- Google (NASDAQ:GOOG) and Fidelity are investing $1B in rocket/spacecraft upstart SpaceX through a new funding round. With SpaceX stating Google/Fidelity will collectively have a stake that's "just under 10%," the round apparently features a ~$10B valuation.
- The Information reported yesterday Google was near a deal to invest in the Elon Musk-founded company, and that its goal would be to "support the development of SpaceX satellites that could beam low-cost Internet around the globe to billions who don’t have it."
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Update: The WSJ reports Google was responsible for $900M of the funding (giving it a 7.5% stake), and that the round valued SpaceX at $12B.