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Telecommunications & Media

Amazon plans to deploy 5,105 satellites, takes aim at SpaceX's home turf

Amazon is moving to build a new satellite network that provides services directly to mobile phones. Foreign media reports said Amazon applied to the U.S. Federal Communications Commission for permission to operate 5,105 satellites and plans to begin launches from 2028. The filing follows Amazon's acquisition of Globalstar's satellite business unit and outlines plans to use Globalstar spectrum and integrate services with Amazon's low-Earth-orbit broadband constellation, Leo. The move sets up broader competition with SpaceX.

AI & Enterprise

Jim Cramer warns of dotcom bubble for Nvidia, OpenAI, says 2000 comes to mind

Nvidia is discussing support for financing OpenAI’s large AI data centre project, prompting warnings about a circular funding structure in AI investing. CNBC cited Jim Cramer as saying the AI boom is unfolding in a way that recalls the dotcom bubble and that suppliers should not finance customers’ purchases. He said risks could spread if data centre funding cools. OpenAI filed confidentially for an IPO in June but has not given a timing.

Crypto

Strategy builds cash instead of Bitcoin, sells MSTR and buys back STRC

Strategy raised $544.5 million by selling MSTR common shares last week and bought back $25 million of STRC preferred stock, while increasing its dollar reserves to $3.75 billion. It made no additional Bitcoin purchases or sales during the period, keeping holdings at 843,775 BTC. The company said it repurchased 288,930 STRC preferred shares for $25 million. Market moves were mixed as attention focused on liquidity management.