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SpaceX could be on the cusp of buying 80,000 cell towers in a bid to really challenge Verizon, AT&T and T-Mobile
Yahoo Finance • • business
Key Points:
- SpaceX is reportedly negotiating to purchase 80,000 cell sites across the US from major tower owners Crown Castle and American Tower, signaling a significant move into terrestrial wireless networks.
- The potential investment, alongside SpaceX's recent $30 billion spectrum acquisition, suggests a serious commitment to building a nationwide cellular network, which could challenge established telecom giants.
- Shares of major wireless carriers AT&T, Verizon, and T-Mobile declined sharply following news of SpaceX's expansion plans, reflecting investor concerns about increased competition.
- SpaceX's Starlink service, initially focused on rural broadband, is evolving towards becoming a direct mobile competitor, leveraging its spectrum assets and satellite technology to create a standalone cellular network.
- Analysts warn that while the full impact of Starlink Mobile may be years away, the anticipation and strategic moves by SpaceX are already affecting market sentiment in the wireless sector.
