On April 14, 2026, Amazon made a significant move by announcing its acquisition of satellite operator Globalstar. The deal, struck at a price of $90 per share, amounts to approximately $11.6 billion. This strategic acquisition is aimed at bolstering Amazon's low-Earth orbit satellite internet business and closing the gap with SpaceX's Starlink.

The acquisition encompasses Globalstar's satellites, infrastructure, and spectrum licenses. It is anticipated to be finalized by 2027, with plans to deploy the related systems in 2028. Additionally, Amazon has forged an agreement with Apple, under which it will provide satellite communication services for iPhones and Apple Watches through its satellite network, Amazon Leo.

Notably, despite Amazon's ambitious plans to invest $200 billion in capital expenditures in the AI sector this year and its commitment to invest up to $50 billion in OpenAI, the company remains confident in its ability to raise the necessary funds to complete this acquisition.