SpaceX Agrees to Acquire Nationwide 800 MHz Spectrum Portfolio to Boost Starlink Mobile

Major U.S. telecom stocks tumbled in after-hours trading after SpaceX struck a definitive agreement to acquire Grain Management's nationwide 800 MHz spectrum portfolio. Following the news, shares of AT&T dropped as much as 6.75%, T-Mobile fell up to 5.4%, and Verizon slid up to 5.0%. The deal grants Starlink Mobile up to 14 megahertz of low-band frequencies, enhancing building penetration and tackling dead zones alongside its existing 2 GHz mid-band spectrum. The acquisition also follows the Federal Communications Commission's formal approval of Starlink Mobile's Gen2 constellation application to deploy 15,000 satellites.