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Amazon wins FCC approval for $10 billion satellite internet project


Amazon also posted record earnings on Thursday.

AFP/Getty Images Inc. has won approval from the Federal Communications Commission to build a $10 billion satellite-internet network that would rival SpaceX’s Starlink network.

In documents released Thursday, the FCC authorized Amazon’s request to construct a network of more than 3,200 satellites in low Earth orbit. Amazon told the FCC it intends to launch the satellites in five phases and at three different altitudes, with the service becoming operational once the first wave of 578 satellites is in orbit.



Stocks are set to jump Friday after tech giants post strong earnings, Nasdaq futures gain nearly 1%

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