SpaceX's Mobile Push Knocks AT&T and T-Mobile Shares

SpaceX said it plans to build land-based mobile services, Reuters reported. AT&T and T-Mobile shares fell 2.2%–4% on August 4, 2026. SpaceX acquired 65 MHz of U.S. spectrum and certain global mobile services in 2025, per its IPO roadshow — so the move into terrestrial telecom has been in the works. For mobile subscribers and telecom investors, a new competitor is now circling a market long dominated by incumbents.