SpaceX tested its Starship rocket for the second time, resulting in an explosion of the lower stage

The upper stage of the rocket continued its mission before being lost.
The test was seen as a step of progress by NASA Administrator Bill Nelson.

SpaceX has a successful track record with its Falcon launch system, having launched it about 280 times.
SpaceX is valued at $150 billion and is considered one of the world’s most valuable aerospace and defense companies.

Elon Musk has hinted at a potential IPO for SpaceX’s Wi-Fi business, Starlink, which recently became profitable.

Starship is important for Starlink’s profitability as it can carry more satellites into orbit, enhancing Wi-Fi coverage.

SpaceX is a dominant force in the global orbital space launch industry, accounting for over half of launches in 2023.