A United Launch Alliance Atlas V rocket is on the launch pad carrying Amazon’s Project Kuiper internet network satellites, which are expected to eventually rival Elon Musk’s Starlink system, at the Cape Canaveral Space Force Station in Cape Canaveral, Florida, on April 9, 2025.
Steve Nesius | Reuters
Amazon said Tuesday it would acquire Globalstar for $90 a share, giving its nascent satellite internet business a boost as it vies to compete with Elon Musk‘s SpaceX.
Shares of Globalstar surged more than 9% in premarket trading. Amazon’s stock rose about 1%.
Amazon has been ramping up its low Earth orbit satellite service, called Leo, deploying more than 240 satellites since last April.
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