Telecommunication Services

AT&T has extended its contract with the Dallas Cowboys to power AT&T Stadium's mobile network and fan connectivity, keeping the company's name on the stadium. The company will also debut new stadium technology during the 2026 season, including fan experiences, mixed reality, and AI-powered moments. AT&T Stadium will now be equipped with AT&T Turbo, giving every fan, including customers of other carriers, high-priority network access to post and stream during the game, along with Starbase Connection, which transforms fan-submitted photos into custom Cowboys hype videos across stadium boards. Fans can also "Pose with the Pros" using augmented reality and put themselves in mixed reality catch-and-compete moments with the players. AT&T Stadium currently boasts one of the largest networks in the U.S. with more than 261 miles of fiber and close to 1,000 antennas throughout the stadium. AT&T has been a corporate sponsor of the Dallas Cowboys since 1996 and obtained stadium naming rights in 2013.

AT&T and the Dallas Cowboys announced an agreement to extend their partnership and continue powering the technology and fan experiences at AT&T Stadium. The deal keeps the AT&T name on the building and gives the two a platform to build faster, smarter and more immersive game-day experiences. AT&T Stadium relies on more than 261 miles of fiber and nearly 1,000 antennas throughout the venue, which the companies describe as the largest network of its kind in the country, to serve crowds of more than 100,000 people. For the 2026 season, AT&T is debuting new stadium technology including AT&T Stadium Wayfinding navigation, an expanded AR photo experience called Pose with the Pros, a mixed reality catch-and-compete moment with Dak Prescott, the AI-powered Starbase Connection feature, and AT&T Turbo Live high-priority network access available to fans of all carriers. Dallas Cowboys Owner, President and General Manager Jerry Jones said AT&T has been at the core of the fan experience and the technology foundation driving operations for 30 years, and AT&T Chairman and Chief Executive Officer John Stankey said the Cowboys will continue to innovate on behalf of fans.

AIS will open first-day sales of the iPhone 18 Pro and iPhone 18 Pro Max on 18 September 2026, alongside the launch of its Turn Sabai campaign, which lets customers pay 0 baht by combining the value of their old device without any condition-based appraisal, added value from AIS, package discounts, and other benefits into a single package of savings. For AIS monthly customers with at least one year of usage who open a new number or port in with a 5G VIP Ultra package priced at 1,699 to 2,999 baht per month on a 24-month contract, they will receive Serenade Gold or Platinum status and a free choice of an auspicious number from 0000 to 9999, plus AIS PLAY Premium Plus and Reel Short free for 24 months. Under other promotions, customers can receive a discount of up to 25,000 baht on the handset when buying a device with a new package starting at 699 baht, or up to 17,300 baht when buying a handset outright without a contract. Trading in a specified older model adds a further discount of up to 5,300 baht, and AIS Serenade customers can use AIS Points to redeem an additional discount of up to 12,000 baht, while general customers can redeem up to 5,000 baht. AIS stated that it is the first and only operator in Southeast Asia to activate carrier aggregation of more than one 5G SA band simultaneously on both the downlink and uplink, through Downlink 3CC and Uplink 2CC, with support for VoNR. In addition, customers with a CLICX account can receive a walk-in queue voucher to buy the iPhone 18 Pro, iPhone 18 Pro Max, and iPhone 17 Pro Max, covering 2,000 units, from 17 to 24 September 2026.

