T-Mobile and other wireless carriers tumble on SpaceX’s purchase of spectrum licenses from EchoStarT-MobileTMUS $237.74 (0.23%) is the worst-performing S&P 500 constituent in early trading, off 5.2% as of 8:27 a.m. ET.
The reason why? SpaceX purchased a pair of spectrum licenses from EchoStarSATS $81.50 (0.03%) for roughly $17 billion, and as such, SpaceX might no longer need to rely as heavily on T-Mobile going forward.
In August 2022, T-Mobile and SpaceX announced a partnership in which the carrier would help SpaceX’s Starlink provide mobile connectivity from space. The first such satellites launched in January 2024, and T-Mobile ran an ad during the 2025 Super Bowl touting a beta trial of Starlink-powered satellite texting.