SpaceX Is Worth $1.75 Trillion. Only 7% of That Is Real.
SpaceX filed a Form S‑1 on May 20 to raise up to $80 billion in a dual‑class IPO that would value the company at roughly $1.75 trillion, making it one of the world’s most valuable public firms. The prospectus breaks the business into three segments: Connectivity, which generated $11.4 billion in 2025 revenue with a 63% EBITDA margin; Space launch, which posted a $657 million operating loss largely due to $3 billion Starship R&D spend; and AI, which recorded $3.2 billion revenue but a $6.4 billion loss and $13 billion capex. Only about 7% of the implied valuation is backed by current profit, leaving investors to bet on future execution.
The Pentagon’s New Battery Rule Could Reshape the Drone Market
The FY2026 National Defense Authorization Act added a country‑of‑origin filter that bars the Department of Defense from buying advanced batteries sourced from China, Russia, Iran or North Korea. The rule, Section 842, phases in for new acquisitions on Jan 1 2028 and...
VLS Timeline on New British Warships yet to Be Confirmed
The UK Ministry of Defence declined to set Initial or Full Operating Capability dates for the Mk 41 Vertical Launch System (VLS) on the Royal Navy’s Type 26 and Type 31 frigates, saying timelines will be confirmed later. Both classes will eventually carry...
SpaceX Reveals Reason for Starship V3 Stand Down, Announces Next Launch Date
SpaceX scrubbed the inaugural test flight of its upgraded Starship V3 on May 21 after a hydraulic pin on the launch tower’s retractable arm failed to retract. Elon Musk announced the issue on X and said the team would repair...
Space 42: D2D Market “Massive”
Abu Dhabi‑based Space42, owner of the Al‑Yah/Yahsat and Thuraya constellations, announced a joint venture with California’s Viasat called Equatys to tap the Direct‑to‑Device (D2D) market, which it estimates at $50 billion (about €43.4 bn). The partnership will fund a 2,800‑satellite fleet spanning...
Teledyne CCD370 Sensors Launch on SMILE Mission
Teledyne Space Imaging has launched two CCD370 imaging sensors aboard ESA’s SMILE mission, which lifted off on a Vega‑C rocket from French Guiana on 19 May 2026. The sensors sit at the core of the Soft X‑ray Imager, capturing photons...
One Bow River Invests in Aerospace Startup PteroDynamics
Venture capital firm One Bow River has announced an investment in PteroDynamics, an aerospace company developing a transwing VTOL unmanned aircraft system. The funding will accelerate development, flight testing, and manufacturing scale for the new platform. Deal terms and amount...