Matt Farrah of Newcastle, Australia views SpaceX’s next-generation Starship spacecraft atop its Super Heavy booster is prepared for launch on its ninth test at the company’s launch pad in Starbase, Texas, U.S., May 27, 2025.
Joe Skipper | Reuters
SpaceX’s Super Heavy booster and Starship rocket exploded during a test flight on Tuesday, the third consecutive setback for Elon Musk’s company.
Tuesday’s un-crewed mission was the ninth test flight. The system suffered prior explosions in January and March. Together, the Starship rocket and Super Heavy booster are around 400 feet tall when stacked for a launch.
SpaceX has been developing the Starship system to transport people and equipment around Earth, and to the Moon. Musk also wants SpaceX to use Starship to colonize Mars.
A livestream of Tuesday’s test flight, which ran on the SpaceX website and on social media, showed the first-stage booster exploding and the second-stage Starship spacecraft undergoing a major fuel leak, then spinning out of control and blowing up during reentry.
The Federal Aviation Administration said in an emailed statement on Tuesday that the agency, “is aware an anomaly occurred during the SpaceX Starship Flight 9 mission that launched on Tuesday, May 27, from Starbase, Texas, and is actively working with SpaceX on the event. The agency said there were “no reports of public injury or damage to public property at this time.”
Musk, who is CEO of SpaceX and the world’s wealthiest person, wrote on X that, “Starship made it to the scheduled ship engine cutoff, so big improvement over last flight! Also no significant loss of heat shield tiles during ascent.”
He added that “leaks caused loss of main tank pressure during the coast and re-entry phase” of the rocket. Musk vowed that SpaceX would increase its Starship launch cadence with upcoming flights at a rate of about one very three to four weeks.
SpaceX was previously restricted to five Starship launches per year from its spaceport in Texas but gained a key approval from the FAA to increase its launch cadence earlier this month.
“With a test like this, success comes from what we learn, and today’s test will help us improve Starship’s reliability as SpaceX seeks to make life multiplanetary,” the company wrote in a post on X.
SpaceX didn’t respond to a request for additional information on Tuesday following what it called a “rapid unscheduled disassembly.”
In addition to running SpaceX, Tesla and artificial intelligence startup xAI, Musk leads the Trump administration’s Department of Government Efficiency (DOGE).
Musk and DOGE have implemented sweeping reductions to the federal workforce, and slashed financial and other resources of federal agencies, including the FAA, Environmental Protection Agency and others responsible for oversight of the billionaire’s companies.
SpaceX has received more than $19 billion from the federal government since 2008 and is poised to take in several billion dollars annually for years to come, according to research by FedScout.
SpaceX and two of its partners are frontrunners to win a big chunk of President Donald Trump’s “Golden Dome” missile defense shield, Reuters previously reported.
A Waymo rider-only robotaxi is seen during a test ride in San Francisco, California, U.S., December 9, 2022.
Paresh Dave | Reuters
Alphabet’s Waymo unit plans on bringing its robotaxi service to Dallas next year, adding to a growing list of prospective U.S. markets for 2026, including Miami and Washington, D.C.
Rental car company Avis Budget Group will be managing the Waymo fleet in Dallas, via a new partnership the companies announced Monday.
Avis CEO Brian Choi said in a statement that the agreement marks a “milestone” for the company, which is now also working to become “a leading provider of fleet management, infrastructure and operations to the broader mobility ecosystem.”
Waymo robotaxi testing is already underway in downtown Dallas involving the company’s Jaguar I-PACE electric vehicles with the Waymo Driver system. That combines automated driving software, sensors and other hardware that power the vehicles’ “level 4,” driverless operations.
Passengers will be able to hail a driverless ride using the Waymo app in Dallas. In some other markets, Waymo only makes its services available through ride-hailing platform Uber.
Waymo has surged ahead in the robotaxi market while other autonomous vehicle developers, including Tesla, Amazon-owned Zoox, and venture-backed startups such as Nuro, May Mobility and Wayve, are working to make autonomous transportation a commercial reality in the U.S.
