Google is reportedly close to investing about $1 billion in Space Exploration Technologies, better known as SpaceX, which is backed by Tesla chief executive Elon Musk. Google, which has reportedly agreed to value SpaceX at more than $10 billion, is said to be interested in the investment as part of its efforts to spread Internet access to remote regions of the world. Its funding would go toward supporting the development of SpaceX satellites that are able to transmit the Internet to various areas that don’t currently have it at low costs, according to a report by The Information. Just last week, Musk further detailed a concept for SpaceX to launch satellites into a low orbit with the purpose of delivering Internet access.
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