SpaceX to Acquire Low-Band Spectrum Portfolio From Grain Management in Mobile Connectivity Push

06:50 AM EDT, 10/09/2026 (MT Newswires) -- SpaceX (SPCX) shares rose early Friday after the rocket and satellite company agreed to acquire a nationwide low-band spectrum portfolio from investment firm Grain Management as it seeks to establish Starlink Mobile as a major US mobile carrier. SpaceX will buy Grain Management's entire portfolio of up to 14 megahertz of paired spectrum in the 800 MHz band, the companies said in separate statements late Thursday. The deal is subject to the Federal Communications Commission's approval and other customary closing conditions. SpaceX's stock gained 3.7% in the most recent premarket activity. The companies did not disclose the financial terms, and neither immediately responded to MT Newswires' request for comment on the reported transaction value. SpaceX will pay about $8 billion in cash for the assets, The Wall Street Journal reported Thursday, citing people familiar with the matter. Grain Management, which specializes in digital infrastructure, acquired the 800 MHz spectrum portfolio from T-Mobile US (TMUS) in August in exchange for $2.9 billion in cash and all of Grain's 600 MHz spectrum licenses. "This prime low-band spectrum addresses one of the key remaining technical gaps that will pave the way for Starlink Mobile to become a major mobile carrier in the US," SpaceX said in its statement. Following regulatory approval, SpaceX intends to combine its satellite-to-mobile constellation in space with a terrestrial deployment that will enable Starlink Mobile's signals and services to reach customers from both the ground and space, according to the companies. SpaceX said most existing mobile devices already support the band. "Our spectrum expertise allows us to connect the strategic value of these assets with the technologies and operators that can realize their potential," Grain Management Chief Executive David Grain said in a separate statement. "This agreement with SpaceX brings that capability to bear at extraordinary scale." Shares of Verizon Communications (VZ), AT&T (T) and T-Mobile US fell sharply early Friday. Last week, the three companies formed a joint venture to boost mobile network services in underserved areas and eliminate "dead zones" in the US. AT&T and Corning (GLW) recently announced a multiyear agreement valued at more than $3 billion, under which the latter will provide fiber and cable needed for AT&T's network expansion. Meanwhile, SpaceX said the FCC approved Starlink Mobile's Gen2 constellation application this week, authorizing the company to launch 15,000 satellites that are optimized for 2 gigahertz spectrum around the world. "With this new low-band spectrum and our Gen2 constellation, Starlink Mobile can now become the first network operator to deploy both satellite and terrestrial spectrum," SpaceX said. SpaceX, which went public in June, reported a second-quarter loss in August that narrowed year over year, while revenue surged past Wall Street's expectations, driven by strong growth in the connectivity and artificial intelligence segments.