AT&T shares took a significant hit on Friday, plunging over 5%, as reports surfaced that Elon Musk's SpaceX is actively pursuing access to at least 80,000 cell sites across the United States. This aggressive move signals SpaceX's intent to become a major terrestrial wireless competitor, directly challenging established giants like AT&T, Verizon, and T-Mobile in the fiercely competitive U.S. telecom market. The news, initially reported by Bloomberg, sent ripples through the industry, with incumbent carriers seeing their stock prices slide, while cellular tower operators like Crown Castle experienced a surge in value.