Jim Cramer Calls Elon Musk Acquiring Lower Frequency Spectrum 'HUGE' for SpaceX; Chamath Palihapitiya Says It's A 'Very Big Deal'

On Thursday, Jim Cramer and Gene Munster weighed in on Space Exploration Technologies Corp.’s (NASDAQ:SPCX) latest spectrum acquisition, with the latter suggesting the deal could eventually pave the way for an Elon Musk-backed smartphone. Jim Cramer, Chamath Palihapitiya React to SpaceX Deal SpaceX announced an agreement to acquire a nationwide portfolio of 800 MHz wireless spectrum from Grain Management for an undisclosed amount. Cramer reacted to the announcement on X, saying, "HUGE." HUGE https://t.co/NSFWghzqoG— Jim Cramer (@jimcramer) October 8, 2026 Social Capital founder and venture capitalist Chamath Palihapitiya also highlighted the significance of the transaction, calling it "a very big deal." This is a very big deal. https://t.co/XkDRmOHfBF— Chamath Palihapitiya (@chamath) October 8, 2026 Read Also: Elon Musk’s SpaceX Gets Green Light from Trump's FCC for 15,000 Starlink Satellites: Here’s What Comes Next Gene Munster Sees Potential SpaceX Smartphone Deepwater Asset Management managing partner Munster suggested the acquisition could eventually support a SpaceX-branded smartphone. "Elon says he doesn’t want to make a phone. I still think [$SPCX] eventually will," Munster wrote on X. Munster argued that a vertically integrated smartphone connected to Starlink’s mobile network could offer features traditional carriers cannot match, potentially alongside cheaper wireless service. He suggested such a product could pose a greater competitive threat to Samsung Electronics Co. (OTC:SSNLF) than Apple Inc. (NASDAQ:AAPL). "That’s a bigger problem for Samsung than Apple. $AAPL ’s device and services tie-in is harder to break," Munster wrote. How the Spectrum Deal Could Boost Starlink Mobile In a statement announcing the agreement, SpaceX said the acquisition would address a key technical limitation as Starlink Mobile seeks to become a major U.S. wireless carrier. The company said the low-band spectrum could improve signal penetration through walls and other obstacles, potentially expanding mobile connectivity. The transaction remains subject to final Federal Communications Commission approval. Telecom Stocks Slide After Hours Following the announcement, SpaceX shares rose 2.32% to $164.30 in after-hours trading Thursday, according to Benzinga Pro. Meanwhile, major wireless carriers’ shares declined sharply after hours. AT&T Inc. (NYSE:T) fell 6.51%, Verizon Communications Inc. (NYSE:VZ) dropped 5.85%, and T-Mobile US Inc. (NASDAQ:TMUS) slid 6.63%. According to Benzinga Edge Stock Rankings, SpaceX maintains positive short-, medium- and long-term price trends. Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors. See More: Top Growth Stocks Photo courtesy: katz / Shutterstock.com