Shares of Elon Musk’s SpaceX took another beating when trading resumed on Monday, sliding to an all-time low of just under $139, well below its IPO opening price of $150.

It’s now over 38 percent down from its all-time high of $225 three weeks ago, illustrating how rapidly the hype has inverted into widespread skepticism over Musk’s vision.

Following a blockbuster Wall Street debut, the space company has struggled to maintain any degree of momentum as investors continue to ask some very hard questions, including over its major pivot to orbital data centers and its near-term profitability. Despite being valued at almost two trillion dollars, the company lost nearly $5 billion last year.

Shares have hovered below the company’s opening price for weeks now, despite plenty of bullishness among analysts.

The news comes just days after Chinese state-run media showed a Long March 10B rocket booster being caught by an offshore recovery platform, indicating the country was making major strides in catching up with SpaceX’s reusable rocket tech. Over the weekend, an experimental Japanese reusable rocket safely took off and landed, suggesting the nation may be right behind China as well.

Beyond some steepening international space launch competition, experts believe SpaceX’s transformation into an “AI play” may be closely related to its Wall Street woes, as the BBC reports.

“Everyone saw SpaceX as an AI story,” CFRA investment research analyst Keith Snyder told the broadcaster.

“With Elon Musk, any company he touches gets people excited,” he added. “But this was also the first time people felt like they were able to invest in something that was being marketed as an AI play.”

How SpaceX will cover its enormous losses and start actually making some money — not to mention, prove that orbital data centers don’t just make sense but are even feasible to begin with — remains a major point of contention.

In short, the initial enthusiasm surrounding SpaceX’s IPO is firmly behind us.

“If you bought around the first tick you’re definitely underwater,” Snyder told the BBC. “It started to look a lot like a meme stock.”

“If you’re an IPO investor, you’re ok,” Mergermarket analyst Samuel Kerr added. “If you bought in the first few days, you’re not very happy right now.”

Investors remain sharply divided on where SpaceX shares are headed next. Many analysts from major investment banks remain bullish, expecting the stock to make massive gains. Case in point, Morgan Stanley believes the company will reach a price tag of $300 — far more than double its current stock price.

Snyder has a far more muted outlook, expecting SpaceX to fall down to just $115 a share.

Meanwhile, Musk has said he thinks “SpaceX will be worth more than the rest of Earth if we accomplish our goals,” a characteristically ambitious and perhaps delusional argument that assumes a lot of things will go right for the company.

Whether investors will buy into this lofty vision remains to be seen. Given its recent stock performance, it’s far from a guarantee.

“If SpaceX can do all the things it says it will do, yes, investors are sitting on the most valuable company ever,” Kerr told the BBC. “But it’s got a lot of work to do to get there.”

More on SpaceX: Elon Musk Says His Goal Is for SpaceX to Be Worth More than the Entire Earth

The post SpaceX Stock Plunges to All-Time Low After Competitor Makes Major Leap appeared first on Futurism.

The mystery of life's origin on Earth remains unsolved. With modern biochemistry tools scientists are no closer to synthesizing life from non-living chemicals despite advanced knowledge and technology, let alone understanding how it could have arisen abiogenetically. The rejection of the Creator has led to foolishness in the wise.

SpaceX has radically reduced the cost of reaching space thanks to its reusable rockets, a revolutionary capability that has greatly set it apart from its competitors.

But its dominance in the domain is seriously being challenged by China. Footage shared by the Chinese state-run CCTV shows a Long March 10B rocket booster being caught by an offshore recovery platform. Engineers can be heard cheering on the slowly descending rocket as it confidently sets down.

As Engadget reports, that makes China only the second country to have pulled off such a feat, following the United States — a “historic breakthrough” that could have major implications not just for SpaceX, but for the space industry as a whole.

The rocket was developed by the China Academy of Launch Vehicle Technology (CALT), a subsidiary of the state-owned Chinese space program contractor China Aerospace Science and Technology Corporation (CASC).

The rocket has a payload capacity of 16 tons to low-Earth orbit, not far off from SpaceX’s workhorse Falcon 9, which can carry 22 tons. However, unlike the Falcon 9, which lands autonomously with the help of four deployable landing legs, CALT’s recovery platform picks the descending rocket out of the air with “landing hooks.”

