Amazon (AMZN) Escalates Space War: Vietnam Kuiper Satellite Push Directly Challenges Musk’s Dominance

Amazon fires latest salvo in billionaire space race—deploys Kuiper satellite network through Vietnam expansion, taking aim squarely at SpaceX's Starlink empire.

The Geopolitical Gambit

Vietnam becomes newest battleground for satellite internet supremacy. Amazon's strategic pivot taps into Southeast Asia's booming digital economy—while conveniently bypassing Musk's regulatory headaches elsewhere.

Infrastructure Over Ideology

No flashy rocket landings here. Bezos' play focuses on pure infrastructure: deploying low-earth orbit satellites to serve underserved markets. Because when you can't out-cool Musk, out-logistic him.

The Unspoken Calculus

Wall Street's watching—not for the technological breakthrough, but for the subscription revenue potential. Because nothing says 'growth stock' like betting billions on hardware that might become space junk before turning a profit.

Elevate Your Investing Strategy:

• Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

According to the Asian country’s Ministry of Science and Technology, the decision to launch in Vietnam was taken following a meeting between the government and Gonzalo de Dios, head of Global Licensing and Project Kuiper at Amazon.

Infrastructure Investment

Amazon’s Kuiper initiative aims to deliver broadband internet services via low Earth orbit satellites, targeting underserved areas in remote regions and on islands.

Under the agreement, Amazon has pledged to spend $570 million by 2030 to build the necessary infrastructure to zoom off into space.

That includes up to six ground stations and terminal manufacturing in Bac Ninh province through local partnerships.

Amazon has also established a Vietnamese entity, Amazon Kuiper Vietnam, and applied for approval to provide low Earth orbit satellite services in a five-year pilot program targeting consumers, businesses, and government subscribers.

Starlink Rivalry

Rival Starlink has also been given the go-ahead by the government to operate a similar scheme in Vietnam over the same five-year period. The two companies have an intriguing relationships in the staellite sector.

Back in April, the first 27 Kuiper satellites were launched into space from Florida. In early August a Falcon 9 rocket, operated by Starlink owner SpaceX, carried Amazon’s latest batch of Kuiper satellites into low-Earth orbit. The Falcon 9 rocket successfully placed 24 Kuiper satellites into space, which can now provide internet connections on Earth.

Analysts believe that Project Kuiper could ultimately generate $7.1 billion for Amazon by 2032, assuming it gets just 30% of the 2.6 billion people who do not have high-speed broadband access right now.

This WOULD mean another key revenue stream in the broad Amazon empire.

However, privately held SpaceX’s Starlink is currently the dominant provider of low-Earth orbit satellite internet, with a constellation of nearly 8,000 satellites and about five million customers.

Is AMZN a Good Stock to Buy Now?

On TipRanks, AMZN has a Strong Buy consensus based on 45 Buy and 1 Hold ratings. Its highest price target is $300. AMZN stock’s consensus price target is $263.74, implying a 15.32% upside.