Here’s Why Google Wants To Invest Up to $1 Billion In SpaceX
Google is close making a major investment of as much as $1 billion in Elon Musk’s SpaceX, sources told The Information and The Wall Street Journal. Although SpaceX is most well-known for its work on reusable rockets, Google is interested inMusk’s recently announced ambitions to use satellites to beam low-cost internet around the world.
Musk told BusinessWeek he wants to create a global communications system that would be “larger than anything that has been talked about to date,” that would take at least five years and $10 billion to build.
Google has long had similar ambitions itself. By spreading internet around the world, including to remote regions, it can boost the number of people who have access to its services.
“Internet connectivity significantly improves people’s lives,” a Google spokesperson told The Guardian in June 2014 about its $1 billion internet-spreading ambitions. “Yet two thirds of the world have no access at all. It’s why we’re so focused on new technologies—from Project Loon to Titan Aerospace—that have the potential to bring hundreds of millions more people online in the coming years.”
So far, Google has already been working with balloons, drones, and satellites to figure out how to spread internet access.
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Source: Business Insider