San Francisco – November 02, 2026 -- SpaceX agreed on October 8 to acquire nationwide 800 MHz licenses covering up to 14 megahertz of paired spectrum. T-Mobile shares fell 13.27% the next trading day, to $148.58 from $171.31.
FCC approves 15,000-satellite Starlink Mobile Gen2 constellation with conditions
The Federal Communications Commission authorized SpaceX to launch 15,000 satellites optimized for 2 GHz spectrum globally. Its Space Bureau and Wireless Telecommunications Bureau adopted and released the order on October 6, marking the application granted in part and deferred in part, with conditions. Among the deferred items is SpaceX's proposed use of the 2020-2025 MHz band in the United States.
SpaceX says its 2 GHz mid-band spectrum will carry high-bandwidth capacity in the U.S. The 800 MHz low-band licenses will add a coverage layer that lets the Starlink Mobile signal penetrate walls and reach devices indoors. The company adds that most existing mobile devices already support the band.
SpaceX buys T-Mobile's former 800 MHz licenses via Grain Management, closing due in first half of 2027
The licenses passed through Grain Management, LLC. T-Mobile's quarterly report says it completed the sale of its 800 MHz licenses to Grain affiliates on August 10, 2026. It received $2.9 billion in cash plus Grain's 600 MHz licenses, valued at $690 million, for total consideration of $3.6 billion.
T-Mobile is entitled to 50% of future proceeds from Grain transactions that monetize the 800 MHz licenses, above Grain's invested capital, certain expenses and a specified return. Grain signed its purchase and sale agreement with SpaceX on October 8. T-Mobile has not recognized a gain on that potential additional consideration. No purchase price has been disclosed. SpaceX expects the deal to close in the first half of 2027, subject to regulatory and customary closing conditions.
Carrier stocks drop 8%-plus in one session as SpaceX gains 1.25%
On October 9, Verizon closed at $41.65 and AT&T at $22.18, both ex-dividend. Adjusted for dividends, the two fell between 8.75% and 9.81%. SpaceX rose 1.25% to $162.57.
The moves partly reversed by October 30. T-Mobile closed at $156.44, up 6.21% on the day, while SpaceX closed at $134.72, down 6.37%.
The three carriers formed their own joint venture on September 14 to pool certain spectrum resources. The venture is meant to add capacity, let satellite providers reach more customers on a single unified platform and end wireless dead zones across the U.S., rural areas included.
SpaceX reports $14.6 billion in Q3 revenue, up 161%
SpaceX posted third-quarter net income of $4.4 billion, against a $1.1 billion loss a year earlier, and Adjusted EBITDA of $8.8 billion. Connectivity revenue rose 69% to $5.2 billion. Starlink consumer subscribers reached 13.6 million as of September 30, up 1.6 million sequentially. The company's first revenue-generating Starship mission delivered 26 Starlink V3 satellites.
Carriers raise guidance as T-Mobile, Verizon and AT&T report Q3 results
T-Mobile reported service revenues of $19.4 billion, up 6%, and net income of $3.5 billion, up 27%. Diluted EPS was $3.22, up 34%. It raised midpoint guidance for Core Adjusted EBITDA to $37.35-$37.45 billion and for Adjusted Free Cash Flow to $18.7-$18.8 billion.
Verizon added 406,000 postpaid phones, its strongest third quarter in five years, and 314,000 broadband lines, split between 159,000 fixed wireless and 155,000 fiber. It raised 2026 guidance for the third consecutive quarter, to 1.1-1.2 million postpaid phone net additions, and signed an AWS agreement valued at $2.0+ billion for distributed AI compute.
AT&T reported revenue of $32.3 billion, up 5.3%, with 379,000 postpaid phone net adds and churn of 0.92%. It posted a record 769,000 Advanced Connectivity internet net adds, including 442,000 fiber and 327,000 fixed wireless. Net debt reached $149.8 billion after the EchoStar spectrum transaction closed. On October 13 AT&T agreed to sell its Mexico wireless business, booking a $2.6 billion non-cash impairment, and it lifted its 2026 adjusted EPS outlook to about $2.40.
Iridium reports $245.7 million revenue while Rocket Lab deal awaits regulators
Iridium's third-quarter revenue rose 8%. Net income was $106.9 million, or $0.98 per diluted share, driven mainly by a $103.9 million gain tied to its July 2 acquisition of Aireon. Billable subscribers rose 6% to 2,696,000. Stockholders approved Rocket Lab's pending acquisition of Iridium on September 24, with completion expected by mid-2027 pending regulatory approvals. Iridium's board plans to raise the quarterly dividend to $0.16 per share from the fourth quarter of 2026.