TAMPA, Fla. — SpaceX and Amazon’s satellite constellations stand to get about 4% of the nearly $20 billion that states have proposed for rural broadband buildouts, representing roughly 21% of the locations under the federal BEAD program.

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Jason Rainbow writes about satellite telecom, finance and commercial markets for SpaceNews. He has spent more than a decade covering the global space industry as a business journalist. Previously, he was Group Editor-in-Chief for Finance Information Group,...