Satellite Connectivity & Direct-to-Device

SpaceX has agreed to acquire Grain Management's nationwide portfolio of low-band wireless spectrum licenses, advancing the Elon Musk-led company's effort to compete with Verizon Communications Inc., AT&T Inc. and T-Mobile Us Inc. The agreement covers spectrum in the 800 MHz band and remains subject to approval by the Federal Communications Commission; SpaceX says the licenses will complement Starlink Mobile's existing satellite capabilities with terrestrial connectivity. The FCC has also authorized SpaceX to deploy 15,000 next-generation Starlink satellites optimized for mobile connectivity, and together the spectrum acquisition and satellite expansion move the company closer to offering a more comprehensive mobile service. Musk made his ambitious prediction in an Oct. 8 post on X, saying he sees a path to SpaceX being worth orders of magnitude more than the current Earth economy. Investors should watch for regulatory approval, launch timelines, pricing announcements and evidence of customer adoption, as the next test is whether SpaceX can persuade consumers to switch networks or pay less to stay connected.

U.S. space and artificial intelligence company SpaceX announced it will acquire licenses for the spectrum bands used for mobile phones. The company, which operates the satellite communications network service Starlink, stressed that it "will become the first network operator to deploy both satellite and ground-based networks." The acquisition it disclosed covers radio waves in the 800-megahertz band, which travel long distances and are hard to block with buildings or walls, part of a spectrum range known in Japan as the "platinum band." U.S. financial giant Morgan Stanley called the announcement a major step toward building a mobile communications network, and said that while the acquisition price was not disclosed, it "would not be surprised if it approached 8 billion dollars, or roughly 1.3 trillion yen." In the U.S. stock market on the 9th, shares of the three major U.S. telecom carriers plunged, while shares of tower companies that handle base station construction and other work were bought. Still, Morgan Stanley analyzed that the spectrum band is insufficient for expanding service to densely populated areas and that infrastructure development will also be necessary, and it believes "there is still a long road ahead to compete head-on with major telecom carriers."

Airbus has completed the first batch of 32 new OneWeb Low Earth Orbit satellites for Eutelsat, part of a broader program covering 669 planned satellites for the operator. The batch forms part of Eutelsat's LEO fleet renewal program aimed at supporting global satellite connectivity services, with Airbus acting as manufacturing partner for the next wave of OneWeb satellites and further launches already planned. Airbus, a €148.6b aerospace and defense group, uses its satellite manufacturing arm alongside its commercial aircraft and space systems operations to supply hardware that telecom operators such as Eutelsat rely on for global connectivity. The work lines up with Airbus Defence and Space's push to build a clearer second profit pillar alongside helicopters and commercial jets, with the company's industrial footprint in Toulouse supplying complex hardware for global connectivity. Investors will be watching upcoming Defence & Space disclosures around LEO constellation production throughput and margin trends in the 2026 and 2027 reporting periods.

SpaceX is closing in on a crucial swath of spectrum needed to turn the rocket, satellite and AI company into a "major mobile carrier," setting the stage for a clash with stalwarts like T-Mobile US Inc., Verizon Communications Inc. and AT&T Inc. Once the company receives approval from the Federal Communications Commission, it will combine its satellite-to-cell services with a terrestrial network that can connect devices everywhere. The development comes as SpaceX investors are finally getting some reprieve after months of being whipsawed by volatility, with the Elon Musk-led company's stock breaking above the level it's been stuck below since July.

AT&T secured court approval for a US$177 million settlement over a major customer data breach affecting millions of users, with a federal judge signing off on the agreement in early October 2026 and resolving multiple consolidated class action lawsuits. Separately, AT&T, Verizon and T-Mobile agreed to pool spectrum and share satellite access in a new US connectivity joint venture targeting coverage gaps. The US$177 million breach settlement and the multi-carrier satellite venture are reshaping AT&T's risk profile and network ambitions. The payment is sizeable yet small next to the US$167.7b telecom group, which is already spending heavily on fiber and 5G, and the bigger issue for investors is execution on the US$6b targeted copper cost reductions and the large network build. The satellite venture is aimed at filling dead zones that fiber and towers do not reach, while the GIP and CPP Investments fiber venture pushes deeper high speed access in 16 states. The clearest test ahead is whether AT&T closes the fiber JV in the first half of 2027 as planned and starts reporting its share of JV earnings without consolidating the results, alongside progress toward the more than 60 million fiber locations target by 2030.

