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Elon Musk's Starlink Has a New Competitor. How Investors Can Take Advantage

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Elon Musk's Starlink Has a New Competitor. How Investors Can Take Advantage: https://g.foolcdn.com/editorial/images/750771/getty-images-network-data-connection-satellite.jpeg

Amazon (NASDAQ: AMZN) finally got one of its long-awaited new businesses off the ground. Literally.

The e-commerce and cloud computing giant launched two satellites into orbit earlier this month to test its satellite-internet service Project Kuiper. The service, announced in 2019, will compete with SpaceX's Starlink, which has a massive head start.

But Amazon's committed to catching up. It plans to spend more than $10 billion on launching satellites. It's signed deals with three space companies, including Jeff Bezos' Blue Origin, to facilitate its plan to put 3,236 satellites in orbit.

Source Fool.com

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