Amazon Fires up Challenge With Tesla CEO’s SpaceX

By Benzinga
Benzinga
Benzinga
November 6, 2021 Updated: November 6, 2021

Amazon.com Inc.’s (AMZN) Kuiper Systems LLC sought permission from U.S. regulators to launch another 4,538 satellites, Bloomberg reports.

The additions would bring Kuiper’s constellation to 7,774 satellites.

Amazon aims to bolster its constellation as it competes with Tesla Inc. CEO Elon Musk’s SpaceX for broadband-from-space customers.

Kuiper and Musk’s Space Exploration Technologies Corp. each applied for satellite fleets in low-earth orbit.

Amazon contested that SpaceX has not met regulatory requirements. SpaceX dismissed the criticism.

Amazon aims to deliver broadband internet to areas around the world that lack high-speed service, Reuters reports.

Amazon sought approval to launch and operate two prototype satellites by the end of 2022.

Price Action

AMZN shares closed higher by 1.21 percent at $3,518.99 on Friday.

By Anusuya Lahiri

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