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SpaceX agrees to buy nationwide spectrum to expand Starlink mobile services

Shares of major telecom carriers slid following the transaction, according to CNBC reporting.

Updated Oct 10, 2026 · 20:11 UTC8 reports

The short version

  • SpaceX reached an agreement to acquire a nationwide 800 MHz spectrum portfolio from Grain Management.[CNBC]
  • The acquisition aims to position Starlink Mobile as a primary wireless competitor, causing shares of AT&T, Verizon, and T-Mobile to drop in extended trading.[CNBC]
  • The transaction remains subject to Federal Communications Commission approval.[CNBC]

Key facts

  • SpaceX agreed to acquire up to 14 megahertz of paired spectrum in the 800 MHz band from Grain Management.[CNBC]
  • The transaction requires regulatory approval from the Federal Communications Commission.[CNBC]
  • Shares of AT&T, Verizon, and T-Mobile dropped in extended trading following the announcement.[CNBC]
  • SpaceX shares rose about 2% in after-hours trading after falling 4% during regular market hours.[CNBC]

What remains uncertain

  • The transaction depends on Federal Communications Commission approval.[CNBC]
  • Industry analysts note the spectrum amount is limited and may require physical ground towers to penetrate urban buildings reliably.[CNBC]

Sources

Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.