Blue Origin, the rocket company founded by Jeff Bezos, announced plans to launch over 5,400 satellites to establish a new communications network called TeraWave. The network aims to provide continuous internet access globally, with a focus on high-speed data transfer capabilities exceeding those of existing services.

TeraWave intends to target data centers, businesses, and governments, differentiating itself from Elon Musk's Starlink, which also offers internet and phone services to individual consumers. Blue Origin claims TeraWave will achieve upload and download speeds of up to 6 terabits per second at its fastest, surpassing current commercial satellite service offerings.

The move positions Blue Origin as a direct competitor to Starlink, which currently dominates the satellite internet market, despite TeraWave's planned constellation being significantly smaller. Starlink is a division of Musk's SpaceX.

Another competitor in the satellite internet space is Amazon, the technology giant where Bezos serves as executive chairman after stepping down as CEO in 2021. Amazon is developing its own satellite venture. The financial details of Blue Origin's investment in TeraWave were not disclosed in the announcement. The company did not specify a timeline for the launch of the first satellites or the full deployment of the network. The impact of TeraWave on the existing satellite internet market remains to be seen, but analysts suggest increased competition could drive innovation and potentially lower prices for consumers and businesses.