According to reports from The Information, Google might be the top investor in Elon Musk’s SpaceX Satellite internet project which is a $10 billion dollar project to build a satellite internet network over the five years period.
Reportedly Google is ready to invest $1 billion in the project at a valuation of $10 billion. This will be another addition to the internet projects Google has invested it. Project Loon is one of the flagship projects of this nature.
The idea of SpaceX project of Elon Musk is based on networking space based satellites with a laser based system. These tiny satellites will be orbiting the Earth at an altitude of 750 miles which is far lower height than traditional satellite orbit height of 22,000 miles.
Better coverage and greater speed are two of the prime benefits of satellite internet compared to fiber because light travels 40 times faster in space than on fiber. This will allow better coverage in rural areas.