Amazon Is Spending $11.6 Billion to Compete With SpaceX

SpaceX is set to be the biggest IPO in history, but it's not the only company building out the space economy. While most of SpaceX's competitors are relatively small, it could face its biggest rival in deep-pocketed Amazon (NASDAQ: AMZN).Amazon launched its first low Earth orbit satellites into space last year for Amazon Leo, formerly Project Kuiper. The company planned to invest $10 billion in building its constellation in 2020, but it's about to more than double its budget for the project. Amazon agreed to acquire Globalstar (NASDAQ: GSAT) for approximately $11.6 billion. The move could accelerate Amazon Leo and spur Amazon to become a more meaningful competitor to SpaceX's Starlink.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool