The company said the acquisition will strengthen its low Earth orbit project, known as Project Kuiper, though it still trails SpaceX and its Starlink service by a wide margin.

Through the deal, Amazon gains Globalstar’s existing satellites, spectrum licences and infrastructure. That includes about two dozen satellites already in orbit, which will support its drive into direct-to-device services.

This technology allows mobile phones to connect directly to satellites without relying on ground towers, a feature seen as key for emergency use and coverage in remote areas.

Amazon plans to roll out its own satellite internet service later this year. It is also working towards deploying about 3,200 satellites by 2029, with a regulatory deadline requiring roughly half of that number to be in orbit by July next year.

Globalstar’s network will continue to support services already used by Apple devices. The company powers features such as Emergency SOS and Find My on iPhones and Apple Watches, and Amazon confirmed it has signed an agreement to maintain those services.

Apple had invested about $1.5 billion in Globalstar in 2024, securing a 20% stake to expand its satellite-based communication features. A new network backed by Apple is expected to increase Globalstar’s satellite count to 54.

Amazon said the acquisition will also allow it to introduce direct-to-device services from 2028. The system is expected to support voice, text and data connections, particularly in areas where mobile networks are unavailable.

Panos Panay, senior vice president of devices and services at Amazon, said: “There are billions of customers out there living, travelling, and operating in places beyond the reach of existing networks, and we started Amazon Leo to help bridge that divide.”

He added: “By combining Globalstar’s proven expertise and strong foundation with Amazon’s customer-obsession and innovation, customers can expect faster, more reliable service in more places, keeping them connected to the people and things that matter most.”

Despite the expansion, Amazon still faces strong competition. Starlink already operates the largest satellite network in the world, with more than 10,000 satellites and over 9 million users globally.

The service accounts for a significant share of SpaceX’s revenue and is growing through partnerships with telecom operators, including T-Mobile.

Analysts say scale is a big advantage for SpaceX. However, Amazon’s access to Globalstar’s spectrum could help it move faster in direct-to-device services, an area where competition is increasing.

Paul Jacobs, Globalstar’s chief executive, said: “We have long believed low Earth orbit satellite constellations offer the most effective path to truly connect users and devices anywhere and anytime.”

The deal offers Globalstar shareholders $90 per share, or the option to receive Amazon stock. That represents a premium of more than 30% compared with the company’s share price before talks became public.

Shares in Globalstar rose after the announcement, while Amazon’s stock also moved higher.

The transaction is expected to close in 2027, subject to regulatory approvals, including clearance from the Federal Communications Commission, and the achievement of certain deployment milestones.

Powered by Republic, the launch marks an expansion beyond traditional secondary market trading, enabling participation in value creation before companies enter public markets, a phase historically limited to institutional investors and private capital networks.

Through IPO Prime, Bitget extends its Universal Exchange framework into primary market access, bridging a long-standing gap between private and public market participation.

IPO Prime operates through a subscription-based model, where eligible users can apply for allocations in tokenized offerings tied to specific companies.

Allocation limits are determined based on user tier, with higher participation thresholds available to elevated VIP levels.

Following the subscription phase, these digital assets transition into an over-the-counter market on Bitget, enabling continuous pricing, trading and circulation within a structured environment.

The first offering under IPO Prime is preSPAX, a digital asset designed to mirror the economic performance of SpaceX following its potential public listing. As one of the most closely watched private companies globally, SpaceX represents the type of high-growth opportunity that has traditionally remained inaccessible to retail investors.

“Since the beginning of financial markets, access to pre-IPO opportunities has been defined by exclusivity,” said Gracy Chen, CEO of Bitget. “IPO Prime allows users to participate earlier in a company’s growth cycle, with the flexibility of continuous trading. This shifts how and when investors can engage with emerging companies, which gives retailers and new investors a chance to buy-in early. This is part of our greater shift towards building an UEX, democratizing access to financial equality.”

To mark the launch, Bitget will introduce two rounds of preSPAX token airdrops for eligible VIP users, on April 13, 2026 at 10:00 (UTC), providing early participants with additional exposure as the platform begins onboarding its first offering.

