Oil Prices Rise as U.S.-Iran Tensions Grip Strait of Hormuz 
Nvidia Eyes $3 Billion Investment in SoftBank-Backed AI Data Center 
Gold Prices Rise as Weak US Retail Sales Cut Fed Rate Hike Bets 
Lockheed Martin Secures $153.5 Million in U.S. Defense Contracts 
Sun Pharma Wins U.S. Appeal in Pfizer Lipitor Antitrust Case 
US Eyes Refinery Boost as Trump Seeks Relief From High Gas Prices 
Schott Pharma Stock Rises as Barclays Upgrades Rating on Growth Outlook 
Tesla Roadster Reveal Could Feature SpaceX Thrusters in August 
Malaysia Inflation Eases to 1.8% in July, Below Forecast 
Barclays Warns U.S. Stock Rally May Be Detached From Fundamentals 
Hermès Stock Downgraded by RBC as Luxury Growth Premium Narrows 
US Stock Futures Mixed as Fed Rate Hike Bets Fade, AI Deals in Focus 
BofA Sees Micron EPS Topping $230 by 2030, Backs Major Stock Upside 
European Stocks Slide as Iran War Escalation Sends Oil Higher 
UK Wage Growth Holds at 3.5% as Unemployment Rises 
Trump Imposes New Tariffs on Drone Imports Over US Security Concerns 
European Stocks Edge Higher as Fed Rate Pause Bets Rise 
Add as a preferred source on Google
Amazon is set to launch a total of 83 rockets in over five years to assemble its satellite constellation and offer satellite-based broadband internet service anywhere in the world. This project has been dubbed Project Kuiper and aims to compete with SpaceX's Starlink owned by Elon Musk.
According to Reuters, the deals for the rocket launches were signed with Arianespace, a French company that is also the world's first commercial launch service provider; Jeff Bezos' Blue Origin; and the United Launch Alliance, a joint venture between Boeing Co. and Lockheed Martin.
The plan is for Project Kuiper to use more than 3,000 satellites in low earth orbit to provide high-speed, low-latency internet to subscribers that include businesses, government agencies, and common households. Rajeev Badyal, Project Kuiper's vice president of technology, said that being able to secure launch capacity from multiple providers lowers the risks related to the launch vehicle stand-downs. It also helps in saving on costs that can be passed on to the subscribers.
The agreement states that Arianespace's Ariane 6 rockets will be used for the 18 launches, 12 with Blue Origin's New Glenn, and ULA's Vulcan Centaur rockets will handle 38 launches. Together, they will offer the capacity for the company to position the majority of its satellite constellation into orbit. There is also an option for additional 15 launches if necessary.
With the number of launches that will be carried out by the said companies, it is apparent that this is a massive rocket deal for Amazon. For the launch of its internet broadband service, the company is currently designing and developing its low-earth orbit satellites.
CNBC reported that Amazon wants to build a network of 3,236 satellites so it can efficiently provide high-speed internet worldwide. The U.S. Federal Communications Commission (FCC) has approved the company's satellite system in 2020, with over $10 billion in investment for its setup.
Meanwhile, Amazon's senior vice president of devices, Dave Limp, said in a statement regarding the project, "We still have lots of work ahead, but the team has continued to hit milestone after milestone across every aspect of our satellite system. These launch agreements reflect our incredible commitment and belief in Project Kuiper."