SpaceX's $8B deal to buy a nationwide low-band spectrum portfolio from Grain Management for Starlink sparked a sudden selloff in major telecom stocks. T-Mobile US fell roughly 6% after hours following the Starlink Mobile announcement, yet it remains a top-rated Buy with a quant score of 4.42 out of 5, alongside ATN International at 4.70 and VEON Ltd. at 4.69. Domestic giants Verizon and AT&T both hold neutral Hold ratings, with quant scores of 3.48 and 3.45 respectively. Other Buy-rated names include Telecom Argentina at 4.48, Millicom International Cellular at 3.90, Orange at 3.73, Liberty Latin America at 3.72, América Móvil at 3.61, and KT Corporation at 3.54, while Anterix sits at Hold with a score of 3.48.

Yuanta Securities (Thailand) Company Limited stated that SpaceX has announced the acquisition of 800 MHz spectrum from Grain Management to expand its Starlink Mobile service into the terrestrial market, with the transaction still pending approval from the US Federal Communications Commission, or FCC. This move carries significance for the telecommunications industry, because Satellite Mobile services still have limitations in providing indoor coverage compared with the networks of mobile phone operators. Access to terrestrial spectrum could therefore help enhance Starlink Mobile's competitiveness in the long term. The market reacted negatively to the news, with shares of AT&T, T-Mobile and Verizon falling roughly 6–7% in after-hours trading, reflecting concerns that the entry of a new player could increase competitive pressure and affect the valuation levels of the telecommunications business. As for the impact on Thailand, Yuanta Securities assesses that in the short term it remains limited and does not yet affect the fundamentals of Advanced Info Service Public Company Limited, or ADVANC, and True Corporation Public Company Limited, or TRUE, because Starlink must still go through the relevant licensing procedures before it can provide services in Thailand, particularly obtaining Landing Rights for low Earth orbit, or LEO, satellite services. And if Starlink wants to expand its services into the Mobile business to compete directly with domestic operators through the use of terrestrial spectrum, it would still need to consider Thailand's licensing and spectrum allocation framework, or may have to join spectrum auctions opened by the National Broadcasting and Telecommunications Commission, which are not held frequently and represent a major obstacle to entering direct competition in the Thai market. However, Yuanta Securities views that the risk worth monitoring in the medium term lies in share valuation levels, or multiples, rather than the direct impact on operating results. Although at present the impact on the profits of Thai telecommunications operators is not yet clear, if overseas markets lower the valuation of telecommunications stocks out of concern over competition from Starlink Mobile, there is a chance that the multiples of ADVANC and TRUE will also be pressured in line with the group's sentiment. Therefore, Yuanta Securities assesses that the short-term risk to the earnings forecasts of ADVANC and TRUE remains limited, while in the medium term the valuation risk should be monitored, along with regulatory developments that could pave the way for Starlink to expand its services into the Thai market going forward.

West Texas crude futures for November delivery closed at 91.49 dollars per barrel, up 3.21 dollars, or 3.6%, while North Sea Brent crude futures for December delivery closed at 104.28 dollars per barrel, up 4.08 dollars, or 4.1%. Oil prices ended the session up about 4% after concerns about war in the Middle East flared up again and the risk of supply disruption rose sharply from Hurricane Isaias, which is moving toward the U.S. Gulf Coast. At one point during trading, both crude contracts rose by more than 5 dollars per barrel before pulling back after President Donald Trump said talks with Iran had made progress and confirmed he would not attack Iran until after the U.S. midterm elections on Nov. 3. Iran's Tasnim news agency reported that Iranian Foreign Minister Abbas Araghchi said Tehran is considering the U.S. response to Iran's proposal to open the Strait of Hormuz within 7 days, and that Iran may reply within a few days. Meanwhile, Elon Musk's SpaceX said it has acquired low-band spectrum, which will allow its Starlink satellites to offer mobile phone service and make it a major mobile network operator in the United States, sending shares of incumbent mobile carriers down by as much as 8%. AT&T fell 7.3%, while T-Mobile US and Verizon Communications dropped 6.6% as of 5:00 p.m. New York time, while SpaceX shares rose 1.5% in after-hours trading. Singapore bank shares came under heavier selling after JPMorgan Chase & Co. warned that surging long-term bond yields will hit regional banks' third-quarter profits, with DBS Group and Oversea-Chinese Banking Corp. falling more than 4%, while United Overseas Bank dropped 5.2%.

