Google wants to ‘hitch its wagon to a star’ to beam internet access to the farthest corners of the world. So the tech giant, along with Fidelity, has invested $1 billion in the private exploration company, SpaceX.
Google and Fidelity will collectively own just under 10 percent of Space Exploration Technologies (SpaceX), founded by Elon Musk. The company said in a statement that this funding would be used to “support continued innovation in the areas of space transport, reusability, and satellite manufacturing.” The latest investment values SpaceX, which designs, manufactures and launches the world’s most advanced rockets and spacecraft, at over $10 billion. SpaceX have been used to deliver goods to the International Space Station.
“Space-based applications, like imaging satellites, can help people more easily access important information, so we’re excited to support SpaceX’s growth as it develops new launch technologies,” Google said in a statement.