logo
SpaceX rocket being tested in Texas explodes, but no injuries reported

SpaceX rocket being tested in Texas explodes, but no injuries reported

A SpaceX rocket being tested in Texas exploded Wednesday night, sending a dramatic fireball high into the sky.
The company said the Starship 'experienced a major anomaly' at about 11 p.m. while on the test stand preparing for the tenth flight test at Starbase, SpaceX's launch site at the southern tip of Texas.
'A safety clear area around the site was maintained throughout the operation and all personnel are safe and accounted for,' SpaceX said in a statement on the social platform X.
CEO Elon Musk 's SpaceX said there were no hazards to nearby communities. It asked people not to try to approach the site. The company said it is working with local officials to respond to the explosion.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

'If You Join War...': Putin's EXPLOSIVE IRAN WARNING To Trump If He Bombards Nuke Sites
'If You Join War...': Putin's EXPLOSIVE IRAN WARNING To Trump If He Bombards Nuke Sites

Time of India

time26 minutes ago

  • Time of India

'If You Join War...': Putin's EXPLOSIVE IRAN WARNING To Trump If He Bombards Nuke Sites

SpaceX Starship Bursts Into Flames; Disastrous Test Caught On Cam | Watch Viral Video Elon Musk's SpaceX faced a major setback as its Starship 36 rocket exploded during a routine static fire test at Starbase, Texas. The powerful explosion, captured in viral videos, sent massive flames and smoke into the sky. This test was part of preparations for the highly anticipated Starship Flight 10, which was scheduled for later this month. Despite the explosion, SpaceX is known for learning from such failures and improving their designs. The incident has led to the likely delay of the planned launch, as the company now faces the task of recovering and refining its spacecraft for future missions.#spacex #explosion #elonmusk #starbase #texas #starshipflight10 19.6K views | 5 hours ago

SpaceX CEO Elon Musk's FIRST reaction after Starship prototype explodes during ground test: ‘Room for improvement'
SpaceX CEO Elon Musk's FIRST reaction after Starship prototype explodes during ground test: ‘Room for improvement'

Mint

time27 minutes ago

  • Mint

SpaceX CEO Elon Musk's FIRST reaction after Starship prototype explodes during ground test: ‘Room for improvement'

SpaceX CEO Elon Musk has acknowledged the latest setback in the company's Mars ambitions after a Starship prototype exploded during a ground test in southern Texas. Musk took to his social media platform X, sharing a post from the space-focused accountSpace Sudoer. The post showed images of the incident with the caption 'Just a scratch.' Musk added his own understated remark: 'Room for improvement.' The prototype vehicle, designated Starship 36, was undergoing a static fire test at SpaceX's Starbase facility on Wednesday night when it experienced what authorities described as a 'catastrophic failure'. The test, which involves firing the rocket's engines while it remains anchored to the launch pad, resulted in an explosion shortly after 11:00 pm local time (04:00 GMT Thursday). Dramatic footage shared online captured the moment of the blast, showing a sudden flash followed by a massive fireball engulfing the rocket and launch tower. In a statement issued after the event, SpaceX confirmed the failure, stating that Starship 36 encountered 'a major anomaly while on a test stand at Starbase.' While the exact cause remains unknown, the company emphasised that all necessary safety measures had been followed. 'A safety clear area around the site was maintained throughout the operation, and all personnel are safe and accounted for,' it said. Cameron County officials echoed the assurance, adding that there was no immediate threat to nearby communities. Authorities also advised residents to stay away from the area while 'safing' procedures continued. The explosion is the latest in a series of high-profile incidents to affect the Starship programme, which forms the backbone of Musk's vision to transform humanity into a multiplanetary species. The Starship rocket, which stands at 123 metres and is designed to be fully reusable, aims to carry up to 150 metric tonnes of cargo and crew into orbit and beyond. Despite repeated setbacks, SpaceX remains committed to the programme, describing such incidents as critical learning moments in the development of the world's most powerful launch system. No timeline has yet been announced for the next test, but SpaceX is expected to analyse the data thoroughly before proceeding with future launches.