AST SpaceMobile and TELUS have completed their first integration test connecting TELUS' terrestrial wireless network with AST SpaceMobile's satellite based system for direct smartphone to satellite service in Canada. The milestone comes amid a volatile stretch for AST SpaceMobile shares, which fell 6.13% over the past day, 13.90% over the past month and 31.80% year to date, closing at $56.93. The most followed narrative pegs fair value at $170 per share, framing the selloff as a valuation question, with forecast revenue rising 51.9% per year and expectations that ASTS becomes profitable within three years. Set against a current market value of about $23.60b and a reported net loss of $618.761m on $115.299m of revenue, the bull case leans on future execution, while analysts hold an average price target of $77.94, 36.9% above the last close. The story can break if satellite deployment slips or if carrier partners delay turning trials into meaningful and recurring service revenue.

American Airlines Group plans to equip its entire mainline fleet with SpaceX's Starlink satellite internet service, expanding its high-speed connectivity initiative as major U.S. carriers race to offer premium inflight Wi-Fi. The expanded agreement will bring Starlink to more than 1,000 mainline aircraft, including Airbus narrowbodies as well as Boeing narrowbody and widebody jets, with installations scheduled to begin in early 2027. The move more than doubles the carrier's initial commitment from May, which previously targeted just over 500 Airbus jets. American's fleet will deploy Starlink's Performance Aero Terminal, which is engineered to deliver connection speeds of up to 1 gigabit per second per terminal. Management indicated that dependable, high-speed Wi-Fi remains a critical priority for passenger retention, while providing a foundation for future digital services. The partnership gives American scale in satellite connectivity as the carrier prepares to take delivery of more than 300 new aircraft in the coming years.

Gilat Satellite Networks said Thursday that its Gilat DataPath unit has received orders totaling more than $8M from the U.S. Department of War for field services and SATCOM system upgrades supporting deployed military communications systems. Deliveries under the orders are expected over the next 12 months. The company disclosed the award in a press release. The orders add to Gilat's recent U.S. defense work, which includes a prior win of over $32M for transportable U.S. defense communications systems.

Nokia Oyj has agreed a new partnership with Finnish satellite company ICEYE to build secure LEO broadband systems for governments. The collaboration targets sovereign and defense satellite communications services, focusing on secure, high-performance connectivity for public sector clients. Separately, Nokia is discontinuing its joint MoCA-based broadband offering with InCoax, citing limited market interest in that technology partnership. The ICEYE government LEO alliance and the MoCA exit capture only one part of how the group is reshaping its portfolio. Nokia Oyj is a €53.8b communications group that supplies mobile, fixed, and cloud network solutions across regions from North and Latin America to Asia and the Middle East. The clearest marker ahead will be whether Nokia and ICEYE convert the 2028 LEO launch plan into signed multi-year government contracts over the next 12 to 24 months.

Starlink's global consumer subscriber base reached an estimated 13.5 million exiting September, according to fresh Deutsche Bank data, with about 370,000 net subscriber additions during the month. North America led the mix with 5.5 million subscribers, or 41% of the total, adding 126,000 subs in the month, while Starlink's reach expanded to 205 countries from 200 in August, adding four countries in Africa and one in Asia. SpaceX's market cap now stands at 2.26 trillion, just shy of Taiwan Semiconductor at 2.5 trillion and Amazon at 2.76 trillion. SpaceX shares are up 64% from their August 3rd lows and have gained 16% in the past month alone, with about 80% of sell-side analysts rating the stock a buy or strong buy per Yahoo Finance Alpha space data. Morgan Stanley, Goldman Sachs and Evercore ISI have all issued bullish notes within the past two weeks, with Starlink at the heart of that analysis.

