SpaceX announced on October 9, 2026 that it will buy cellular spectrum licenses from an investment firm, paying $8 billion for 800 megahertz of low-band spectrum on top of $20 billion for EchoStar spectrum. The FCC must still approve the deal; it had earlier approved SpaceX's bid to launch up to 15,000 mobile-service satellites, and its EchoStar approval required a terrestrial network component. AT&T fell nearly 10.5%, Verizon 9% and T-Mobile nearly 13%, while tower owners rose. J.P. Morgan estimates $100 billion for a nationwide cell tower network, and Bernstein has downgraded AT&T on Starlink disruption fears. Reporting now says AT&T and Verizon passed on the 800 MHz block because they did not take Musk seriously.