SpaceX IPO Still Isn’t Official — But Starlink Gen-2 Network Is Coming Next Year

FCC filing reveals Musk’s next big satellite bet as Starlink sharpens its edge over Verizon, AT&T, and space-based rivals.

• According to a Federal Communications Commission (FCC) filing, SpaceX’s first-generation service covers over 400 million people.
• FCC said that various other providers are rushing to launch their own direct-to-device services.
• AST SpaceMobile will also deploy 45 to 60 satellites and initiate commercial direct-to-device services in 2026, the FCC said.

Elon Musk’s SpaceX is looking to launch its second-generation Starlink cellular system in 2027, a move that would follow its expected initial public offering sometime this year and build on the immense growth of its first-generation services.

According to a Federal Communications Commission (FCC) filing, SpaceX’s first-generation service provides coverage to over 400 million people, with more than 6 million customers accessing it each month.

“SpaceX has also invested in spectrum that will enable it to launch a greatly enhanced second-generation direct-to-device system in 2027,” the filing said.

Direct-To-Device Competition

Starlink’s second-generation direct-to-device system would give it a stronger edge over traditional providers such as Verizon and AT&T. Starlink has partnered with T-Mobile to offer services in dead zones and has now expanded by bringing satellite data connectivity to popular apps using its current direct-to-device system.

The companies are now offering tools like app-based voice and video chat, mapping, weather, and social media sharing, among others, as part of their T-Satellite collaboration. This partnership competes with Verizon and AST SpaceMobile, which have now expanded their collaboration to provide cellular service from space beginning next year.

FCC said various other providers are rushing to launch their own direct-to-device services, with companies such as Lynk Global and Omnispace announcing a merger to accelerate deployment and scale Lynk’s direct-to-device services. The filing added that ASTS also expects to deploy 45 to 60 satellites and initiate commercial direct-to-device services in 2026, while Globalstar is expanding its ground network in preparation for the launch of its third-generation C-3 direct-to-device system.

Starlink’s Reach

FCC noted that in the days leading to Hurricane Melissa in October 2025, SpaceX rapidly enabled direct-to-cell service in Jamaica and the Bahamas. “During the network outages that followed in the wake of the storm, this service enabled almost 1.3 million SMS messages to be sent and received,” the FCC said.

How Are Retail Users Reacting?

Retail sentiment on SpaceX was in the ‘bearish’ territory, with message volumes at ‘high’ levels, according to data from Stocktwits. Sentiment on AST SpaceMobile remained unchanged in the ‘bullish’ territory, while on Globalstar it changed to ‘neutral’ from ‘bullish’ a month ago.

For Verizon, retail sentiment jumped to ‘bullish’ from ‘neutral’ territory, and on T-Mobile, it improved to ‘neutral’ from ‘bearish.’

Shares of ASTS have soared 423% in the last 12 months, while GSAT stock has jumped 113% during the same period.

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