Amazon Expands Kuiper Satellite Services in Vietnam with $570M Investment

Amazon is accelerating the deployment of its Kuiper satellite broadband services in Vietnam, aiming to provide internet connectivity to underserved and remote areas via low-Earth-orbit satellites. The company has committed to investing $570 million by 2030, which includes building up to six ground stations and establishing manufacturing partnerships in Bac Ninh province, alongside setting up a local entity, Amazon Kuiper Vietnam, in Ho Chi Minh City. This effort comes in direct competition with Elon Musk's SpaceX Starlink service, which has also been authorized to operate in Vietnam under a similar five-year pilot program targeting consumers, businesses, and government entities. The initial launch of Kuiper satellites has been facilitated by SpaceX’s Falcon 9 rocket, which placed 24 Kuiper satellites into orbit earlier this year. Analysts project that Project Kuiper could generate $7.1 billion by 2032 if it captures just 30% of the global population currently lacking high-speed broadband. Despite the bullish outlook and an average brokerage rating of 'Outperform,' some valuation models suggest a potential downside in Amazon’s stock price, reflecting mixed investor sentiment amid this ambitious expansion.