Jun 14, 2026 – 4.00pmTraders are betting that ASX-listed telco giant Telstra will face a disruptive threat from Elon Musk’s newly listed $US1.8 trillion ($2.6 trillion) giant SpaceX, which runs satellite internet operator Starlink.SpaceX listed on Friday in a blockbuster sharemarket float, and derives $US11.4 billion, or 61 per cent, of its revenue from Starlink’s connectivity services. But some investors say the company could feed its growth ambitions by eating into the market share of existing broadband providers.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Telstra pinned as possible SpaceX loser after mega float
Could the Australian telco giant’s dominance be threatened by Elon Musk’s newly listed satellite broadband empire? Brokers think there might be a trade in that.
TL;DRAI
SpaceX listed Friday at $1.8 trillion; Starlink satellite internet (61% of group revenue) now directly competes with telco broadband, threatening Telstra's market share. Satellite economics disrupt traditional fiber capex models—cheaper scale-out forces telco margin compression and strategic repositioning toward enterprise value-add services.
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