Proposed FCC rules to more than double SCS spectrum are wildly bullish for AST SpaceMobile and SpaceX, the only two SCS license holders. AST trades below the value of its Ligado rights; its agreed deal has almost no chance of FCC blockage despite objections. AST could return to its highs sooner rather than later if the November 9 call clarifies production and Blue Origin keeps moving New Glenn toward the pad. New Glenn is the value unlock. x.com  x.com  x.com  x.com 

SpaceX should benefit from the FCC's proposal to open more spectrum for space-based wireless service. Per Reuters, the FCC says added capacity for inter-satellite links will improve connectivity to ships, planes and vehicles and lead to new industrial and commercial innovations in space. x.com 

SpaceX's growing connectivity profit improves its business case, but spending still leaves self-funded growth unproven. Starlink users rose from 12m to 13.6m and ARPU from $66 to $69; connectivity earned $2.4B of $2.8B operating profit. The $4.4B net profit includes non-operating and tax gains, while AI's operating margin is about 5.7%. Quarterly capex exceeded revenue at $19.6B, with $35-40B planned for Q4. Valuation still requires evidence of cash returns. x.com 

SpaceX is moving toward a launch monopoly as ULA loses urgent national-security missions. Per @cb_doge, the Space Force shifted six launches to SpaceX to keep them on schedule. SpaceX is also negotiating leases with Crown Castle and other tower firms for at least 80,000 sites, a potentially multibillion-dollar step toward becoming the fourth nationwide US mobile carrier. x.com  x.com 

SpaceX's satellite network should let Starlink Mobile provide equivalent cellular service with far less terrestrial infrastructure than other carriers. Acquiring some cell towers therefore makes sense. StockSavvyShay says SpaceX is in talks to secure at least 80,000 US cell sites. x.com 

SpaceX's effort to make satellite-only coverage count toward buildout requirements casts doubt on its terrestrial-network pitch. It is spending considerable energy seeking that option while saying it plans to build a terrestrial network. x.com 

SpaceX can scale Starlink faster than fiber because each cheaper launch adds capacity across countries without digging trenches or waiting for permits. Starlink subscribers grew from about 4.4 million to 13.6 million in under two years, including 1.6 million in one quarter; AT&T fiber connections grew about 36% over the chart's period. Beams limit growth in dense cities, though SpaceX says V3 satellites add much more capacity per launch. x.com  x.com  x.com  x.com  x.com  x.com  x.com  x.com 

A commercial-launch bottleneck is good news for Rocket Lab. Christine Ji reports that a SpaceX launch shortage is fueling a $100 billion wave of investment in space infrastructure and applications. x.com 

SpaceX's valuation front-ran a great business that still has two hard dependencies, and the stock is repricing the hype. Starlink Mobile's V2 satellites, deploying from 2027, depend entirely on Starship cadence, and its urban 5G story needs EchoStar spectrum that transfers only in November 2027. The real moat is polar and high-latitude coverage, shown by a Deutsche Telekom deal covering 140M subscribers. The stock is down 50% from its $225 June peak at 60 times sales. x.com  x.com 

SpaceX should post huge numbers in 2027 as Starlink's recurring revenue grows alongside a much faster-growing SI business. Kalshi Finance reports 13.6 million Starlink subscribers, up from 7.2 million a year ago. At $69 monthly revenue per user, Starlink is generating close to $938 million a month; it is SpaceX's second-fastest-growing business at 69% year over year, behind SI at 830%. x.com