Market Chatter: Alphabet to Spin Off Taara to Compete With Starlink

MT Newswires Live
03-17

Alphabet (GOOG) is spinning off its Taara unit in a move to challenge satellite network Starlink's dominance as a provider of high-bandwidth services in remote areas, the Financial Times reported Monday.

Taara, which is part of Alphabet's incubator called X, aims to use its proprietary wireless optical communication technology to provide high-speed internet connectivity. The company says the technology uses beams of light between stratospheric balloons to deliver the services.

According to the tech giant, Taara has already deployed hundreds of links in more than a dozen countries and has partners including T-Mobile (TMUS) in the US and Airtel in India.

Alphabet did not immediately respond to a request for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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