Amazon eyes $9 billion Globalstar deal to rival SpaceX's Starlink, FT reports

Amazon is reportedly in talks to buy satellite operator Globalstar for about $9 billion as it expands its low-earth-orbit efforts (Leo/Project Kuiper) to compete with SpaceX's Starlink. The report lifted Globalstar shares (premarket +12.3%) while Amazon shares slipped nearly 2%. Globalstar's market cap was about $8.81 billion at the last close. A 20% stake held by Apple complicates negotiations, requiring coordination between Amazon and Apple. The potential acquisition highlights intensifying competition in satellite internet: Amazon has 180 Leo satellites in orbit targeting similar customers to Starlink, which runs over 9,500 satellites and serves more than nine million users. Separately, SpaceX has confidentially filed for a U.S. IPO, underscoring mounting market focus on satellite connectivity businesses.