AIS will begin delivering the iPhone 18 Pro and iPhone 18 Pro Max to customers on September 18, 2026, through AIS SIAM, AIS Shop and dealers nationwide. Prapat Siangchan, head of the retail business executive committee at Advanced Info Service Public Company Limited, or ADVANC, said the company is pressing ahead with its strategy of linking Device, Network and Service under three main pillars: Value, Infrastructure/Network and Personalized Convenience. On Value, the company launched the "Trade-in Easy, Pay 0 Baht" campaign, which combines the value of the old device with package benefits, discounts and additional discounts from AIS to reduce the burden of the new handset under specified conditions. For monthly subscribers who have been active for one year or more, as well as customers opening a new number or porting in, they can sign up for the 5G VIP Ultra package priced at 1,699 to 2,999 baht per month with a 24-month service contract to receive Network Priority privileges and Serenade Gold or Platinum benefits. Meanwhile, a handset discount promotion of up to 25,000 baht applies when buying together with a new package, along with discounts for standalone handsets, trade-ins of old devices and the use of AIS Points, with conditions varying by customer type and promotional item. On the network side, the new iPhone models support a 5G-Advanced network that aggregates more than one wave on a 5G SA system simultaneously for both data reception and transmission, through Downlink 3CC and Uplink 2CC, and also support VoNR. On the service side, the AIS Pro team handles everything from evaluating the old device and preparing the new one to data migration and setup, while bringing in AI Assistance to help staff recommend offers that match each customer's needs. AIS believes its iPhone customer base shows strong brand loyalty and upgrades devices continuously, so it aims to use a trade-in strategy alongside 5G packages and after-sales service to spur device upgrades among existing customers.

The Supreme Administrative Court has ruled to dismiss a case brought against Digital Phone Company Limited, or DPC, a subsidiary of Advanced Info Service Public Company Limited, or ADVANC, in case number 1651/2558, in which National Telecom Public Company Limited, or NT, sought compensation for the use of telecommunications equipment and networks. As a result, DPC will not have to pay 1.223 billion baht. The ruling is final. This case is one of three that NT filed against the National Broadcasting and Telecommunications Commission and DPC in the Central Administrative Court starting in 2015, seeking compensation for the temporary consumer protection period after the expiry of the 1800 MHz spectrum concession, covering 16 September 2014 to 25 November 2015. The total amount claimed from DPC across all three cases was more than 3.202 billion baht, plus interest of 7.5 percent per year. In 2022, the Central Administrative Court dismissed all three cases against DPC, and NT appealed to the Supreme Administrative Court. The remaining two cases, case numbers 918/2558 and 741/2559, with a combined disputed amount of approximately 1.979 billion baht, are still under consideration by the Supreme Administrative Court.

Advanced Info Service Public Company Limited, or ADVANC, announced that the Supreme Administrative Court issued a ruling on 17 September 2026 dismissing the case against Digital Phone Company Limited, or DPC, a subsidiary of ADVANC, in case number 1651/2558, in which National Telecom Public Company Limited, or NT, sued to claim payment for telecommunications equipment and network usage. As a result, DPC is not required to pay 1.223 billion baht, and the case is now final. Meanwhile, two other cases, case numbers 918/2558 and 741/2559, which are the remaining parts of the same group of cases with a combined value of 1.979 billion baht, are still under consideration by the Supreme Administrative Court. ADVANC will report further significant developments.

The Supreme Administrative Court has ruled to dismiss the case against Digital Phone Company Limited, or DPC, a subsidiary of Advanced Info Service Public Company Limited, or ADVANC, in a dispute with National Telecom Public Company Limited, or NT, over charges for telecommunications equipment and network usage during the temporary protection period after the concession ended. As a result, DPC will not have to pay 1.223 billion baht. This case, docket number 1651/2558, is now final. DPC's disputes total three cases with a combined value of 3.202 billion baht plus interest at 7.5% per year. The other two cases, docket numbers 918/2558 and 741/2559, with a combined value of 1.979 billion baht, remain under consideration by the Supreme Administrative Court. Kasikorn Securities sees the ruling as positive momentum for ADVANC and notes that the recent sharp decline in the share price has brought its valuation back to a more attractive level, supporting a dividend yield of 4.8%, with a target price of 385.34 baht.

