TypeSafe AI raises $870 million at $7.5 billion valuation
Andreessen Horowitz led the funding round for the developer of Jev, with Sequoia and existing investor DCVC also participating.
SpaceX agrees to buy Grain Management's US spectrum portfolio
The deal covers nationwide 800 MHz spectrum and requires FCC approval. T-Mobile US, Verizon and AT&T shares fell more than 5% in extended trading.
SpaceX reached an agreement on October 8 to purchase 100% of Grain Management's nationwide portfolio of 800 MHz spectrum, expanding its effort to connect smartphones directly through satellites. The companies did not disclose financial terms, and the transaction needs approval from the Federal Communications Commission.
The low-band frequencies can carry signals over greater distances and through walls and tree cover, helping address an obstacle for satellite-based mobile service. The acquired spectrum will complement Starlink Mobile's global 2 GHz mid-band holdings, which will supply high-bandwidth capacity.
The agreement advances Elon Musk's push to provide cellular service from orbit rather than through conventional wireless infrastructure. Shares in T-Mobile US, Verizon and AT&T each lost more than 5% during extended trading amid investor fears that SpaceX competition could trigger a price war and reduce their market share.
Separately, the FCC approved the application for Starlink Mobile's Gen2 constellation, allowing SpaceX to deploy 15,000 satellites optimized to use 2 GHz frequencies worldwide.