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BREAKING: Amazon (AMZN) Acquires Globalstar (GSAT) in Bold Move to Challenge SpaceX’s Starlink Dominance
BREAKING: Amazon (AMZN) Acquires Globalstar (GSAT) in Bold Move to Challenge SpaceX’s Starlink Dominance
Amazon has struck a deal to acquire satellite firm Globalstar, sending both stocks rallying as the tech giant makes a direct play for SpaceX's Starlink business. The acquisition is a core part of Amazon's strategy to turbocharge its Project Kuiper initiative, with plans to deploy 3,200 satellites within three years and launch a competing satellite internet service, despite the formidable challenge of matching Starlink's existing network of over 10,000 units.