What Happened
Elon Musk's Rocket Business Expands With New Spectrum Portfolio
SpaceX, led by Elon Musk, has acquired a nationwide low-band spectrum portfolio, positioning its Starlink satellite business to challenge legacy wireless giants across the US. This move has already impacted shares of AT&T, T-Mobile, and Verizon. Additionally, SpaceX is reportedly seeking $40 billion in financing to purchase Nvidia chips, a decision that may be influenced by its contracted backlog in AI and the cash generation of Starlink. The company’s stock is poised for a catalyst-fueled 2027, with key events including the end of Elon Musk’s lockup period on June 12, 2027, as reported by Yahoo Finance.