Google is on a mission to deliver Internet access to underserved areas, and it’s now reportedly looking to Elon Musk and his SpaceX team for help.
The Web giant is gearing up to make a huge investment in the rocket maker as part of an effort to develop satellites that could beam low-cost Internet to areas of the world that currently don’t have it, according to a new report from The Information, citing several unnamed people “familiar with the talks.”
“The price and terms Google and SpaceX are discussing couldn’t be learned, although one person familiar with them said Google has agreed to value SpaceX north of $10 billion and that the size of the total round, which includes other investors, is very large,” the report notes.
The Wall Street Journal corroborated the rumor, and added that the investment could total roughly $1 billion. At this point, it’s still unclear what exact stake Google will wind up with in the rocket maker.