Interlink Telecom Public Company Limited, or ITEL, disclosed that the National Broadcasting and Telecommunications Commission, or NBTC, has announced the lowest bidders for the high-speed internet procurement project in remote areas, Phase 3, or USO3. ITEL, together with partners, secured a total of three contracts: two contracts jointly with Thaicom and one contract with TKC covering the southern region. The project value attributable to ITEL alone is about 1.7 billion baht, with clarity on contract signing expected in the fourth quarter of 2026. The total contract value of the entire USO3 project stands at 5.42 billion baht, covering five regions nationwide. Following this award, the company's work in hand, or backlog, rises from about 2.2 billion baht to 3.9 billion baht. The project execution period is roughly five years, and revenue is expected to be gradually recognized through 2031. As for the outlook for the second half of 2026, the company expects continued growth from the first half, in which it already recorded revenue of about 1.36 billion baht. For the full year 2026, the company maintains its total revenue target at approximately 3.6 billion baht, up from about 2.86 billion baht last year. On the analyst side, Krungsri Securities Public Company Limited recommends buying ITEL shares with a target price of 2.00 baht, expecting revenue recognition to begin in the fourth quarter of 2026 and to help support a return to stronger profit growth in 2027.

AT&T has introduced Cricket 5G Home Internet, extending fixed wireless broadband over its existing 5G network for Cricket Wireless customers, and has partnered with LifeMD to give eligible AT&T subscribers free virtual healthcare visits and related telehealth services. The two moves widen AT&T's bundled connectivity offer by adding home broadband and healthcare benefits to its consumer plans, with the LifeMD benefits available to more than 100 million eligible customers. AT&T operates as a large US telecom provider with a market value of about $183.1b, and the company must fund the new perks while still managing heavy 5G and fiber spending and legacy revenue pressure. Analysts' forecasts assume 2.5% annual growth and a 13.4% margin, and the key commercial question is how many Cricket users bundle mobile and home service and what that does to churn. Investors will watch subscriber metrics over the next few quarters, especially Cricket 5G Home Internet adoption, uptake of LifeMD benefits, bundle penetration, fiber plus wireless households, and any disclosure on healthcare-driven engagement or reduced churn tied to AT&T's &More program.

IQSTEL Inc. outlined the potential economics of its mobile-first microdrama distribution initiative through IQSTEL Digital, modeling an illustrative $14.4 million to $21.6 million in annualized consumer billings at 300,000 active paid monthly subscriptions. Under the contemplated commercial model, consumers would pay approximately $4 to $6 per active monthly microdrama subscription, with total subscription revenue shared among the participating mobile operator, content partner and IQSTEL. IQSTEL Digital estimates each active paid monthly subscription could contribute approximately $0.50 to $1.00 per month in profit contribution attributable to IQSTEL Digital, which at 300,000 subscriptions would equal roughly $150,000 to $300,000 monthly, or an annualized $1.8 million to $3.6 million. The company said the 300,000 figure represents 60% of the 500,000 gross paying subscriptions it has illustratively targeted by the end of 2027, itself based on an assumed 1.25% penetration of a potential audience of approximately 40 million mobile users across targeted operators by the end of the second quarter of 2027. IQSTEL Digital also created an original microdrama demo to explain the format and its carrier-billing monetization model, and said the initiative is led by IQSTEL Digital CEO Jorge Becerra, while President and CEO Leandro Iglesias described the objective as converting existing telecom relationships into recurring, high-margin digital revenue.

Reaves Long Term Value Wrap Strategy reported a 10.55% gain in the second quarter of 2026, outperforming the MSCI USA Infrastructure Index, which fell 6.31%, while cash distributions rose 6.7% from the second quarter of 2025. In its quarterly investor letter, the strategy singled out T-Mobile US as a detractor, citing renewed concerns about competitive intensity in US wireless. The letter said new pricing plans at Verizon and AT&T narrowed T-Mobile's premium gap at retail, while satellite headline risk reached feverish levels around the much-anticipated SpaceX IPO, and it added that it believes Starlink lacks the assets to be disruptive to wireless in the near term but acknowledged the overhang may persist. Rumors that parent company Deutsche Telekom may be interested in consolidating the T-Mobile minority shareholders also pressured the stock, according to the letter. T-Mobile closed at $176.26 per share on September 16, 2026, down 4.90% over the past month and 27.84% over the past year, with a market capitalization of $184.95 billion and a 52-week range of $165.66 to $242.37. The letter also noted that 85 hedge fund portfolios held T-Mobile at the end of the second quarter, unchanged from the previous quarter.

