Shares of major U.S. wireless carriers, including AT&T, Verizon and T-Mobile, fell sharply in pre-market trading on October 9, 2026, after SpaceX announced plans to acquire nationwide low-band wireless spectrum from investment firm Grain Management. The deal requires FCC approval and would give SpaceX control of 800 MHz spectrum, which can help mobile signals reach inside buildings and fill gaps in Starlink’s satellite-based service.
The planned acquisition marks a move by SpaceX to compete more directly with established mobile operators. By combining terrestrial spectrum with its satellite network, Starlink Mobile aims to offer broader service and could challenge incumbent carriers for subscribers. AT&T, Verizon and T-Mobile shares each fell around 7%. Investors see the deal as a significant long-term challenge to the U.S. wireless industry.