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After artificial intelligence (AI), Elon Musk's SpaceX (SPCX) is seeking to upend another established industry. On October 8, when the company announced that it had acquired 14 MHz of paired nationwide 800 MHz low-band spectrum from Grain Management for $8 billion, it sent shares of the existing carriers on a downward spiral.
After the announcement, AT&T (T) and Verizon (VZ) shares ended almost 10% lower the next day; SpaceX's partner, T-Mobile (TMUS), saw the sharpest drop, about 13%. Moreover, in T-Mobile's case, the bitter irony was that it had just sold that exact 800 MHz block to Grain Management on August 11, 2026, for $2.9 billion in cash plus 600 MHz licenses. On the other hand, Grain gained $5 billion in just a couple of months.
