Apple To Invest $1.5B In Globalstar For Satellite Expansion

Apple is investing up to $1.5 billion in Globalstar to enhance iPhone satellite communication services, including $1.1 billion in cash and 20% equity worth $400 million. Globalstar, whose shares surged over 30%, will allocate 85% of its network to Apple. This partnership aims to improve connectivity in remote areas, building on their 2022 feature for emergency messaging.