The Federal Communications Commission rescinded more than $2 billion in grants previously awarded to Elon Musk’s SpaceX and a small internet provider after the regulator ruled the companies weren’t likely to meet requirements for government funding to help expand broadband access.
The FCC had awarded SpaceX, formally known as Space Exploration Technologies Corp., $886 million in 2020 to provide faster internet to places with poor connections or no broadband access through its Starlink satellite service.