The official preSPAX token launches on April 21, 2026 at 12:00 (UTC), with the commitment period starting April 18, 2026, 18:00 and ending April 21, 2026, 18:00 (UTC). Distribution period runs from April 21, 2026 18:00 till April 21, 2026, 22:00 (UTC).

The introduction of IPO Prime is a new route to traditional financial opportunities being structured and accessed.

As boundaries between asset classes continue to blur, platforms are expanding beyond traditional and crypto trading to include early-stage market participation.

Within Bitget’s Universal Exchange model, IPO Prime moves towards integrating diverse financial opportunities into a single, unified environment.

To find out more about IPO Prime and further details on preSPAX, visit here.

Disclaimer: This content is for reference only and does not constitute investment advice or an offer or solicitation to buy or sell any assets. This product may not be suitable for your jurisdiction. This product represents only a mirrored economic interest in the potential upside of SpaceX upon a qualifying event, and does not constitute a direct investment in SpaceX. SpaceX has not endorsed, approved, or authorized this Product in any capacity. Digital asset trading involves significant risks and price fluctuations, and you may lose all investment principal without any guarantee of return. Please ensure compliance with local laws and regulations and seek independent professional advice before investing.

About Bitget: It is regarded as the world’s largest Universal Exchange (UEX), serving over 125 million users and offering access to over 2M crypto tokens, 100+ tokenized stocks, ETFs, commodities, FX, and precious metals such as gold. The ecosystem is committed to helping users trade smarter with its AI agent, which co-pilots trade execution. Bitget is driving crypto adoption through strategic partnerships with LALIGA and MotoGP.

Aligned with its global impact strategy, Bitget has joined hands with UNICEF to support blockchain education for 1.1 million people by 2027. Bitget currently leads in the tokenized TradFi market, providing the industry’s lowest fees and highest liquidity across 150 regions worldwide.

The company said the trial focused on locations with no terrestrial signal. In those areas, Starlink Mobile connected directly to 4G smartphones using its satellite network.

Users were able to send messages, make WhatsApp calls, check maps, and complete transactions on the Airtel app.

Sunil Taldar, chief executive officer of Airtel Africa, said: “We are thrilled to move from announcement to actionable steps with our partners at SpaceX. This testing phase in Kenya is a testament to our commitment to expanding global access.

“By integrating Starlink Mobile’s technology, we are ensuring that our customers remain connected even when they travel beyond our terrestrial network.”

The company now plans to study the results from Kenya before expanding to its other markets. Airtel operates in 14 African countries and serves more than 170 million customers. However, rollout will depend on approvals from regulators in each country.

At the same time, the scope of the service is expected to grow. Airtel and SpaceX are preparing to introduce voice calls and wider data services using the next version of the technology, known as Starlink Mobile V2. That upgrade is designed to deliver broadband directly to standard mobile phones.

Across Africa, other telecom operators are moving in the same direction. MTN Zambia has already tested similar satellite-to-cell services, including data sessions and financial transactions. Nigeria is also expected to see deployments in 2026, with operators positioning for early entry.

So, this is not an isolated test. It is part of a wider push to eliminate mobile dead zones across the continent.

In Kenya, though, regulators are reviewing the development. The Communications Authority has opened a review into the Airtel-Starlink partnership to assess whether satellite signals could interfere with existing 3G, 4G and 5G networks. There are also proposals to raise satellite licence fees sharply, which could increase the cost of deployment.

Beyond Africa, the market itself is growing commendably. Estimates put the satellite phone segment at $3.87 billion in 2025, increasing to $4.49 billion in 2026. The satellite communications market is projected to reach $27.6 billion next year, with long-term growth expected.

Yuhuai (Tony) Wu announced late on Monday night that he was leaving the company. “It’s time for my next chapter,” Wu wrote in a post on X. 

“It is an era with full possibilities: a small team armed with AIs can move mountains and redefine what’s possible.”

Less than 24 hours later, Jimmy Ba followed. In his own post on Tuesday afternoon, Ba thanked Musk and said he would remain close to the company. 