Previous attempts have resulted in descending rockets missing the launch pad. Chinese competitor LandSpace is trying an even more SpaceX-like approach using a leg system. In December, the company successfully sent its Zhuque-3 rocket into orbit, but it ended up blowing up in a fireball while trying to land.

CALT is envisioning it as a new platform to launch Starlink-like internet broadband satellites and other larger commercial satellites.

By reusing the first stage, the company is hoping to dramatically reduce launch costs, much like SpaceX.

The Elon Musk-led company first successfully landed a Falcon 9 rocket following orbital flight in December 2015. Jeff Bezos’ Blue Origin became the second company to have pulled off such a feat in November, with its New Glenn booster gently touching back down in November, just under a decade later.

While CALT’s latest feat is undoubtedly a major sign of progress, China has its work cut out to reach SpaceX’s unparalleled launch cadence. The rocket company came close to launching a rocket every other day in 2025, completing an astonishing 165 orbital flights — almost twice as many as China’s entire space program.

More on China’s space program: New Report Finds That China’s Space Program Is Rapidly Outstripping NASA

The post China Is Catching Up With SpaceX Fast, Landing First Reusable Rocket Booster on Offshore Platform appeared first on Futurism.

Satellites perform a delicate dance to maintain their orbit, by locking themselves to a speed just fast enough to counteract the downward pull of gravity.

To stop their orbit from decaying too much, satellites use small in-space thrusters, which broadly speaking, fall into two categories: chemical or electric. The former uses a combustible fuel source that gets accelerated through a nozzle, while the latter uses electrical energy to convert propellant into kinetic energy.

Now, New Zealand space startup Zenno Astronautics says it’s tested an entirely new type of thruster that, unlike either of those conventional technologies, uses superconducting magnets to maintain a satellite’s orbit and orientation. As Space.com reports, the magnets convert solar energy directly into momentum, effectively harnessing the Earth’s magnetic field itself.

“Energy is the one thing that is abundant in space, and you can use it to energize the magnet to create a magnetic acceleration device,” Zenno Astronautics CEO and founder Max Arshavsky told the site. “It gives you acceleration without fuel.”

The company’s “Supertorquer” system, attached to a Mira satellite developed by Impulse Space, was launched into space as part of a SpaceX rideshare mission in November.

“It’s a technology that allows a spacecraft to not tumble violently in space and point in the right direction,” Arshavsky told Space.com.

When the spacecraft needs to move, superconducting coils draw energy from a solar powered battery.

“The unit has multiple superconducting magnets that are positioned in different axes,” Arshavsky added. “When we power up the magnets, they generate a magnetic field, which interacts with Earth’s magnetic field, and because we can control the magnetic field on the satellite, we can control the way in which it turns with respect to Earth.”

During its test last fall, the Supertorquer successfully altered the Mira satellite’s orientation on command, just as designed.

For superconducting magnets to work, they have to be cooled to extremely low temperatures. On Earth, that requires cryogenic liquids, which are ill-suited for a satellite. Even in space, the satellite is warmed up to around 68 degrees Fahrenheit by the Sun’s rays, which meant that Zenno had to get creative.

Using a heat pump, the extensively insulated magnet system expels heat to allow the coils to power up at temperatures as low as 77 kelvin, or -321 degrees Fahrenheit. Zenno claims its cooling system is highly efficient, drawing only up to 48 watts at peak.

The startup has some ambitious plans and is hoping to scale up the system to enable future spacecraft to perform docking maneuvers or even help propel them to the Moon or Mars by exclusively relying on solar power. How feasible those lofty plans will turn out to be remains to be seen, but the startup is optimistic.

Arshavsky even suggested that superconducting magnets could create “umbrellas of magnetic fields” that could “shield people in space” from harmful levels of radiation.

More on satellite thrusters: NASA Fires Up Futuristic Plasma Thruster Designed to Take Us to Mars

The post Scientists Test New Spacecraft Thruster That Uses No Fuel, Just Earth’s Magnetic Field, in Orbit appeared first on Futurism.

