Jeff Bezos’ Rocket Launch Plans

Amazon’s Project Kuiper

Amazon (AMZN) has announced plans to spend billions with the goal of building up a network of internet satellites. The company has signed contracts with three companies that will provide the space launches.

The goal of its so-called Project Kuiper is to establish 3,226 satellites in low Earth orbit. This would provide high-speed internet service globally, in direct competition with broadband. The plan secured FCC approval in 2020.

Contracts with Three Launch Companies

Amazon is partnering with United Launch Alliance, Arianespace, and Jeff Bezos’ Blue Origin to complete 38 launches. The program will include a test launch later this year with prototype satellites. Although the tech giant has yet to announce a start date for the Kuiper program, at least half the satellites must go up within six years to comply with FCC rules. Both ULA and Arianespace plan to launch rockets later this year.

The price per launch runs in the tens of millions. Some analysts estimate the value of Amazon’s Kuiper contracts to be in the billions of dollars.

Sparring Between Bezos and Musk

The plans to launch into the internet satellite business puts Amazon in direct competition with Elon Musk’s Starlink division of his SpaceX company. Mr. Musk got a head start in securing market share as it already has approximately 2,000 satellites in orbit. The company has also secured 250,000 subscribers to date.

Amazon argues it has a competitive edge due to existing technological, operational, and logistical expertise, as well as its established global presence. Once again, the competition heats up, with two of the world’s tech billionaires taking center stage.

Things are changing daily within the financial world. Sign up for the SoFi Daily Newsletter to get the latest news updates in your inbox every weekday.

Sign up

Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
Communication of SoFi Wealth LLC an SEC Registered Investment Adviser
SoFi isn’t recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.

All your finances.
All in one app.

SoFi QR code, Download now, scan this with your phone’s camera

All your finances.
All in one app.

App Store rating

SoFi iOS App, Download on the App Store SoFi Android App, Get it on Google Play

ABOUT Meg Richardson Meg Richardson is a writer specializing in markets, technology, and personal finance. She loves breaking down seemingly complex ideas and making them readable and interesting for everyone. She holds an MFA in writing from Columbia University. When she is not writing about finance, she enjoys running in Central Park and drawing cartoons.

TLS 1.2 Encrypted
Equal Housing Lender