In the increasingly competitive race to provide global internet coverage, Elon Musk's Starlink project now faces a formidable challenger from China. The Chinese government has recently launched the first phase of its ambitious "Thousand Sails" program, a satellite constellation intended to offer worldwide internet connectivity similar to Starlink and Amazon's Project Kuiper.

The grand vision for the Chinese constellation involves a total of 15,000 satellites, which would ensure comprehensive global coverage once completed. However, reports suggest that progress may prove to be slow. China aims to have 648 satellites in space by 2025, still leaving them far short of their ultimate goal.

In stark contrast, Starlink is already operational in various locations, including the one the writer is currently using. Project Kuiper, developed by Amazon, is also expected to enter beta testing by the end of this year, targeting countries in South America as its initial market.

In terms of progress, the Chinese project is estimated to be only around 4% operational by 2025. If the development continues at the same pace, with an additional 4% achieved every four months, it may take until 2033 for China's internet system to become fully operational. While it may find a market from local users and compelled adopters, concerns arise regarding the quality and functionality of the service given China's reputation for limitations and censorship.

However, despite the new competition, it should be noted that Starlink itself is not directly available for investment since it is a privately held entity. Instead, investors can consider investing in Elon Musk's Tesla operations, which have attracted mixed ratings from Wall Street analysts. Currently, the consensus on TSLA stock indicates a Hold rating, with 11 Buys, 12 Holds, and seven Sells assigned in the past three months. After a 20.62% decline in share price over the past year, the average TSLA price target of $213.92 per share suggests a potential upside of 7.12%.

As the battle for global internet coverage intensifies, it remains to be seen how the competing projects will fare. The emergence of China's Thousand Sails program adds another player to the field, but its lagging progress and potential censorship concerns may present challenges in attracting a broad market. In the meantime, users continue to rely on existing options like Starlink and eagerly await new developments in the race for global connectivity.