AMZN<\/a> 1.00%) instead. Although Amazon is known for e-commerce and increasingly for artificial intelligence (AI), it’s in the middle of launching a broadband satellite business similar to SpaceX’s Starlink that opens up a massive new revenue stream.<\/p>\nIntroducing Amazon Leo<\/p>\n
Amazon has been working on a satellite business called Project Kuiper, which it has recently renamed Amazon Leo. It’s a satellite broadband company offering high-speed internet services across the globe, including rural areas not covered by standard services. It’s in the process of acquiring Globalstar, which will provide access to direct-to-consumer services on its network.<\/p>\n
![\"Satellite](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/05\/1778524389_273_.jpeg\"\/)
<\/p>\n
Image source: Getty Images.<\/p>\n
Amazon plans to launch Leo in the coming months and already has deals with Delta and JetBlue for in-flight Wi-Fi, as well as other companies, including AT&T and Vodafone. It will also provide satellite service for iPhones and Apple Watches.<\/p>\n
It recently completed its 10th satellite launch and now has more than 250 satellites in orbit. It’s planning 20 more launches within the next year and 30 more in 2027.<\/p>\n
![\"Amazon](\"https:\/\/www.newsbeep.com\/nz\/wp-content\/uploads\/2026\/05\/1778524389_135_.png\"\/)
<\/p>\n
Today’s Change<\/p>\n
(-1.00%) $-2.74<\/p>\n
Current Price<\/p>\n
$269.94<\/p>\n
Key Data Points<\/p>\n
Market Cap<\/p>\n
$2.9T<\/p>\n
Day’s Range<\/p>\n
$269.19 – $273.63<\/p>\n
52wk Range<\/p>\n
$196.00 – $278.56<\/p>\n
Volume<\/p>\n
1.1M<\/p>\n
Avg Vol<\/p>\n
50M<\/p>\n
Gross Margin<\/p>\n
50.60%<\/p>\n
CEO Andy Jassy sees a strong symbiosis between Leo and Amazon Web Services (AWS), which makes both more powerful, and he said Amazon is front-loading spending on the project because it expects it to be a huge business.<\/p>\n
It competes directly with SpaceX’s Starlink, which, according to reports, represents the bulk of SpaceX’s revenue today. It’s a much bigger business, with more than 7,800 satellites in orbit and 2.7 million customers worldwide. It’s also the dominant global rocket launcher, which a business Amazon isn’t investing in at this time.<\/p>\n
Why Amazon might be a better buy<\/p>\n
There are several concerns about investing in SpaceX at its IPO. There’s the overhype that often leads to a post-IPO drop, valuation concerns, and general uncertainty right now — especially because its financial statements are still private at this stage. Elon Musk and his responsibilities at Tesla add risk as well.<\/p>\n
Amazon, on the other hand, is a known entity, with several thriving and profitable businesses<\/a>. It’s nearing a $3 trillion valuation, with $742 billion in sales, while SpaceX is targeting a valuation of up to $2 trillion. If I had to choose one over the other, Amazon is the no-brainer winner, and I would revisit SpaceX at some point down the line.<\/p>\n","protected":false},"excerpt":{"rendered":"The upcoming SpaceX initial public offering (IPO) has caught the market’s attention, and the buzz is getting louder…\n","protected":false},"author":2,"featured_media":422650,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[111,139,69,147,392],"class_list":["post-422649","post","type-post","status-publish","format-standard","has-post-thumbnail","category-space","tag-new-zealand","tag-newzealand","tag-nz","tag-science","tag-space"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/422649","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=422649"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/422649\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/422650"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=422649"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=422649"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=422649"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}