“Enormous thanks to @elonmusk for bringing us together on this incredible journey. So proud of what the xAI team has done and will continue to stay close as a friend of the team,” the post read in part.

Neither Wu nor Ba explained their reasons for leaving or outlined their next steps. Both departures were publicly cordial. Ba, who reported directly to Musk, did not respond to a request for comment sent via X messaging.

The exits mean six of xAI’s original 12 co-founders have now left the company since 2024. Infrastructure lead Kyle Kosic departed for OpenAI in mid-2024. 

He was followed by former Google researcher Christian Szegedy in February 2025. Igor Babuschkin left in August to start a venture firm, while Greg Yang, previously at Microsoft, stepped down last month due to health reasons.

The Financial Times reported that Ba’s resignation followed challenges within xAI’s technical team over demands to improve the performance of its Grok chatbot, as Musk pushes to close the gap with competitors such as OpenAI and Anthropic.

We were unable to independently confirm those internal discussions.

The co-founders’ departures come days after SpaceX announced it would acquire xAI in a deal that values the combined company at $1.25 trillion, with plans to list later this year. 

The transaction is part of Musk’s goal to expand computing capacity, including proposals to place data centres in orbit to support future workloads.

xAI’s flagship product, Grok, has faced complaints in recent months for erratic behaviour and signs of internal tampering. 

Separate changes to the company’s image-generation tools also led to a surge in deepfake pornography on the platform, triggering legal and regulatory attention.

The transaction links a rocket and satellite heavyweight with a company built to develop advanced conversational systems, pushing SpaceX far beyond launch services and into the core infrastructure behind next-generation computing.

People familiar with the agreement say SpaceX is valued at $1 trillion, while xAI carries a price tag of $250 billion. 

Together, that creates a private entity worth about $1.25 trillion, a figure that eclipses Vodafone’s takeover of Mannesmann in 2000, which stood unchallenged for more than two decades.

Under the terms of the deal, investors in xAI will receive 0.1433 shares of SpaceX for each xAI share they hold. Some senior executives at xAI are said to have the option of taking cash instead, priced at $75.46 per share. 

The combined company is expected to price its shares at roughly $527.

Describing the acquisition, Musk said: “This marks not just the next chapter, but the next book in SpaceX and xAI’s mission: scaling to make a sentient sun to understand the Universe and extend the light of consciousness to the stars!”

The merger gives SpaceX a direct route into high-demand computing infrastructure as power, cooling and chip supply become key limits to growth. 

Musk has repeatedly argued that land-based data centres are nearing their limits, both economically and environmentally. Space, in his view, provides cheaper energy management and faster scaling within a few years.

SpaceX already tops the private space market and was last valued at about $800 billion during an internal share sale. xAI, which had been valued at $230 billion late last year, brings not just software expertise but also access to vast data streams and distribution channels created through earlier internal mergers.

This deal also tightens what investors often call the “Muskonomy”. Tesla, Neuralink, The Boring Company and the social platform X now sit alongside a unified space and computing operation. Musk has done this before. 

Tesla’s purchase of SolarCity in 2016 and the earlier share swap that moved X under xAI’s control both followed the same pattern of consolidation.

Attention now turns to the public markets. People close to the matter say the combined business is preparing for a major stock market debut in 2026, with expectations that it could command a valuation above $1.5 trillion. 

If that happens, it would rank among the most valuable listed companies in the world.

Regulators are unlikely to stay quiet. SpaceX holds billions of dollars in contracts with NASA, the US Department of Defence and intelligence agencies. 

Any transfer of assets, staff or technology will attract scrutiny, particularly given Musk’s overlapping leadership roles across several firms.

Neither SpaceX nor xAI responded immediately to requests for comment.

The telecommunications giant saw its profit after tax more than double to $586 million, a sharp climb from $248 million in the prior year, as a more stable operating environment and currency appreciation in key markets bolstered the bottom line.

Nigeria Leads Growth as Naira Stabilizes

In a striking turnaround for its Nigerian operations, reported currency revenue soared by 71% in the third quarter of 2026.

