SpaceX wants to turn Starlink Mobile into a full mobile carrier in the United States. Its deal for 800 MHz spectrum from Grain Management is the latest step.

Here is the plan. Starlink already beams internet from satellites. Low-band 800 MHz spectrum travels far and passes through walls, which helps indoor coverage. SpaceX will pair it with 2 GHz mid-band spectrum for extra capacity. The result would be a hybrid network of satellites and ground towers.

The deal needs FCC approval. The regulator has also cleared 15,000 Gen2 Starlink Mobile satellites. SpaceX says they will deliver 100 times current bandwidth. The spectrum deal still needs approval from the Federal Communications Commission.

Why it matters: users could get calls, texts and data from space where towers do not reach. AT&T and Verizon shares fell nearly 10 percent on the news, as investors fear a new rival. A phone that works anywhere on Earth is the long-term goal.