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For many centuries, the ancient Lighthouse of Alexandria, also known as the Pharos, stood among the tallest constructions on Earth, garnering recognition as one of the famous Seven Wonders of the Ancient World.

That all changed beginning in AD 956, and again in 1303, when a series of earthquakes damaged the legendary Pharos, plunging the massive stone used in its construction into the depths of the Mediterranean Sea.

Now, after more than seven centuries, the third-longest-surviving of the seven ancient wonders is rising again, offering archaeologists clues to the appearance and construction of this historic marvel.

Archaeologists with the PHAROS Project report the recovery of 22 massive blocks from the ancient lighthouse, which have remained at the bottom of the Mediterranean Sea off Egypt’s coast since the monument’s destruction 723 years ago. The international research initiative aims to use its studies of the recovered materials to digitally rebuild the structure, revealing its appearance to the modern world for the first time in centuries.

Rediscovery of One of the Ancient World’s Seven Wonders

Originally constructed in the third century BC, the ancient structure stood more than 330 feet tall before the trio of earthquakes that ultimately destroyed it. Before its destruction, the lighthouse guided ships sailing the Mediterranean for more than 1,600 years. At the modern site where the Pharos once stood, the Citadel of Quitbay, which was originally constructed beginning in 1477, features some of the original blocks from the lighthouse.

The remains of the lighthouse have been known to archaeologists for more than a century. First described in 1916 by Gaston Jondet and Raymond Weill, and again in 1940 by Sir Leopold Saville, the lighthouse was officially rediscovered as part of a UNESCO-sponsored expedition in 1968, where archaeologist Honor Frost confirmed the ruins had indeed belonged to the Pharos.

However, political tensions at that time prevented further exploration, and the site remained unexplored for several decades. Then in 1994, imagery was obtained by archaeologist Jean-Yves Empereur and cinemaphotographer Asma el-Bakri, which finally offered the world a first look at the massive ancient structure’s remains.

Today, the PHAROS Project, led by Isabelle Hairy, an archaeologist with Egypt’s Ministry of Tourism and Antiquities, and working in cooperation with the Dassault Systèmes Foundation, has successfully retrieved 22 of the massive stone blocks that once composed the entrance to the lighthouse.

Additional recoveries include portions of doorways, lintels, paving slabs, and other portions of the ancient construction. Retrieving these sunken monoliths has been no small task, as some of the paving slabs alone weigh as much as 88 tons.

Rebuilding the Ancient Pharos

Although the recovery of the ancient slabs of stone that once comprised the famous monument is a promising archaeological endeavor, the PHAROS Project’s primary aim is to use knowledge gained from their study to digitally reconstruct the lighthouse.

To achieve this, Hairy and the team plan to scan each of the huge stone blocks using modern cutting-edge photogrammetry, which will be used to create 3D models of the structure’s components. Then these will be studied and assembled digitally, providing one of the clearest views of one of the ancient world’s most imposing structures.

The research builds on close to a decade of previous work that includes the digitization of more than 100 of the lighthouse’s features that remain underwater. Altogether, the digital reassembly of the Pharos will complement existing imagery from the ancient world that depicts the lighthouse, which includes its appearance in ancient artwork, currency from the time when the Pharos was still in use, and mosaics.

Additionally, historical accounts that preserve written descriptions, like those of Abou Haggag Youssef Ibn Mohammed el-Balawi el-Andaloussi, an Arab traveler who visited Alexandria in 1166 and produced one of the most complete descriptions of the structure, will be used as part of the reconstruction effort.

Together, these combined sources of information will allow Hairy and the PHAROS Project team to reconstruct the most complete and accurate depiction of this ancient wonder, long believed to be lost to history with all the other Wonders of the Ancient World, save only for the Great Pyramid at Giza.

With its digital reconstruction, soon another of these enigmatic Seven Wonders will be available for observation and study, bringing to life another long-lost marvel of antiquity for modern eyes.

Additional details about the PHAROS Project can be found on its official website.

Micah Hanks is the Editor-in-Chief and Co-Founder of The Debrief. A longtime reporter on science, defense, and technology with a focus on space and astronomy, he can be reached at micah@thedebrief.org. Follow him on X @MicahHanks, and at micahhanks.com.

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