SpaceX signs multi-year contract with Qualcomm… plans to build tens of thousands of base stations

SpaceX ($SPCX) signed a multi-year agreement with Qualcomm ($QCOM) to supply cellular infrastructure hardware and software for Starlink Mobile's U.S. ground-based base stations, with construction of tens of thousands of new sites set to begin next year. The network will use Qualcomm's Dragonwing cellular infrastructure equipment to complement Starlink's satellite capabilities, and Qualcomm described the deal as its largest 5G project to date, according to CNBC. Financial terms were not disclosed. The agreement matters because it pairs SpaceX's low-earth-orbit satellite network with Qualcomm's terrestrial 5G gear to expand coverage for millions of U.S. users, and it gives Qualcomm a marquee customer in its infrastructure business. What to watch next is the pace of site buildout starting next year and whether the partnership expands beyond the initial U.S. deployment.