Globalstar's stock surged 12.27% during pre-market trading on Thursday, following multiple reports that e-commerce giant Amazon is in talks to acquire the satellite telecommunications company.

The price movement was driven by news indicating Amazon is negotiating a potential acquisition of Globalstar in a deal valued at approximately $9 billion. According to reports from the Financial Times and other sources, the acquisition would bolster Amazon's low-earth-orbit satellite internet business, known as Leo (formerly Project Kuiper), as it seeks to compete with Elon Musk's SpaceX and its dominant Starlink network.

One complicating factor noted in the reports is Apple's 20% stake in Globalstar, acquired through a $1.5 billion investment in 2024, which would require negotiations between Amazon and Apple. The potential deal represents a strategic move by Amazon to accelerate its satellite internet ambitions by acquiring Globalstar's existing spectrum licenses, gateway station network, and operational experience.