Verizon Communications, AT&T and T-Mobile have formed a new joint venture aimed at widening U.S. wireless coverage in underserved regions. The partnership targets the near elimination of domestic coverage gaps, focusing on rural communities and remote travel corridors, and also plans to strengthen emergency connectivity and support satellite and direct-to-device links for critical services. Verizon Communications, a telecom group valued at about $190.5b, already sells connectivity, technology and information services to consumers, enterprises and governments, so the venture fits directly into its core role supplying critical communications infrastructure worldwide. The move extends Verizon's existing 5G and satellite work into rural areas and transport routes, which can support fixed wireless access, private networks and backup links for business customers. Investors will be watching how the joint venture shows up in Verizon's disclosed 5G and satellite rollout milestones across rural and remote regions, including any quantified coverage targets or customer adoption metrics tied to the May spectrum pooling plan, as well as progress tied to the planned Fourth Quarter 2026 timing for SKYBOXE's Verizon Business powered offerings.

Gilat Satellite Networks Ltd. announced it has secured over $10 million in additional orders from a leading satellite operator for its multi-orbit SkyEdge IV platform, with deliveries scheduled over the next 12 months. The orders underscore continued customer investment in SkyEdge IV and support the growth of high-capacity satellite networks serving applications including In-Flight Connectivity. Ron Levin, President of Gilat Commercial Division, said the orders reaffirm the value of the SkyEdge IV platform and the confidence customers place in Gilat's technology. The company said the orders highlight continued adoption of the platform by leading satellite operators as they expand existing services and introduce new capabilities.

Space Exploration Technologies completed Starship Flight 14 to low Earth orbit, deploying a batch of Starlink satellites. The company is in advanced talks with TSMC on an exclusive manufacturing arrangement for custom AI-focused semiconductor chips. Starlink also signed a new Direct to Cell partnership with Beeline Kazakhstan to extend satellite connectivity to standard mobile phones. The company, a US-based telecom player with a market cap of $2.3 trillion, faces an FAA review and has less than 1 year of cash runway. The Starship flight, the TSMC chip discussions and the Beeline Direct to Cell deal only show part of the SpaceX story.

WISeQey Corp., formerly WISeKey International Holding AG, began trading on Nasdaq and SIX today under the new symbol WQEY following its redomiciliation from Switzerland to the British Virgin Islands. The company also congratulated its subsidiary WISeSat.Space Holdings Corp., now listed on Nasdaq as SAIQ, which closed a $10 million private investment in public equity on October 1, 2026, from SEALSQ Corp, a fellow WISeQey subsidiary. The purchase price was $10.79 per share, equal to the redemption price from the business combination, and the subscription agreement includes a price-protection mechanism that may trigger additional share issuance to SEALSQ if the volume-weighted average price over the 10 consecutive trading days ending on the 60th calendar day after closing falls below the purchase price, subject to a $5.00 floor. The PIPE capital is intended to fund WISeSat.Space's satellite infrastructure expansion and the integration of post-quantum cryptography into its satellites, ground and user-segment architectures, while SEALSQ plans to use WISeSat.Space satellite capacity to deliver quantum and post-quantum services. Carlos Moreira serves as CEO of WISeQey, WISeSat.Space and SEALSQ, making the PIPE investment and planned collaboration related party transactions.

