Google (GOOG) May Make $1B Investment in Musk's SpaceX

Google (Nasdaq: GOOG)(Nasdaq: GOOGL) is planning to make a massive investment in the next-generation of space travel.

According to reports out over the weekend, Google may sink about $1 billion into Space Exploration Technologies Corp., better known as SpaceX. The investment would make the Elon Musk-backed venture valued at over $10 billion.

The specific size of Google's stake in SpaceX following the investment wasn't disclosed.

Musk, who is also CEO at Tesla Motors (Nasdaq: TSLA) and chairman of SolarCity (Nasdaq: SCTY), announced plans last week to launch a vast network of satellites which would bring high-speed Internet to various parts of the world. Revenue received from the venture would be used to fund explorations to Mars. Musk noted that the project could take something near $10 billion of funding and five years to complete.

More on Musk's satellite project via the CBC here.

In a related note, the following is a Vine post from SpaceX on the company's latest effort to land it's Falcon 9 rocket:

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