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SpaceX investors are finally getting some reprieve after months of being whipsawed by volatility as the Elon Musk-led company’s stock breaks above the level it’s been stuck below since July. SpaceX is closing in on a crucial swath of spectrum needed to turn the rocket, satellite and AI company into a “major mobile carrier,” setting the stage for a clash with stalwarts like T-Mobile US Inc., Verizon Communications Inc. and AT&T Inc. Once the company receives approval from the Federal Communications Commission, it will combine its satellite-to-cell services with a terrestrial network that can connect devices everywhere.

For more, we speak with Loren Grush, Bloomberg News Global Space Reporter.