Google and Fidelity invest $1 billion in SpaceX

Google and Fidelity Investments have invested $1 billion in SpaceX, Elon Musk's private spacecraft company.

The Wall Street Journal reports that the investment values SpaceX at more than $10 billion. Thanks to the investment, Google and Fidelity will collectively own 10 percent of SpaceX.

The deal emphasizes Google's effort to provide internet by satellite, which would increase the number of people who can use Google programs, the Journal notes. It also gives SpaceX more money for Musk to "pursue dreams of going to Mars," The New York Times reports.

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