This growth was driven by a combination of tariff adjustments and a substantial appreciation of the Nigerian Naira, which moved from a weighted average of NGN/USD 1,627 in late 2024 to NGN/USD 1,456 in the current quarter.

“These results highlight the strength of our strategy, with strong operating and financial trends across the business,” stated Sunil Taldar, chief executive officer. “Coupling investment with innovative partnerships strengthens our customer proposition and positions us to capture the considerable growth opportunity across our markets”.

Nigeria’s data revenue alone surged by 65.4% in constant currency, reflecting a growing appetite for digital services as data usage per customer climbed to 10.7 GB per month. Smartphone penetration in the country also reached 54.1%, underscoring the success of Airtel’s device-centric strategy.

Airtel Money Hits 50 Million Milestone

The group’s financial services arm, Airtel Money, reached a historic milestone by surpassing 52 million subscribers, representing a 17.3% year-on-year increase.

Even more significant was the surge in transaction volume, with the annualized total processed value (TPV) crossing the $210 billion threshold, a 36% jump that reinforces Airtel’s role as a major driver of financial inclusion across the continent.

Management confirmed that the company remains on track for the highly anticipated listing of Airtel Money in the first half of 2026.

Strategic Investments and Satellite Partnerships

Airtel Africa continues to aggressively expand its infrastructure, reporting a 32.2% increase in capital expenditure to $603 million.

The group rolled out approximately 2,500 new sites and expanded its fiber network to over 81,500 kilometers to enhance coverage and capacity.

In a move to bridge the digital divide in rural areas, the company recently announced a landmark partnership with SpaceX.

Airtel Africa will become the first mobile operator on the continent to introduce Starlink Direct-to-Cell satellite connectivity, allowing customers with compatible handsets to access text and data services even in areas without traditional terrestrial coverage.

Operational Efficiency and Market Outlook

The group reported an EBITDA margin expansion to 48.9%, driven by disciplined cost-efficiency programs and strong revenue growth.

Operating profit grew by 41.3% to over $1.5 billion, while leverage improved to 1.9x from 2.4x a year ago.

Despite the positive momentum, industry authorities note that the group remains exposed to macroeconomic risks, including inflationary pressures and potential currency fluctuations.

However, with 95.2% of its operating company debt now held in local currencies, Airtel appears better positioned to weather future volatility than in previous cycles.

As the company enters the final quarter of its fiscal year, the focus remains clear: accelerating financial inclusion and leveraging new technologies like AI and satellite connectivity to unlock the immense demand across its 14-country footprint.

The network, called TeraWave, will place 5,408 satellites into orbit starting from the fourth quarter of 2027.

Unlike consumer-focused services, Blue Origin says this system is built for governments, data centres and large organisations that need to move large amounts of data reliably and at speed. 

At full capacity, the company claims TeraWave could deliver data rates of up to six terabits per second anywhere on Earth, using optical links between satellites.

The focus is changing from basic broadband to infrastructure that could underpin global computing, national security systems and enterprise operations. Blue Origin says TeraWave is “optimised for enterprise, data centre, and government customers” and could serve up to 100,000 clients worldwide.

This inevitably strengthens Bezos’ competition with Musk. Starlink, operated by SpaceX, is far ahead in scale. By late 2025, it had deployed about 9,300 satellites and built a global user base of more than nine million people across over 155 markets. 

Its model targets households, airlines, ships and businesses, offering typical speeds of 50 to 200 Mbps with low latency.

Elon Musk was quick to respond online, writing on X that “Starlink space to ground laser links will exceed this,” in reference to the speeds Blue Origin is advertising. 

SpaceX has also been pressing regulators to treat satellite systems as essential infrastructure for future wireless networks, showing that it wants formal recognition of Starlink’s strategic role.

What makes TeraWave different is that Blue Origin is building the network as a backbone for future computing needs, including the possibility of data centres operating beyond Earth. 

Musk has openly discussed similar ideas. Commenting last year on the prospect of space-based data centres, he said, “simply scaling up Starlink V3 satellites, which have high-speed laser links would work,” adding: “SpaceX will be doing this.”

