Globalstar Inc. (GSAT) stock surged on Monday after the company announced a major agreement with Apple Inc. (AAPL) that involves building and launching a new mobile satellite services (MSS) network. Apple will invest $1.5 billion in Globalstar, including a $1.1 billion prepayment for the network and a $400 million stake in Globalstar’s subsidiary. This strategic partnership is expected to significantly boost Globalstar’s growth and financial stability.
The European Space Agency (ESA) is embarking on an ambitious project called HydRON, aiming to create a satellite network for space-based internet that rivals SpaceX’s Starlink. This mega-constellation of satellites will utilize laser signals to establish an optical network for high-speed broadband, targeting internet speeds of one terabyte per second. HydRON’s low-orbit and geostationary satellites are designed to enhance efficiency and reliability, while its use of laser technology increases data transfer speeds and security. The project, currently in its final design phase, is expected to bring internet access to remote areas and revolutionize Europe’s optical telecommunications industry.
