SpaceX is reportedly in talks with cellular infrastructure companies to enter the U.S. mobile communications market, leveraging existing satellite networks and ground station resources, Reuters reported. Following this news, AT&T, Verizon, and T-Mobile all saw pre-market declines exceeding 4%, as investors fear that a successful launch of SpaceX's national wireless carrier plan would directly impact the big three carriers' subscriber base and pricing power. Meanwhile, SpaceX shares rose by 1.5%.

Cell tower operators, however, experienced the opposite trend, with Crown Castle up 8.6% and American Tower up 6.1% in pre-market trading. The market logic suggests that if SpaceX aims to build ground coverage capabilities, accessing existing cell tower infrastructure would be the quickest path, thus transforming tower assets from potential competitive threats into direct beneficiaries.