Tags: amazon | jeff bezos | satellite | billions

Jeff Bezos: Amazon's Satellite Project Will Cost Billions

 Jeff Bezos: Amazon's Satellite Project Will Cost Billions
(David McNew/Getty Images)

Friday, 07 June 2019 08:01 AM

Amazon.com Inc. plans to spend billions of dollars building a network of thousands of satellites to provide broadband internet service, Chief Executive Officer Jeff Bezos said.

The Project Kuiper initiative, disclosed earlier this year, is the type of big bet the company needs to keep making as its massive scale renders smaller endeavors less meaningful, Bezos said Thursday at Amazon’s re:MARS conference in Las Vegas.

The project, he said, is “a very good business for Amazon” because it requires a big capital expenditure, Bezos said. “It’s multiple billions of dollars of capex. Amazon is a large enough company now that we need to be doing things that, if they work, can actually move the needle.”

In filings with the International Telecommunications Union, Amazon (AMZN) said it aimed to place 3,236 satellites into low Earth orbit, and use them to beam broadband internet connectivity across the globe. The project is separate from Bezos’s space launch vehicle maker, Blue Origin LLC.

“By definition you end up accessing people who are kind of, underbandwidthed,” Bezos said. “Rural areas, remote areas. And I think you can see that, going forward, access to broadband is going to be very close to a fundamental human need.”

Bezos was speaking about the project when an animal rights activist rushed the stage. The protester was taken backstage by security personnel without incident.

© Copyright 2019 Bloomberg News. All rights reserved.

   
1Like our page
2Share
Companies
Amazon.com Inc. plans to spend billions of dollars building a network of thousands of satellites to provide broadband internet service, Chief Executive Officer Jeff Bezos said.
amazon, jeff bezos, satellite, billions
224
2019-01-07
Friday, 07 June 2019 08:01 AM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved