SpaceX launches Starship V3 for the first time, but loses booster on return

At a glance:

• SpaceX flew the 407-foot Starship V3 for the first time from Starbase, Texas, but the Super Heavy booster failed to reignite and tumbled into the Gulf of Mexico, likely exploding.
• Starship lost one of its six Raptor engines during ascent but still deployed all 20 Starlink satellite simulators and two modified Starlink satellites before simulating a landing in the Indian Ocean.
• The launch coincides with SpaceX's IPO filing going public, with a Nasdaq listing expected mid-June and a reported $75 billion raise to fund AI ambitions and pay down debt from xAI and X.

The launch and what went wrong

SpaceX fired its most powerful rocket ever from its company town of Starbase, Texas, at 5:30 p.m. local time on what was meant to be the first real shakedown of the upgraded Starship V3 hardware. The 407-foot vehicle — taller than the Statue of Liberty — lifted off cleanly, and within minutes the upper-stage Starship separated from the Super Heavy booster. The booster pitched away and headed back toward Earth, where it was supposed to perform a simulated landing in the Gulf of Mexico. But the booster's engines did not properly re-ignite for the sustained burn needed to bring it back. Instead, the vehicle tumbled into the water and likely exploded on impact. On the Starship side, one of the six Raptor engines was lost during ascent, yet the vehicle continued to carry out its payload mission. All 20 Starlink satellite simulators and two modified Starlink satellites — designed to record exterior footage of the craft — were successfully deployed. Roughly one hour after liftoff, Starship simulated a landing in the Indian Ocean, tipped over, and exploded as expected in the planned splashdown test.

Why this launch matters

Despite the imperfect outcome, engineers at SpaceX treated the flight as a significant milestone. It was the first real test of the third-generation Starship hardware, which has been in development for months, and the first time the company used an all-new launchpad at Starbase that it has been building for years. The vehicle also featured third-generation Raptor engines with more thrust and a far simpler design, and the new booster was built for faster takeoffs and easier catches by the launch tower arm. SpaceX had planned to fly Starship V3 earlier, but one of the first upgraded boosters suffered an explosion during testing in November. The company tried again on Thursday but had to delay when a hydraulic pin on the launch tower arm refused to retract, according to Elon Musk. The successful — if messy — flight after that delay demonstrated that the V3 platform can reach orbit and deploy its payload, even if the booster recovery still needs work.

The IPO backdrop

The launch also lands at a historical inflection point for SpaceX as a company. Its IPO filing was made public this week, and the company is expected to list on the Nasdaq in mid-June. The offering is reportedly targeting about $75 billion in proceeds, which SpaceX plans to deploy toward further rocket development, massive AI ambitions, and paying down some of the debt associated with xAI and Musk's social media company X. That means this could be the last Starship test launch to happen without a stock market reaction — a milestone that adds weight to every data point engineers collect.

Starship's role in SpaceX's business

SpaceX has spent years and billions of dollars developing Starship, which it sees as central to its mission of making life multi-planetary. The rocket is slated for NASA missions to the moon and, eventually, Mars. But the near-term commercial work that keeps the lights on is delivering more advanced Starlink satellites to Earth orbit. Starlink is currently the only profitable part of SpaceX's business, and the company needs Starship's heavy-lift capacity to scale that constellation with larger, more capable satellites.

What to watch next

SpaceX will need to solve booster recovery — the core reusability challenge that makes Starship economically viable at scale. The Super Heavy booster's failure to reignite is a known risk area, and the company will almost certainly iterate quickly ahead of the next test flight. Meanwhile, the IPO timeline means investors and analysts will be scrutinizing every launch outcome more closely than ever. The next few months of Starship tests could set the tone for SpaceX's public-market debut.

Key context on the flight timeline

• This was the first Starship flight since October 2025.
• An upgraded booster suffered an explosion during testing in November, delaying the V3 launch window.
• The first attempt on Thursday was scrubbed because a hydraulic pin on the launch tower arm refused to retract.
• The V3 features third-generation Raptor engines with more thrust and a simpler design.
• The new booster is designed for faster takeoffs and easier catches by the launch tower.

Looking ahead

SpaceX's Starship program remains the most ambitious rocket development effort in the world, and each test flight — even one that ends with a booster in the Gulf of Mexico — provides critical data. With the IPO on the horizon and NASA contracts waiting, the company's ability to iterate quickly on booster recovery and engine reliability will determine whether Starship becomes the workhorse Musk envisions or remains an expensive proving ground.

Tags

• spacex
• starship
• starship-v3
• ipo
• starlink
• raptor-engine