Starlink · SpaceX · China · Hong Kong · Elon Musk · Rest of World
China launches a rival satellite constellation as SpaceX goes public
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Chinese upstart Spacesail is trying to steal SpaceX’s thunder.
Key facts
- Spacesail raised over $1 billion in 2024, and is seeking fresh capital to expand its constellation to 15,000 satellites by 2030
- State-backed Spacesail launched two satellites on a reusable rocket on June 1, days before SpaceX’s $1.8 trillion listing on June 12, the largest public offering to date
- In Kazakhstan, Starlink’s project to connect 2,000 schools stalled in 2024 after the company refused to meet the government’s data security requirements, he said
- In its regulatory filing, the company has disclosed a deal under which Google will pay approximately $920 million a month for computing capacity at those facilities through June 2029
Summary
State-backed Spacesail launched two satellites on a reusable rocket on June 1, days before SpaceX’s $1.8 trillion listing on June 12, the largest public offering to date. Starlink’s 7,000 satellites dominate internet service in virtually every market where they are present. Meanwhile, Spacesail launched three batches of satellites in five days, reaching 200 in orbit on June 5. “Spacesail appears to be deliberately targeting countries where Starlink has faced political or regulatory issues, or other market issues,” Blaine Curcio, founder of Orbital Gateway Consulting, a Hong Kong-based firm tracking the Chinese space industry, told Rest of World. SpaceX and Spacesail had not responded to Rest of World ’s queries by the time of publication.