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U.S. Government Funding SpaceX Starlink $886 Million for Satellite Internet

In January 2020, the U.S. Federal Communications Commission introduced it became growing a Rural Digital Opportunity Fund, or RDOF, to subsidize net provider vendors inclined and capable of deliver excessive velocity net to rural America. Initially, the FCC could distribute $sixteen billion, payable over 10 years, to assist set up "gigabit velocity broadband networks in unserved rural areas." An additional $four.four billion could be doled out later to increase get right of entry to even further.

Elon Musk right away threw his hat within side the ring, promising that for the proper price, Starlink -- the brand new SpaceX satellite tv for pc broadband net provider -- may want to offer gigabit-velocity net get right of entry to from area with simply 20 milliseconds of latency (i.e. lag timesaving to terrestrial cable net). Although to start with hesitant to trust SpaceX's claims, the FCC in the long run agreed to allow SpaceX input the competition -- and now, SpaceX has won.

$885 million here, $885 million there -- it is already actual money

Sadly for traders hoping to make the most of an eventual Starlink IPO, SpaceX failed to win all of the marbles -- however it did win greater than a truthful share. As the SEC introduced on Monday, SpaceX has been awarded $885.five million to offer satellite tv for pc net provider to 642,925 rural houses and corporations unfold throughout 35 states over the subsequent 10 years. 

SpaceX wasn't the best winner (even though it was the best issuer to win via way of means of supplying fast, low-latency satellite tv for pc net from Low Earth Orbit). In total, the FCC awarded $9.2 billion in contracts to one hundred eighty separate ISPs, servicing forty nine of the 50 U.S. states. (Alaska receives blanketed via way of means of a separate FCC program.)

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