Catenaa, Friday, October 23, 2026- US cell tower stocks jumped on Friday on reports that SpaceX is in talks with tower providers for its mobile carrier business.
Crown Castle emerged as one of the biggest beneficiaries of the report, with its shares gaining more than 10% during Friday’s session. American Tower also advanced as investors anticipated potential demand for existing wireless infrastructure.
Shares of American Tower (AMT) also climbed by 3.5% on Friday.
Bloomberg reported that SpaceX is seeking access to a minimum of 80,000 wireless sites nationwide as it considers building a terrestrial network alongside its existing satellite services. Crown Castle is among the infrastructure providers involved in discussions, according to people familiar with the matter.
Shares of mobile providers AT&T, Verizon, and T-Mobile were each down between 3% and 5% recently amid worries about competition.
Meanwhile, SpaceX stock rose less than 1% on Friday after plunging over 9% on Thursday’s tech sell-off.
Cell sites are physical locations equipped with antennas and electronic communication gear that connect mobile devices to a wireless network. It is basically the starter kit for offering cellular service.
But Musk’s mobile ambitions have a trail: SpaceX acquired low-band wireless spectrum, which provides the licensed frequencies needed to transmit mobile signals.
The company also received FCC approval to launch 15,000 satellites designed to connect directly to mobile phones.
The scale is significant too: The US had approximately 158,500 purpose-built cell towers operating in 2025, so 80,000 is almost half that.
But access to cell sites doesn’t necessarily mean purchasing them. They can also be leased. But either way, the money we’re talking about here is substantial.
According to industry estimates, building a countrywide terrestrial network could cost north of $80 billion.
But telecom is too crowded already. For years, Starlink’s primary selling point has been internet access in places underserved by terrestrial broadband.
But a nationwide mobile network would put it in direct competition with AT&T, Verizon, and T-Mobile, which have invested heavily in spectrum, towers, fiber-optic backhaul, and network operations.
