terms of credibility.
However, he said just a few days ago that stories of this nature are inaccurate:
“There has been a lot of press claiming SpaceX is raising money at $800B, which is not accurate. SpaceX has been cash flow positive for many years and does periodic stock buybacks twice a year to provide liquidity for employees and investors. Valuation increments are a function of progress with Starship and Starlink and securing global direct-to-cell spectrum that greatly increases our addressable market. And one other thing that is arguably most significant by far.”
There has been a lot of press claiming @SpaceX is raising money at $800B, which is not accurate.
SpaceX has been cash flow positive for many years and does periodic stock buybacks twice a year to provide liquidity for employees and investors.
Valuation increments are a…
— Elon Musk (@elonmusk) December 6, 2025
Musk has discussed a potential IPO for SpaceX in recent months, as the November 6 shareholder meeting, as he commented on the “downsides” of having a public company, like litigation exposure, quarterly reporting pressures, and other inconveniences.
Nevertheless, Musk has also said he wants there to be a way for Tesla shareholders to get in on the action. At the meeting in early November, he said:
“I do want to try to figure out some way for Tesla shareholders to participate in SpaceX. I’ve been giving a lot of thought to how to give people access to SpaceX stock.”
Additionally, he added:
“Maybe at some point., SpaceX should become a public company despite all the downsides of being public.”
Musk has been historically reluctant to take SpaceX public, at times stating it could become a barrier to colonizing Mars. That does not mean it will not happen.
Bloomberg’s report cites multiple unidentified sources who are familiar with the matter. They indicate to the publication that SpaceX wants to go public in mid-to-late 2026, and it wants to raise $30 billion at a valuation of around $1.5 trillion.
This is not the first time SpaceX has discussed an IPO; we reported on it nine years ago. We hope it is true, as the community has spoken for a long time about having access to SpaceX stock. Legendary investor Ron Baron is one of the lucky few to be a SpaceX investor, and said it, along with Tesla, is a “lifetime investment.”
Tesla bull Ron Baron reveals $100M SpaceX investment, sees 3-5x return on TSLA
The primary driver of SpaceX’s value is Starlink, the company’s satellite internet service. Starlink contributes 60-70 percent of SpaceX’s revenue, meaning it is the primary value engine. Launch services, like Falcon 9 contracts, and the development of Starship, also play supporting roles.
News
SpaceX reaches incredible milestone with Starlink program
SpaceX reached an incredible milestone with its Starlink program with a launch last night, as the 3,000th satellite of the year was launched into low Earth orbit.
On Monday, SpaceX also achieved its 32nd flight with a single Falcon 9 rocket from NASA’s Kennedy Space Center.
The mission was Starlink 6-92, and it utilized the Falcon 9 B1067 for the 32nd time this year, the most-used Falcon booster. The flight delivered SpaceX’s 3000th Starlink satellite of the year, a massive achievement.
There were 29 Starlink satellites launched and deployed into LEO during this particular mission:
Falcon 9 launches 29 @Starlink satellites from Florida pic.twitter.com/utKrXjHzPN
— SpaceX (@SpaceX) December 9, 2025
SpaceX has a current goal of certifying its Falcon boosters for 40 missions apiece, according to Spaceflight Now.
The flight was the 350th orbital launch from the nearby SLC-40, and the 3,000 satellites that have been successfully launched this year continue to contribute to the company’s goal of having 12,000 satellites contributing to global internet coverage.
There are over five million users of Starlink, the latest data shows.
Following the launch and stage separation, the Falcon 9 booster completed its mission with a perfect landing on the ‘Just Read the Instructions’ droneship.
The mission was the 575th overall Falcon 9 launch, highlighting SpaceX’s operational tempo, which continues to be accelerated. The company averages two missions per week, and underscores CEO Elon Musk’s vision of a multi-planetary future, where reliable connectivity is crucial for remote work, education, and emergency response.
As Starlink expands and works toward that elusive and crucial 12,000 satellite goal, missions like 6-92 pave the way for innovations in telecommunications and enable more internet access to people across the globe.
With regulatory approvals in over 100 countries and millions of current subscribers, SpaceX continues to democratize space, proving that reusability is not just feasible, but it’s also revolutionary.