The Supreme Administrative Court has ruled to dismiss the case brought against Digital Phone Company Limited, or DPC, a subsidiary of Advanced Info Service Public Company Limited, or ADVANC, in case number 1651/2558, meaning DPC will not have to pay 1.223 billion baht to National Telecom Public Company Limited, or NT. The case is now final under the Supreme Administrative Court's ruling. This was one of three cases NT filed against the NBTC and DPC with the Central Administrative Court in 2015, seeking payment for telecommunications equipment and network usage during the temporary protection period under an NBTC announcement after the expiry of the 1800MHz spectrum concession, covering the period from 16 September 2014 to 25 November 2015. The claims against DPC totalled 3.202 billion baht plus interest of 7.5 percent per year. In 2022, the Central Administrative Court dismissed all three cases against DPC, prompting NT to appeal to the Supreme Administrative Court. The two remaining cases, case numbers 918/2558 and 741/2559, with combined claims of 1.979 billion baht, are currently still under consideration by the Supreme Administrative Court. ADVANC will inform investors of any significant developments.

True Corporation has teamed up with the Tourism Authority of Thailand to give away 10,000 True dtac Tourist SIMs to Chinese tourists arriving in Thailand, with instant connectivity from their very first step at four major airports: Suvarnabhumi, Don Mueang, Phuket and Chiang Mai, throughout NiHao Month 2026. The partnership also joins hands with TAKABB, or Five Centipedes, to pass on Thai charm through gifts from Thai brands familiar to Chinese tourists. Ms. Rasika Sathiranawin, head of the tourist and immigration customer group at True Corporation, said Golden Week is a key period when Chinese tourists travel to Thailand, so True wants to create a good experience from the very first step. Mr. Oramon Kaensaksiri, sales and marketing director at Five Centipedes (Sim Tien Hoe) Co., Ltd., said the Five Centipedes brand products are a popular souvenir that Chinese tourists have trusted for a long time. To claim the offer, tourists holding Chinese passports who sign up for the Tourist INFINITE add-on package worth 450 baht or more will receive free Five Centipedes products, either Five Centipedes brand inhalers worth 25 baht or Five Centipedes brand cough spray worth 90 baht, from now until 31 October 2026, or while stocks last, only at True and dtac shops at the four airports.

A steep 5.9% jump in Americans' wireless bills from July to August, the largest single-month increase since the Bureau of Labor Statistics began tracking the category nearly two decades ago, helped persuade the Federal Reserve to raise interest rates for the first time in three years. The surge followed T-Mobile's late-July decision to retire over 1,000 older plans, shifting customers to newer offerings at an added cost of as much as $6 per line per month, and AT&T's Aug. 5 rate hikes of $10 to $20 on some older plans plus a $1 increase in a monthly per-line fee. Wall Street analysts estimate the category contributed about 10 basis points of August's 0.3% month-over-month rise in core consumer prices, cementing expectations for the Fed's 25 basis-point hike on Wednesday. Carrier spending on new sites and expanded network capacity topped $30 billion last year, according to the industry trade group CTIA, while taxes, fees, and government surcharges reached a record 27.6% of the average wireless bill, per the Tax Foundation. Bank of America strategists called the August CPI jump in phone service a one-off tied to AT&T's changes, though cheaper options from mobile virtual network operators like Spectrum Mobile and Boost Mobile remain available for consumers willing to shop around.

