SpaceX says it has a plan for Starlink Mobile to compete against the big three wireless carriers and take a large number of customers away from them.

SpaceX has so far partnered with traditional mobile carriers to supplement their ground-based networks with Starlink satellite capacity, mainly to ensure coverage from space in dead zones not reached by cell towers. But SpaceX is buying spectrum licenses that would let it offer its own terrestrial service to compete directly against the big carriers, and the firm's top executives said in yesterday's earnings call they plan to do just that.

"The spectrum that we purchased from EchoStar does have terrestrial components, so we definitely intend to build out the terrestrial component," SpaceX President Gwynne Shotwell said in response to questions on the earnings call. "So you will have not only the capacity from the satellites themselves, but you will have a buildout of the terrestrial, basically the hardware and systems necessary to make a true mobile service exactly what you want it to be."

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SpaceX shares dropped on Wednesday after Elon Musk’s plans for blockbuster spending to position his AI and rocket company as a data center developer spooked investors.

SpaceX surpassed analysts’ expectations in Tuesday’s debut earnings report, posting quarterly revenues of $7.8 billion, well above analysts’ estimates of $6.82 billion and up 92 percent from a year earlier. It posted a net loss of about $541 million, better than estimates of $2.12 billion.

But shares in SpaceX fell 10 percent in early trading after it reported capital expenditure of almost $16 billion on AI, double the previous quarter and well above Wall Street’s expectations. It said spending would persist at current levels for at least two more quarters.

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SpaceX and the state of Louisiana are close to finalizing a deal for the launch company to acquire about 130,000 acres along the northern coast of the Gulf of Mexico.

There have been persistent rumors about such an agreement for months, but now The Times-Picayune | The New Orleans Advocate reports that Louisiana Gov. Jeff Landry is expected to announce the agreement later this month.

The deal would give SpaceX control of an 18-mile stretch of marshland southwest of Lafayette. The site, known as Pecan Island, became available as part of a legal settlement that resolves dozens of lawsuits that blame ExxonMobil for pollution and coastal land loss, the newspaper reports.

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