Verizon CEO says SpaceX could need $500 billion and eight years to compete in wireless

Verizon CEO Dan Schulman estimated that SpaceX could need $300 billion to $500 billion and seven to eight years to build a terrestrial network capable of competing with established U.S. carriers. The article distinguishes that buildout from the company’s planned satellite mobile service.

• Schulman said SpaceX could need as much as $500 billion and seven to eight years to build a competing wireless network.· 2 sources
• The article reports that SpaceX is seeking access to at least 80,000 U.S. cell sites and is targeting the first half of 2028 for satellite-based mobile services.· 1 source
• Other estimates cited in the article put a terrestrial network buildout at roughly $50 billion to $130 billion, while TD Cowen estimated more than $80 billion.· 1 source