WISeSat.Space Holdings Corp. shares surged as much as 500% in Monday premarket trading after the company completed its previously announced reverse SPAC merger with Columbus Acquisition Corp. on October 1, 2026. The subsidiary of WISeQey Corp. began trading its ordinary shares on Nasdaq under the ticker SAIQ on October 2, 2026. Founder, chairman and CEO Carlos Moreira is scheduled to ring the Nasdaq Opening Bell on October 9, 2026, at Nasdaq MarketSite in Times Square. The listing supports WISeSat.Space's plans to expand secure satellite connectivity, drawing on WISeQey's expertise in cybersecurity, digital identity and secure semiconductors to connect IoT devices beyond terrestrial networks. SAIQ was up 308.63% at $7.55 in premarket trading on Monday, hitting a new 52-week high.

Gilat Satellite Networks said its Peruvian subsidiary, Gilat Perú, has signed a $28 million agreement with Pronatel, Peru's national telecommunications program, to upgrade broadband connectivity across the Ica region. Construction on the project is expected to be completed by mid-year 2027, after which a seven-year operational phase will follow. The award expands Gilat's footprint in Peru's regional connectivity buildout.

Viasat Inc., through its subsidiary Inmarsat Government, Inc., was awarded the U.S. Space Force's MECS2 contract in September 2026, securing an initial US$42 million task order under a seven-year Indefinite Delivery/Indefinite Quantity agreement with a ceiling of up to US$307 million to provide fully managed global SATCOM services for the U.S. Marine Corps. The award deepens Viasat's role in secure, multi-orbit government communications and highlights the importance of its ViaSat-3-enabled Ka-band network and 24x7 managed services capabilities. The company's narrative projects $5.5 billion revenue and $626.3 million earnings by 2029, with forecasts yielding a $103.94 fair value, a 44% upside to its current price. Some of the lowest ranked analysts were far more cautious, assuming only about 3.9 percent annual revenue growth and continued losses. The MECS2 award looks incrementally positive for the investment thesis, reinforcing defense demand and multi-orbit capabilities, but it does not by itself resolve near term pressure from high ViaSat-3 and Inmarsat capex or the risk that broadband subscriber declines keep weighing on revenue quality.

SpaceX shares have stabilized after notching an all-time low of $104.83 in early August, with the company citing fresh catalysts that could drive the stock higher into year-end and into 2027. Starship, SpaceX's two-stage rocket and the largest human-made flying object, recently reached orbit for the first time, and the recent flight deployed the first 26 next-generation Starlink V3 satellites. Anthropic expanded its computing agreements with SpaceX, committing up to $84.5 billion through May 2029 for NVIDIA-based AI infrastructure, while Zacks Consensus Estimates suggest SpaceX will grow revenue by 147% in 2027. The odds of a SpaceX and Tesla merger by the end of next year have spiked to 63% on Polymarket. The company also pointed to Planet Labs and Google's launch of the first AI satellite as proof of concept for its ambitions in space-based AI data centers.

MoffettNathanson analyst Craig Moffett said Tuesday that SpaceX's Starlink is becoming a more credible competitor to terrestrial broadband providers, particularly in rural and lower-density markets, as the service begins deploying higher-capacity V3 satellites. Moffett told CNBC that Starlink poses a much greater competitive challenge to Comcast Corp. and Charter Communications Inc. than to traditional wireless carriers such as AT&T Inc. and Verizon Communications Inc., saying the terrestrial broadband business where they deliver ISP service is a very credible product that already is having a significant impact. SpaceX's first Starship orbital flight deployed 26 V3 Starlink satellites, which Moffett said carry substantially more capacity and should improve the service, though he expects it will be after 2030 before most of the Starlink constellation consists of V3 satellites. Even with V3 satellites, he does not expect Starlink to match the speeds offered by terrestrial fiber or cable broadband, leaving pricing and customer segmentation as major competitive factors, with Starlink potentially competing more effectively for value-oriented customers. Moffett compared the challenge with the pressure Comcast and Charter already face from fixed wireless access, noting the cable operators have responded by bundling broadband with wireless services, a strategy he said has proven relatively successful.

