Amazon aims to compete with Elon Musk

Article Excerpt

Amazon is now accelerating its Project Kuiper initiative. This aims to provide high-speed broadband service using a constellation of low Earth orbit satellites. This latest move will also strengthen its competitive position against Elon Musk’s SpaceX, which is currently building out its rival Starlink program. AMAZON.COM INC., $3,079.96, is a buy. The company (Nasdaq symbol AMZN; TSINetwork Rating: Average) (www.amazon.com; Shares o/s: 508.6 million; Market cap: $1.6 trillion; No divds.) has now entered agreements with commercial space companies Arianespace, Blue Origin and United Launch Alliance to aid the execution of Project Kuiper. The three firms will provide heavy-lift launch services to Project Kuiper. Amazon has secured up to 83 launches from the three companies, which will be used to deploy its satellites over a span of five years. Under Project Kuiper, Amazon plans to launch a network of 3,236 satellites into space to create an interconnected network. The 3,236 satellites will be made up of three layers—784 satellites at an altitude of 590 kilometres, 1,296 satellites…