AIS PLAY has announced its readiness to broadcast the 20th Asian Games, Aichi-Nagoya 2026, from Japan, as the sole holder of live broadcast rights on OTT and online platforms in Thailand, from September 19 to October 4, 2026, offering a full 18 channels of live signal. These comprise three Thai-commentary channels, Asian Games 901–903, covering competitions involving Thai national athletes and sports of interest to Thai viewers such as football, volleyball, athletics, and badminton; 14 more channels, Asian Games 904–917, receiving the live signal sent from Nagoya; and one special channel, Asian Games 918, for esports competitions. Ms. Rungthip Jarusiripipat, Head of Entertainment Business at AIS, said that AIS PLAY intends to serve as a channel connecting Thais so they can be part of this major event more than ever. The opening ceremony will be held on September 19, 2026, at Paloma Mizuho Stadium under the theme Harmonic Heart Beat, with Yukihiko Tsutsumi as creative director, and will be broadcast live on AIS PLAY from 4:00 p.m. onwards. At the same time, AIS is also turning AIS SIAM into a rallying point for cheering the Thai team, with LED screens both outside and inside the building showing key matches. As for the PLAY ALL package, AIS customers can subscribe monthly for 199 baht, down from the usual 299 baht, excluding VAT, by dialing *898. Customers on other networks can subscribe for 299 baht, excluding VAT.

SpaceX is aiming for September 22nd for its Starship Flight 14, which will mark the vehicle's first attempt to reach full orbit. SpaceX CEO Elon Musk said during a virtual appearance at the All-In Summit that Flight 14 will be the last before the company attempts to catch the ship, with that catch attempt planned for Flight 15, and that SpaceX will more likely re-fly both the ship and the booster early next year. Starship is designed to be fully and rapidly reusable, with a payload capacity of 200 metric tons and an expected cost of between $2 and $5 million per flight, compared with roughly $20 million per flight for the partially reusable Falcon 9. Ark Invest's Cathie Wood predicted each Starship launch could generate $1 billion in revenue, with Musk aiming for 10,000 flights per year, or $10 trillion in Starship revenues, by 2030, and said that if SpaceX achieves this goal its $1.75 trillion IPO will be considered a deep value opportunity in hindsight. Musk replied to the thread saying, "It's not impossible."

PROEN Corp Public Company Limited, or PROEN, informed the Stock Exchange of Thailand that its first extraordinary general meeting of shareholders for 2026, held on September 16, 2026, approved a general mandate capital increase and the allocation of newly issued ordinary shares to existing shareholders in proportion to their holdings, or a rights offering. The company will issue and offer no more than 98,142,017 new ordinary shares with a par value of 0.50 baht each, at an allocation ratio of 4 existing ordinary shares to 1 new ordinary share, at an offering price of 0.84 baht per share, representing total fundraising of no more than 82,439,294.28 baht. The company has set September 25, 2026 as the record date for shareholders entitled to subscribe to the new shares, and the subscription and payment period will run from October 19 to 22 and on October 26, 2026, a total of 5 business days, from 09:00 to 15:30. The funds raised from the capital increase, amounting to no more than 82.44 million baht, will be used as capital for investment in and development of the data center business, to provide data storage and management services, as well as to develop solutions and software supporting services to both public and private sector customers in the future. The company expects to use the funds within 2027.

Nigerian Communications Satellite Limited, known as NIGCOMSAT, has selected EchoStar's Hughes JUPITER scalable gateway system to support its NIGCOMSAT-2A and 2B satellites. Ground network preparation and deployment are scheduled to begin in 2026, ahead of planned satellite launches in 2028 and 2029. The long-term contract underscores EchoStar's expanding role in providing secure, high-capacity satellite connectivity across Africa and reinforces its position in next-generation, infrastructure-level communications projects. The win adds evidence of international demand for EchoStar's infrastructure, though the company's near-term picture remains focused on execution on new networks against a stressed balance sheet and large upcoming maturities. EchoStar's enlarged US$5,000 million buyback authorization stands out as its most relevant recent announcement, sitting alongside high leverage and negative free cash flow. EchoStar's narrative projects $13.2 billion in revenue and $775.8 million in earnings by 2029, assuming revenue declines of 3.4% per year and an earnings increase of about $6.5 billion from -$5.7 billion today, with a $128.43 fair value estimate implying 39% upside.

