Investing.com -- U.S. wireless stocks tumbled Tuesday after SpaceX signaled plans to build a full-fledged mobile service, raising the prospect that Starlink could eventually compete directly with Verizon, AT&T and T-Mobile. SpaceX acquired 65 megahertz of wireless spectrum from EchoStar for a combined $19.6 billion across two deals announced last year, giving Starlink the airwaves needed to expand into mobile. She said the company plans to build the infrastructure to make Starlink "a true mobile service" and expects to pull "quite a few" customers away from the Big Three carriers. Losses narrowed, but heavy spending weighed on operations, with capital expenditures surging to $18.4 billion from $2.8 billion a year earlier. Related articlesTelecom stocks fall after SpaceX signals push into mobile serviceNew report warns China transceiver ban would hurt U.S. AI giantsArista Networks rallies 13% on strong Q2 beat and raised outlook