There is a battle brewing among galactic giants. Amazon objected again to a plan by SpaceX to offer space-based internet service around the globe. Amazon has its own plans for a similar service.
E-commerce and web-services behemoth Amazon.com objected again to part of a plan by SpaceX to offer space-based internet service around the globe. Amazon has its own plans for a similar service. The battle pits two of the world’s richest men—Jeff Bezos and Elon Musk—against each other.
Amazon also wants to offer space-based internet service. It calls its project Kuiper, but it doesn’t yet have satellites in orbit. Amazon was referring to older battles that Musk has had with the Federal Aviation Administration, the Securities and Exchange Commission, and his other company Tesla‘s home state of California.
Amazon stock wasn’t doing much off the SpaceX spat. The commercial space industry is too small to move that trillion-dollar market cap just yet. Shares were down 0.8%, at $3,495.61, in afternoon trading. The S&P 500 was down 0.3% and the Dow Jones Industrial Average was down 0.4%.The battle might actually have some benefit for other space stocks.
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