Bezos has revealed a similar long-term view, predicting that data centres could begin moving into space within the next decade or two. Google chief executive Sundar Pichai has also weighed in, saying the idea may sound “crazy,” but becomes logical when considering the scale of computing demand ahead.

The announcement also sits alongside Amazon’s rebranded consumer satellite project from Project Kuiper to Leo, with plans for more than 3,000 low-Earth-orbit satellites providing standard broadband. 

In Nigeria, regulators have already cleared Kuiper to operate, granting both Internet Service Provider and International Data Access licences, setting up a direct challenge to Starlink in Africa’s largest telecoms market.

The company will move about 4,400 satellites from roughly 550 kilometres above Earth down to around 480 kilometres over the course of 2026. 

The change affects nearly half of the more than 9,000 Starlink satellites currently in operation and marks one of the largest coordinated orbital shifts ever attempted.

SpaceX says the decision is about risk control. At lower altitudes, failed satellites fall back to Earth much faster, reducing the chance they remain as long-term debris. 

There is also less traffic below 500 kilometres, which lowers the odds of accidental collisions in an increasingly crowded region of space.

Michael Nicolls, SpaceX’s vice president of Starlink engineering, said: “Lowering the satellites results in condensing Starlink orbits, and will increase space safety in several ways,” adding that “the number of debris objects and planned satellite constellations is significantly lower below 500 km, reducing the aggregate likelihood of collision.”

This is a response to challenges that have been building for years. In December 2025, one Starlink satellite suffered what SpaceX described as an anomaly at about 418 kilometres in altitude. 

The spacecraft lost contact and dropped rapidly, suggesting an onboard explosion. Debris was created, rare but serious for a company operating at such scale. 

Around the same period, another Starlink satellite narrowly avoided colliding with a Chinese spacecraft, revealing how thin the margins have become.

Space scientists point to the approaching solar minimum, a phase when the Sun is less active. During this period, Earth’s upper atmosphere contracts, reducing drag on satellites. 

Objects in orbit then stay aloft longer unless they are placed lower. By shifting Starlink down now, SpaceX is ensuring its satellites do not linger in space if something fails.

The reconfiguration is being coordinated with the United States Space Command, regulators, and other satellite operators. With thousands of spacecraft adjusting altitude, traffic management becomes urgent. A single miscalculation could trigger a chain reaction.

SpaceX’s place in orbit makes its choices hard to ignore. In 2025 alone, the company carried out more than 160 Falcon 9 launches, with over 120 missions dedicated to expanding Starlink. 

The network now serves about 9.25 million customers across more than 155 countries, including governments and large organisations. No other operator comes close in scale.

Analysts estimate that by 2030, up to 70,000 satellites could be operating in low Earth orbit if current plans hold. Amazon’s Project Kuiper, OneWeb, and several national programmes are all adding to the congestion. 

Regulators and scientists warn of a “tragedy of the commons”, where unmanaged growth makes parts of orbit unsafe for everyone, including weather, navigation, and scientific missions.

Even with 88% of the population being covered by terrestrial networks, millions are stranded in the digital dark. Airtel Africa, in partnership with SpaceX, says that changes next year.

Speaking at a press conference held on Thursday, December 18, 2025, Dinesh Balsingh, CEO of Airtel Nigeria, expanded on the earlier announcement  that Airtel Africa would deploy Starlink Direct-to-Cell satellite connectivity across its 14 markets. 

“This provides satellite connectivity across all our 14 markets of Airtel Africa, serving about 174 million customers. Airtel Nigeria will launch this service in 2026, providing data for select applications, text messaging, and USSD services,” Balsingh said.

This is a calculated strike at the incessant gaps in Nigeria’s digital sector. Fibre vandalism, inaccessible terrain, and low-density rural populations have long made network expansion expensive and slow. “Some areas are deserts, mountains, or simply too remote for fibre. Satellite connectivity ensures reliable access wherever you go, irrespective of geography,” Balsingh further noted.

