SpaceX is planning an IPO for 2026, looking to raise up to $75 billion at a $2 trillion valuation. They also applied to bid in the FCC's upcoming wireless spectrum auction in June. This could be an issue for AT&T, Verizon, and T-Mobile. Spectrum is limited, and a new bidder like SpaceX will likely drive up prices for the licenses these carriers rely on. We saw this in 2014 when Dish Network entered the bidding and forced carriers to pay much more than expected. SpaceX already bought unused licenses from EchoStar. Right now they partner with T-Mobile to provide satellite service in dead zones, but they recently rebranded their service to Starlink Mobile. They might be setting up to become a direct competitor to the major wireless carriers down the road.