Musk's xAI burns through $1 billion a month as costs pile up
Musk's xAI burns through $1 billion a month as costs pile up

Time of India

time33 minutes ago

  • Time of India

Musk's xAI burns through $1 billion a month as costs pile up

Elon Musk 's artificial intelligence startup xAI is burning through $1 billion a month as the cost of building its advanced AI models races ahead of the limited revenues, according to people briefed on the company's financials. The rate at which the company is bleeding cash provides a stark illustration of the unprecedented financial demands of the artificial intelligence industry, particularly at xAI, where revenues have been slow to materialize. To cover the gap, Musk's startup is currently trying to raise $9.3 billion in debt and equity, according to people briefed on the deal terms, who asked not to be identified because the information is private. But even before the money is in the bank, the company has plans to spend more than half of it in just the next three months, the people said. Over the course of 2025, xAI, which is responsible for the AI-powered chatbot Grok, expects to burn through about $13 billion, as reflected in the company's levered cash flow, according to details shared with investors. As a result, its prolific fundraising efforts are just barely keeping pace with expenses, the people added. A spokesperson for the company declined to comment. However, Musk said 'Bloomberg is talking nonsense' in a response to a post on his social media platform X that referenced Bloomberg's article. The losses are due, in part, to the huge costs that all AI companies face as they build the server farms and buy the specialized computer chips that are needed to train advanced AI models like Grok and ChatGPT. Carlyle Group Inc. estimates that over $1.8 trillion of capital will be deployed by 2030 to meet that demand to build out AI infrastructure , Chief Executive Officer Harvey Schwartz wrote in a shareholder letter. 'Model builders will look to raise debt and they're going to burn lots and lots of cash,' said Jordan Chalfin, senior analyst and head of technology at CreditSights. 'The space is very competitive and they are battling for technical supremacy.' But Musk's entrant in the AI race has struggled to develop revenue streams at the same rate as some of its direct competitors, like OpenAI and Anthropic. While almost none of these companies offer public figures on their finances, Bloomberg has previously reported that OpenAI, the creator of ChatGPT, is expecting to bring in revenues of $12.7 billion this year. At xAI, revenues are expected to be just $500 million this year, rising to north of $2 billion next year, investors were recently told. Listen and subscribe to Elon, Inc. on Apple, Spotify, iHeart and the Bloomberg Terminal. What xAI has on its side is a CEO, Musk, who is the richest man in the world, and one who has shown a willingness to spend his fortune on huge, futuristic projects long before they start generating money. Back in 2017, Musk's biggest company, Tesla Inc. was burning through $1 billion a quarter to pay for the production of its Model 3 car, Bloomberg reported at the time. SpaceX, meanwhile, sustained years of steady losses as it pushed toward its long-term goal of interplanetary exploration. Even against this backdrop, though, the huge losses at xAI stand out. Musk's team at xAI, which is racing to develop AI that can compete with humans, believes that they have advantages that will eventually allow them to catch up with peers. While some competitors rent chips and server space, xAI is paying for much of the infrastructure itself and getting direct access through X, which previously bought a significant stockpile of the most coveted and high powered computer chips. Musk has said that he expects xAI will continue buying more chips. X Factor After recently merging with X, Musk's AI executives are also hopeful that they will be able to train the company's models on the social media network's copious and constantly-refreshed archives, rather than paying for data sets like other AI companies. These potential advantages have led xAI to optimistically project that it will be profitable by 2027, people familiar with the matter said. OpenAI expects to be cashflow positive by 2029, Bloomberg previously reported. These projections, along with Musk's celebrity status and political power, have been enough to win over many investors, especially before the recent breakdown in the relationship between Musk and President Donald Trump. Potential xAI investors were told that the company's valuation grew to $80 billion at the end of the first quarter, up from $51 billion at the end of 2024. Investors have included Andreessen Horowitz, Sequoia Capital and VY Capital. For now, though, xAI is racing to raise enough money to keep up with its prodigious expenditures. Between its founding in 2023 and June of this year, xAI raised $14 billion of equity, people briefed on the financials said. Of that, just $4 billion was left at the beginning of the first quarter, and the company expected to spend almost all of that remaining money in the second quarter, the people said. The company is now finalizing $4.3 billion in new equity funding, and it already has plans to raise another $6.4 billion of capital next year, the company has told investors. And that is on top of the $5 billion in debt that Bloomberg has previously reported Morgan Stanley is helping it raise. The corporate debt is expected to help pay for xAI's data center development, the people said. Other companies have decided to do project financing instead. The company is also expecting to get a bit of help from a $650 million rebate from one of its manufacturers, it told investors this week. There were early signs that investors were hesitant to loan the company money at the proposed terms, Bloomberg has reported. The company gave select investors more detailed financial information on Monday in response to questions it had faced during the fundraising process, people familiar with the negotiations said. But the deal has attracted more interest since the company changed some of the deal terms — to be more investor friendly — and finalized the equity fundraising. A spokesperson for Morgan Stanley, the bank in charge of xAI's debt sale, declined to comment.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store