SpaceX stock rose about 5% on Tuesday as investors weighed two potential catalysts. On Monday, SpaceX said on X that it would fly the 14th test mission of its Starship spacecraft on Sept. 22 from its Starbase facility in South Texas, its first flight attempt since a positive flight in August. The company said the mission, if successful, will deploy new Starlink satellites and test enhancements to both Starship and its booster, and CEO Elon Musk hinted SpaceX may try to catch Starship at its launch site with the Mechazilla arms. Earlier Tuesday, SpaceX investor Ron Baron told CNBC he thinks Starlink alone could be a trillion dollars in revenue in 10 years, with 700 billion to 800 billion dollars of EBITDA supporting a 14 trillion to 15 trillion dollar valuation. Musk also said at the All-In Summit that it was a great question whether Tesla and SpaceX would remain separate given their close collaboration, reviving talk of a possible merger between the two companies.

SpaceX is aiming for September 22nd for its Starship Flight 14, which will mark the vehicle's first attempt to reach full orbit and the last flight before the company attempts to catch the ship. CEO Elon Musk said during a virtual appearance at the All-In Summit that if Flight 14 goes well, SpaceX will try to catch the ship on Flight 15, and that later this year, but more likely early next year, the company will re-fly both the ship and the booster. Starship is designed as the first full and rapid reusable rocket ship, with a payload capacity of 200 metric tons and an expected cost of between $2 and $5 million per flight, compared with roughly $20 million per flight for the partially reusable Falcon 9. Ark Invest's Cathie Wood predicted each Starship launch could generate $1 billion in revenue, with Musk aiming for 10,000 flights per year, or $10 trillion in Starship revenues, by 2030, and said that if SpaceX achieves this goal its $1.75 trillion IPO will be considered a deep value opportunity in hindsight. Musk replied to the thread saying, "It's not impossible."

Cathie Wood says SpaceX had no need for public markets until Elon Musk's push into orbital AI data centers forced it to raise outside capital. The ARK Invest CEO told Livewire she never thought SpaceX would go public, but that Musk now needs the scaling the public equity markets provide. SpaceX's Connectivity business, primarily Starlink, generated $4.42 billion in operating income in 2025, while its AI business lost $6.36 billion, and the equation shifted further when SpaceX acquired Musk's xAI in February. SpaceX raised about $85.7 billion in its June IPO and told investors the proceeds would help fund AI compute infrastructure alongside launch systems and satellite capacity, with AI capital spending reaching $15.83 billion in the second quarter, about 86% of total quarterly capex, according to company filings. SpaceX argues orbital computing could sidestep constraints on terrestrial data centers such as electricity, land, cooling water and permitting by tapping solar energy in orbit, though Microsoft's Project Natick showed a technically successful underwater data center that was never scaled commercially, and Kalshi puts the chance of a 1-megawatt orbital data center going live before 2031 at 30%, with $46,000 traded on the market. Musk said he is highly confident SpaceX will launch AI computers from Nvidia into orbit in 2027, with significant scale expected in 2028.

