SpaceX mobile network could cost up to $130 billion, Bernstein says

Analyst
โดย Yahoo Finance·US·Read original
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Bernstein analyst Douglas Harned estimates that building a SpaceX mobile network to compete with T-Mobile, AT&T, and Verizon could cost between $50 billion and $130 billion. In a note on Monday, Harned said SpaceX is still most likely to partner for its mobile business, but the company continues to indicate a terrestrial buildout is possible. He noted that estimates for a greenfield network range from $15 billion to $200 billion, with common approaches based on Dish's build, which spent about $7.4 billion in cash capex from 2020 to 2024 for roughly 24,000 sites and 268 million pops. SpaceX's total capital expenditures in the second quarter were $18.4 billion, far above analyst estimates of around $6 billion, and JPMorgan analysts project SpaceX will spend $200 billion or more on capex in 2027 and 2028. Shares have rallied from an intraday low of $104.83 on August 3 to $142 on August 31, but MoffettNathanson's Julie Zhu remains cautious, questioning what SpaceX is and staying on the sidelines until expectations reset.

Impact on stocks 7

Cloud & Digital Infrastructure▲ · 4 stocks
AT&T Inc.
T
± MixedCompetitionrelevance

SpaceX's potential mobile network could compete with AT&T, but article notes partnership is most likely.

T-Mobile US Inc
TMUS
± MixedCompetitionrelevance

SpaceX's potential mobile network could compete with T-Mobile, but article notes partnership is most likely.

Verizon Communications Inc
VZ
± MixedCompetitionrelevance

SpaceX's potential mobile network could compete with Verizon, but article notes partnership is most likely.

Space Economy▲ · 2 stocks
Digital Finance & Tokenization▲ · 1 stocks

Theme Impact 1

Off-coverage companies 1

Bernstein (Societe Generale / AllianceBernstein JV)Private± Mixed
relevance

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