Verizon, Amazon's Project Kuiper Collaborate To Develop Connectivity Solutions

Verizon Communications Inc VZ and Project Kuiper, an advanced low Earth orbit (LEO) satellite network from Amazon.com Inc AMZN, collaborated to develop connectivity solutions for unserved and underserved communities.
Project Kuiper and Verizon have begun developing technical specifications and defining preliminary commercial models for a range of connectivity services for U.S. consumers and global enterprise customers operating in rural and remote locations worldwide.
Project Kuiper aims to increase global broadband access through a constellation of 3,236 satellites in low Earth orbit (LEO) around the planet.
Today's announcement will help us explore ways to bridge that divide and accelerate the benefits and innovation of wireless connectivity, helping benefit our customers on both a global and local scale, Verizon Chair and CEO Hans Vestberg said.
Price Action: AMZN shares closed higher by 1.68% at $3,376.07 on Tuesday.