News

Latest News

Stocks in Play

Dividend Stocks

ETFs

Breakout Stocks

Tech Insider

Forex Daily Briefing

US Markets

Stocks To Watch

The Week Ahead

SECTOR NEWS

Commodites

Commodity News

Metals & Mining News

Crude Oil News

Crypto News

M & A News

Newswires

OTC Company News

TSX Company News

Earnings Announcements

Dividend Announcements

Amazon To Launch 4,500 Internet Satellites

Technology giant Amazon (AMZN) has received regulatory approval to launch 4,500 internet satellites into low Earth orbit.

The U.S. Federal Communications Commission (FCC) has approved Amazon’s request to deploy the satellites, which provide wireless internet service here on Earth.

The launch of the new satellites helps to expand Amazon’s internet constellation and compete against Elon Musk’s SpaceX, which is the leader in the field.

Once the new launch is completed, Amazon’s space constellation will total about 7,700 low Earth orbit satellites.

Amazon has said that its goal is to begin providing satellite internet through its service called “Leo” later this year.

SpaceX’s Starlink has more than 9,000 satellites in orbit and roughly nine million internet customers worldwide.

Amazon’s newest set of satellites will operate at 400 miles above the Earth. The additional satellites will add support for more frequency bands and extend Leo’s geographic reach.

However, Amazon is scrambling to meet a deadline imposed by the FCC to deploy 1,600 of its first-generation satellites into space by July 2026.

Amazon has had difficulty launching all of its satellites, blaming delays on the weather and a shortage of rockets to lift the satellites into orbit.

The company has so far invested $10 billion U.S. into its internet-from-space venture.

AMZN stock has declined 11% in the last 12 months to trade at $206.90 U.S. per share.