SpaceX acquires spectrum licenses, enters US mobile market; telco shares drop

SpaceX has acquired spectrum licenses and announced plans to combine Starlink satellite coverage with terrestrial infrastructure to offer national mobile service in the US, directly challenging incumbent carriers. Shares of AT&T, Verizon, and T-Mobile fell on the news, reflecting market concerns over a new competitive threat. The move marks a significant strategic expansion for SpaceX beyond satellite internet, though regulatory and technical hurdles remain.