Starlink’s first-generation and next-generation satellites will bring high-speed mobile broadband, ensuring smartphone users can access WhatsApp, mobile money, and essential apps even where no terrestrial network exists. 

Airtel Nigeria becomes the first operator in the country to offer this service, powered by 650 satellites for seamless coverage.

Who Benefits?

The press conference also addressed the question of who benefits? Balsingh explained, “It will be a combination of both. While deep rural areas have lower smartphone penetration, there is still a significant population. Connectivity will serve local communities and travellers alike,” he said. Farmers, traders, and seasonal workers can remain connected when moving between towns and remote villages.

Technological advances now make this leap feasible. A decade ago, satellite internet was expensive and impractical for mobile use. Today, falling device prices and SpaceX innovations bring it within reach. 

“Technology moves forward. Today, around 50–55% of our customers use smartphones, up from single digits a decade ago. SpaceX’s innovations make satellite mobile connectivity realistic and scalable,” Balsingh noted.

Airtel Africa is doubling down on investments alongside Starlink. Over the past six months, 700 new sites were rolled out, 99% 4G-ready, while preparations for 5G deployment continue. Home broadband solutions, including Smart Connect outdoor units, will complement mobile coverage, bringing fibre-like connectivity into homes in urban and semi-urban areas.

Beyond coverage, resilience is an indispensable goal. When fibre is cut or vandalised, satellite connectivity acts as a reliable fallback. “This is a big boon for rural markets. We have to ensure the service is well deployed and people don’t feel a difference as they switch seamlessly between these technologies.”

For Airtel Africa, Balsingh stressed that the Starlink partnership isn’t just about technology, but digital inclusion, financial accessibility, and economic empowerment. “We remain committed to our leadership in connectivity innovations that empower individuals, capitalise economic opportunities, and unlock sustainable development.”

Airtel says the Starlink Direct-to-Cell service launch in Nigeria is slated for 2026, pending regulatory approvals, and promises to ensure no community is left disconnected.

This comes after SpaceX, his private aerospace company, launched a December tender offer valuing the firm at $800 billion, double its worth in August, according to two investors who spoke to Forbes. 

Musk, who owns roughly 42% of SpaceX, sees his stake alone jump by an estimated $168 billion, bringing his total net worth to around $677 billion as of Monday noon Eastern Time.

SpaceX is preparing for a public offering in 2026, which could value the company near $1.5 trillion. Even without the IPO, Musk’s SpaceX holdings are now his single most valuable asset. 

Tesla is a major contributor too; his 12% stake in the electric vehicle company is estimated at $197 billion. Meanwhile, Musk is appealing a Delaware court decision that voided parts of his 2018 CEO Performance Award, which Forbes has discounted by 50% pending the outcome, currently estimated at $69 billion.

Musk’s reach extends beyond Tesla and SpaceX. His AI startup, xAI Holdings, is reportedly in talks to raise $15 billion in new funding at a $230 billion valuation, double its March 2025 valuation of $113 billion. Musk owns 53% of xAI, which Forbes estimates at $60 billion.

Tesla shareholders have also approved a record-breaking $1 trillion pay plan for Musk, contingent on achievements such as growing Tesla’s market capitalisation eightfold over the next decade. “Mars shot” targets like this show Musk’s vision of merging electric vehicles with robotics and AI.

Over the past five years, Elon Musk has repeatedly rewritten the record books, making the $600 billion worth no surprise.

He was worth $24.6 billion in March 2020, surpassed $100 billion in August 2020, $200 billion in 2021, $300 billion later that year, $400 billion in December 2024, and $500 billion in October 2025. His lead over the second-richest person, Google co-founder Larry Page, now sits at $425 billion.

SpaceX’s growth, particularly through Starlink’s expansion to over three million subscribers and ventures into aviation and maritime internet services, is a key driver of Musk’s wealth surge. 

Tesla, despite slower sales, has seen its stock climb 13% this year, partly due to investor confidence in Musk’s robotics and autonomous vehicle ambitions.

If the SpaceX IPO meets its projected valuation, Musk could soon become the first trillionaire in history.