SpaceX shares rose 5.1% to $151 in mid-morning trading Wednesday, pushing the stock back above the $150 level it first reached when it began trading June 12 following an IPO priced at $135. The catalyst was fresh policy news: U.S. defense officials confirmed on-orbit space-control weapons and highlighted progress on the Golden Dome interceptor program, tied to multibillion-dollar SpaceX contracts awarded earlier this year, pointing investors toward Starshield, SpaceX's national security satellite business, which already holds more than $6 billion in multi-year Space Force contracts for LEO-based communications and sensing. The Pentagon's FY 2027 budget request carries a $17.9 billion Golden Dome line item covering advanced space-based and terrestrial sensors, command and control, kinetic interceptors, and next-generation non-kinetic programs, and SpaceX is the only operator with a proliferated LEO constellation at production scale. The fundamental backdrop supports the move: the August 4 8-K showed Q2 revenue of $7.81 billion, beating the $6.82 billion consensus by 15%, with EPS of -$0.09 versus the -$0.29 estimate, Starlink subscribers doubling to 12.0 million, connectivity revenue up 66% year over year, and enterprise and government revenue climbing 108% on airline partnerships and Starshield contracts. Traditional missile-defense primes Lockheed Martin, RTX, and Northrop Grumman all sit inside the Golden Dome supply chain for interceptors, sensors, and integration, while pure-play space names like Rocket Lab and AST SpaceMobile tend to move with SpaceX headlines; SpaceX carries a $47.50 billion backlog and $93.52 billion in cash, alongside $18.37 billion in quarterly capex, $15.83 billion of which went into AI compute, with a market cap of roughly $1.16 trillion. Even after Wednesday's rally, SPCX trades 33% below its intraday high of $226 on June 16, and the tell into the close is whether it can hold above $151 and turn the IPO open price into support rather than a ceiling, with the next Starship V3 test flight, any Pentagon follow-on Starshield task orders, and updates on the pending $60 billion Cursor acquisition expected to close in Q3 as near-term catalysts.

AT&T Inc. has partnered with LifeMD, Inc. to give its eligible wireless and fiber customers complimentary access to virtual care and pharmacy services. Under the agreement, more than 100 million eligible AT&T customers will receive a LifeMD membership worth $228 annually, with the regular $19 monthly fee waived. The benefit is offered through AT&T's &More program, and customers must enroll to activate the complimentary membership, paying only for the visits, prescriptions, or other services they use. The rollout will initially cover about 29 million AT&T customers in 11 states and is expected to expand nationwide in January 2027. The initiative supports AT&T's efforts to broaden customer benefits and strengthen engagement as demand for telemedicine grows, amid competition from Verizon Communications, Inc. and T-Mobile US, Inc., which are advancing their own AI-powered and 5G healthcare offerings.

SpaceX stock climbed 5% to $151.12 after Barron's reported the company plans to fly Starship again on September 22, in what would be the first attempt to place the vehicle's upper stage into stable Earth orbit. The move was SpaceX-specific rather than a sector rally: Rocket Lab sat at $63.75, up 0.3%, AST SpaceMobile was at $59.27, up 0.85%, and the Procure Space ETF was up 0.8% at $43.21, while the SPDR S&P 500 ETF Trust rose 0.3% to $759.99. Starship has flown twice since SpaceX began trading in June, and both attempts stayed suborbital; reaching stable Earth orbit is the threshold at which the vehicle can begin revenue flights instead of ferrying test articles. Separately, ARK Invest founder Cathie Wood projected Starship could generate $10 trillion in annual revenue by the end of the decade and called SpaceX's $1.75 trillion valuation a bargain, a forecast that assumes essentially every flight carries Starlink capacity at a flight rate far above anything Starship has achieved. SpaceX shares remain down 7% since they began trading in June, and the September 22 attempt is the next real information point for the stock.

