SpaceX Announces 800 MHz Spectrum Deal as Telecom Shares Slide

SpaceX announced plans to acquire 800 MHz spectrum licenses from Grain Management, pushing the company closer to a broader U.S. wireless strategy and pressuring major telecom shares in after-hours trading.

AT&T shares fell 7.3%, while T-Mobile and Verizon each declined 6.6%. SpaceX shares rose 1.5% after the announcement.

The low-band spectrum is designed to improve signal penetration through buildings and is supported by most existing mobile devices. SpaceX plans to combine Starlink’s satellite-to-cell service with terrestrial networks once the Federal Communications Commission approves the transaction.

Elon Musk said the spectrum would provide a key remaining resource for Starlink’s goal of nationwide mobile coverage. The purchase price was not disclosed.

The proposed deal would expand SpaceX’s role beyond satellite connectivity into services that compete more directly with established U.S. wireless carriers. Its next concrete step is regulatory review by the FCC.