Elon Musk’s SpaceX Wins FCC Approval to Launch 15,000 Starlink Mobile Satellites

Elon Musk’s SpaceX has secured Federal Communications Commission (FCC) approval to launch 15,000 Starlink Mobile satellites. The approval follows SpaceX’s intention to enter competition with AT&T, Verizon, and T-Mobile in the U.S. wireless industry.

FCC Approves 15,000 SpaceX Starlink Mobile Satellites

The FCC approved SpaceX’s application on October 6, allowing the company to deploy its next-generation direct-to-device satellite network. The authorization allows 15,000 satellites to be launched that will be able to link up with normal mobile phones rather than special equipment.

According to SpaceX, its next-generation V2 satellites will provide more than 100 times the bandwidth of existing Starlink Mobile satellites. The regulator also granted extra backhaul frequencies so that the new satellites can link to Starlink’s existing gateway network.

The satellites will be launched into nine orbital shells at altitudes of 326–335 km above the ground. The FCC, however, put on hold certain requests for spectrum and imposed restrictions on those being awarded. The move comes as private investment in satellite connectivity rises, such as SpaceX’s advance in AI infrastructure.

SpaceX Plans to Challenge AT&T, Verizon and T-Mobile

Alongside the FCC approval, SpaceX announced an agreement to acquire nationwide low-band spectrum licenses in the 800 MHz frequency range. The portfolio includes up to 14 megahertz of paired spectrum, although the transaction still requires final regulatory approval.

The new frequencies would allow Starlink Mobile signals to reach devices inside buildings and other areas with limited satellite coverage. SpaceX plans to combine this coverage with its existing 2 GHz spectrum and a terrestrial mobile network.

The announcement pressured established U.S. wireless companies, with AT&T, Verizon and T-Mobile shares falling around 7% during trading. SpaceX’s proposed network would offer another option for mobile connectivity, although deployment and commercial service timelines remain subject to development.

SPCX Stock Falls Despite Barclays’ $254 Price Target

At press time, SpaceX stock (SPCX) traded at $160.57, down about 4.18%, despite the company’s latest satellite and spectrum announcements. Shares moved between $160.20 and $167.92 during the session, reflecting continued volatility.

Meanwhile, Barclays initiated coverage with an Overweight rating and a $254 price target, representing approximately 58% upside from $160.57. Other Wall Street firms have also issued positive ratings, including Mizuho and Morgan Stanley.

Breaking his silence on the announcement, Elon Musk also discussed SpaceX’s longer-term valuation prospects on X following the company’s latest developments. He suggested the company could eventually reach a valuation several times larger than the current global economy.

“This will sound super crazy, but I see a path to SpaceX being worth orders of magnitude more than the current Earth economy”, he noted.