Lates News

SpaceX (SPCX.O) announced on Thursday that it has reached an agreement to acquire a portfolio of nationwide low-band spectrum licenses, which will enable it to compete directly with traditional wireless communications giants across the United States. While Starlink Mobile's existing global 2 GHz mid-band spectrum will provide high-bandwidth capacity, this new spectrum will allow its signals to penetrate obstacles. The move accelerates Musk's ambition to bypass traditional wireless infrastructure and deliver cellular connectivity directly to smartphones from Earth orbit. The deal involves acquiring 100% equity in a nationwide 800 MHz spectrum portfolio held by private equity firm Grain Management, and still requires regulatory approval from the U.S. Federal Communications Commission (FCC). In addition, the FCC this week approved Starlink Mobile's application for a second-generation satellite constellation, authorizing SpaceX to launch 15,000 satellites optimized for the 2 GHz band worldwide. Following the announcement, U.S. telecom company shares fell in after-hours trading, while SpaceX (SPCX.O) shares rose more than 1.7%.