AT&T, T-Mobile and Verizon have entered into a joint venture agreement aimed at expanding satellite-enabled coverage in underserved areas across the U.S., following a May announcement that the three carriers would pool limited spectrum resources to help eliminate coverage dead zones. Paul Roth, a wireless industry veteran who previously held leadership roles at AT&T, Cingular Wireless and Ameritech, will serve as interim CEO while a search for a permanent chief executive is underway, and the venture will be managed by a board with representatives from each founding member. The JV is designed to complement terrestrial mobile networks rather than replace them, with the goal of nearly eliminating dead zones currently without mobile service, providing redundant connectivity during natural disasters, and improving direct-to-device access as a first step. The partners said the venture will support industry competition and innovation, work with rural mobile network operators, and pursue a standards-based approach to device compatibility, while existing carrier-satellite agreements remain in place and the three companies can continue connectivity efforts independently.

L3Harris Technologies has won a $461.9M firm-fixed-price contract to provide commercial satellite communications connectivity for designated executive airlift aircraft. The contract supports authorized government personnel, with work expected to continue through October 2028. A total of $62.3M in FY2026 operations and maintenance funds is being obligated at award. The U.S. Space Force at Los Angeles Air Force Base is the contracting activity.

TD Cowen initiated coverage of SpaceX with a Buy rating and a $200 price target, telling investors that leasing AI computing power will drive near-term growth. Analyst John Blackledge wrote that the ground-based AI computing business, whose customers include Google and Anthropic, should become SpaceX's fastest-growing revenue stream and its largest by the first quarter of 2027. TD Cowen estimates AI Compute leasing revenue of $14 billion in 2026, or 35% of total SpaceX revenue, rising to $66 billion in 2027, about 58% of the total, and $133 billion in 2028, roughly 65% of the total, contributing more than 70% of total incremental revenue in 2027 and 2028. The firm forecasts ground-based capacity will rise from 2.1 gigawatts this year to 6.0 gigawatts in 2027 and 22 gigawatts by 2031, and models 62% annual revenue growth from 2026 to 2031 with $297 billion in EBITDA in 2031. On Starlink, TD Cowen expects 107 million consumer subscribers by 2031, including 10 million in the U.S., and Blackledge said no other entity will be able to match SpaceX's low Earth orbit upmass capacity, perhaps for a decade, with launches expected to reach nearly 1,000 a year by 2031.

weBoost, part of Wilson Connectivity, announced weBoost Sky, which it calls the world's first vehicle signal booster engineered to strengthen satellite direct-to-device connectivity. The patent-pending system mounts an exterior antenna on a vehicle and amplifies a phone's 200 milliwatt uplink to 1 watt, the FCC ceiling, a fivefold increase in transmission power, then rebroadcasts the amplified signal inside the cabin through an interior antenna. In Wilson Connectivity field testing outside St. George, Utah, Sky improved RSRP from -116 dBm to -96 dBm and lifted SNR from 1-6 dB to 11 dB, turning an unreliable T-Satellite connection into a dependable one for messaging, location sharing and supported data applications. The same hardware amplifies T-Mobile Band 25 for T-Satellite D2D connectivity and supported terrestrial cellular signal, draws less than 5W over USB-C and installs without drilling or vehicle modification. weBoost Sky, SKU 471086, goes on sale beginning September 28, 2026 at weBoost.com and through select retailers and dealers at an MSRP of $149.99 USD, backed by a two-year manufacturer's warranty and a 30-day money-back guarantee.

Elon Musk's net worth ended the week at $925 billion, up more than $305 billion since January, as his path to trillionaire status stalled amid fading momentum at Tesla and SpaceX. Tesla will unveil the long-delayed Roadster, with the base model starting at around $200,000 and the Founders Series at $250,000, limited to 1,000 vehicles, while traders on Polymarket expect third-quarter deliveries of between 450k and 475k vehicles after 480k in the second quarter. SpaceX is set for its first orbital launch on Monday, a test that will carry the third version of Starlink to space; Starlink made over $4.29 billion in the second quarter, accounting for 53% of SpaceX revenue, and analysts expect total revenue to jump to $44 billion this year and $108.3 billion next year. Most of Musk's wealth comes from his 48.5% stake in SpaceX and about 20.3% of Tesla, plus large holdings in Neuralink and The Boring Company.