SpaceX's AI computing business has flipped to positive adjusted EBITDA, a shift that could help lift the company from its roughly $2 trillion market capitalization toward $3 trillion. The AI segment, the smallest of SpaceX's three businesses in 2025 at about $3.2 billion in revenue, jumped to $3.4 billion in sales by the second quarter of 2026 after SpaceX began renting out spare capacity from its Colossus supercomputer instead of using it solely to train Grok. Starlink remains the only consistently profitable segment at scale, generating $7.5 billion in revenue, or roughly 60% of the company's total, along with $2.8 billion in operating income and $4.7 billion in adjusted EBITDA through June 30, with 12 million subscribers. The space business, which includes Falcon 9 and Falcon Heavy launches, generated $1.6 billion in revenue from 78 launches in the first six months of the year but is still losing money at the operating line because Starship development is consuming billions in research and development costs. SpaceX has signed AI capacity deals including Anthropic at $1.25 billion a month for Colossus 1, Google Cloud at $920 million a month starting this fall, and Reflection AI at $150 million a month in a contract worth up to $6.3 billion, while CFO Bret Johnsen said the company is on track to reach a $100 billion annual run rate by the end of this year.

Liberty Capital Corporation has acquired Quintillion in a USD 360m deal that adds roughly 3,000 kilometres of fibre cable to its network, with plans to expand that footprint by a further 2,500 kilometres or so. The acquisition was disclosed by Alluvium Asset Management in its Conventum – Alluvium Global Fund second-quarter 2026 investor letter, which noted the deal aligns with Liberty's GCI operations. Quintillion generates around USD 55-60m in revenue and USD 30m in free cash, and the fund expects significant synergies reportedly around USD 20m, producing a valuation uplift of around 35% when incorporated into its model. GCI Liberty, the Alaskan cable business spun out of Liberty Broadband, rebranded as Liberty Capital Corporation in May 2026, and its shares fell 40.6% over the period. Management also decided to retreat from the competitive, low-margin video business, while a planned acquisition of an initial 6% stake in Liberty Latin America, which would have been built up by buying John Malone's interest, did not proceed. With the share price falling to levels approximating half its valuation and encouraged by the CEO buying shares, the fund increased its position to 3.4% of the portfolio.

True Corporation, through True Business, has joined with Srinakharinwirot University, or SWU, to launch an EdTech learning platform that brings knowledge and quality courses from the SWU Demonstration School online for the first time, allowing students nationwide to study free of charge with no course fees, via web browsers on computers, tablets and smartphones without downloading an application. This set of online courses consists of courses exclusive to the SWU Demonstration School that are actually taught in the school, covering more than 70 courses such as science for medicine, science for engineering, language arts and performing arts. The platform is expected to open for use in the 2027 academic year, and courses will later be expanded to the university level and specialised subjects. The collaboration also covers upgrading AI and AI Transformation skills for SWU personnel, including lecturers, staff and personnel across all eight regional networks, along with the True AI Hub toolset, which brings together more than 100 AI models from over 10 leading providers. Dr. Teeradej Damrongplasit, head of the corporate business group at True Corporation, said learning opportunities should not be limited by distance or by constraints on access to devices, while Professor Dr. Cholwit Jiarajit, president of Srinakharinwirot University, said the collaboration is an important step in transforming Thai education in the AI era.

Intel shares rose 5% and SK Hynix gained 3% following a report that South Korea's SK Hynix is in talks with Intel about potentially manufacturing memory chips in the U.S. for the first time. One scenario would involve SK Hynix leasing part of Intel's planned Ohio chipmaking facility, while another could involve a joint venture with Intel and major cloud companies seeking to secure memory supplies. The discussions remain exploratory, with no decisions made, and potential opposition from Seoul could pose a hurdle, particularly if advanced memory technologies such as HBM or DRAM are involved; SK Hynix said it is reviewing measures, including additional production bases, but that no matters have been determined at this stage. FTAI Aviation gained 2% after authorizing a new $500M share repurchase program, funded with cash on its balance sheet and running through September 30, 2029 unless completed earlier. Vodafone fell 2% after reports indicated the British telecom giant could face up to €1.1B ($1.27B) in potential earnings losses from the sale of Patrick Drahi's 50% stake in the German broadband joint venture OXG Glasfaser, with Société Générale agreeing earlier this month to acquire Drahi's stake but not assume his deferred payment commitments.