Waymo says it conducts more than 250,000 paid weekly trips in the markets where it operates commercially, including Atlanta, Austin, Los Angeles, Phoenix and San Francisco.
Waymo’s steepest competition internationally comes from Baidu’s robotaxi venture Apollo Go in China, which is eyeing expansion in Europe.
On Alphabet’s second-quarter earnings call, execs boasted that, “The Waymo Driver has now autonomously driven over 100 million miles on public roads, and the team is testing across more than 10 cities this year, including New York and Philadelphia.”
The business has become significant enough that Alphabet even added a category to its Other Bets revenue description in its latest quarterly filing.
“Revenues from Other Bets are generated primarily from the sale of autonomous transportation services, healthcare-related services and internet services,” the filing said.
The Other Bets segment remains relatively small, however, with revenue coming in at $373 million in the quarter, up from $365 million a year ago. The division still reported a loss of $1.25 billion, widening from $1.13 billion in the second quarter of 2024.
Ray-Ban Meta smart glasses on display in the window of a Ray Ban store in London, UK, on Friday, July 19, 2024.
Bloomberg | Bloomberg | Getty Images
Revenue from sales of Ray-Ban Meta smart glasses more than tripled year over year, EssilorLuxottica revealed Monday as part of the company’s most recent earnings report.
EssilorLuxottica said the success of the Ray-Ban Meta glasses, built via a partnership with the Facebook parent stemming back to 2019, contributed to its first-half overall sales of 14.02 billion euro (US$16.25 billion), which represents a 7.3% year-over-year jump.
“We are leading the transformation of glasses as the next computing platform, one where AI, sensory tech and a data-rich healthcare infrastructure will converge to empower humans and unlock our full potential,” EssilorLuxottica CEO Francesco Milleri and deputy CEO Paul du Saillant said in a joint-statement. “The success of Ray-Ban Meta, the launch of Oakley Meta Performance AI glasses and the positive response to Nuance Audio are major milestones for us in this new frontier.”
In the earnings report, the company said that its new Oakley Meta smart glasses, unveiled in June, represents the latest product line to come from its partnership with the social media company. CNBC reported in June that Meta and Luxottica plan to debut a Prada-branded version of its smart glasses in the future.
Luxottica owns several well-known brands including Ray-Ban, Oakley, Vogue Eyewear and Persol.
In September, Meta renewed a long-term partnership agreement with Luxottica to “collaborate into the next decade to develop multi-generational smart eyewear products,” according to the announcement.
The logos of Bitcoin, Ethereum, and Tether outside a cryptocurrency exchange in Istanbul, Turkey, on Wednesday, Nov. 6, 2024.
David Lombeida | Bloomberg | Getty Images
The crypto market’s bullishness may be tipping into speculative frenzy, if the latest MicroStrategy-style copycat is any indication.
On Monday, a little-known Canadian vape company saw its stock surge on plans to enter the crypto treasury game – but this time with Binance Coin (BNB), the fourth largest cryptocurrency by market cap, excluding the dollar-pegged stablecoin Tether (USDT), according to CoinGecko.
Shares of CEA Industries, which trades on the Nasdaq under the ticker VAPE, rocketed more than 800% at one point after the company announced its plans. CEA, along with investment firm 10X Capital and YZi Labs, said it would offer a $500 million private placement to raise proceeds to buy Binance Coin for its corporate treasury. Shares ended the session up nearly 550%, giving the company a market cap of about $48 million.
Given the more crypto-friendly regulatory environment this year, more public companies have adopted the MicroStrategy playbook of using debt financing and equity sales to buy bitcoin to hold on their balance sheet to try to increase shareholder returns, pushing bitcoin to new records.
Now, with the S&P 500 trading at new records, the resurgence of meme mania and a pro-crypto White House supporting the crypto industry, investors are looking further out on the risk spectrum of crypto hoping for bigger gains.
In recent months, investors have rotated out of bitcoin and into ether, which led to a burst of companies seeking a similar treasury strategy around ether. SharpLink Gaming, whose board is chaired by Ethereum co-founder Joe Lubin, was one of the first to make the move. Other companies like DeFi Development Corp, renamed from Janover, are making similar moves around Solana.
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