Amazon launches 3,000 satellites to challenge SpaceX in low-earth orbit

Amazon Inc. is set to launch over 3,000 low-Earth-orbit satellites aimed at providing internet connectivity to underserved regions. This initiative is part of Amazon's Project Kuiper and is expected to commence with its first rocket mission by the end of the year. The company is currently seeking approval from the U.K.'s telecom regulator, Ofcom, to operate its service in the region. The move positions Amazon's executive chairman, Jeff Bezos, in direct competition with Elon Musk's SpaceX, which has already established a 6,000-satellite constellation under its Starlink service. SpaceX has a significant head start, boasting 42,000 customers in the U.K. and a valuation of approximately $200 billion. Despite this, industry experts believe Amazon's substantial cash reserves, projected to reach $100 billion this year, could enable it to effectively challenge Starlink. Amazon's strategy appears to prioritize expanding its global broadband network and increasing its Prime customer base rather than immediate profitability. The rivalry between Bezos and Musk is intensifying, particularly in the U.K. broadband and mobile market, where satellite technology is seen as a viable alternative to traditional fiber installation, especially in remote areas. This development is part of a broader space race between the two billionaires, with Amazon recently securing eight licenses and acquiring land in New Zealand for its satellite initiative. As both companies vie for dominance in the satellite internet market, the competition is expected to significantly impact the landscape of broadband services in the U.K.