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The competion heats up: SpaceX has confirmed that Google as well as a second investor, Fidelity, have committed $1 billion for the company’s satellite project.
In its blog post, SpaceX wrote that the funding would “support continued innovation in the areas of space transport, reusability, and satellite manufacturing.” But Google’s involvement has led many to believe that the funding will primarily back SpaceX’s new satellite venture, which SpaceX founder and CEO Elon Musk announced late last week. At the time, Musk gave some indication as to the epic scope of the project that lies ahead. He seeks to create a network of hundreds of satellites that could not only connect people on Earth to the web, but also people on Mars—if and when people get there. The total cost of such an audacious project? $10 billion.
The satellite venture calls for more than 4,000 satellites. The SpaceX announcement suggests that the capital will also be used for other things, however.