Verizon Communications successfully bid nearly $3.2 billion for wireless licenses in a Federal Communications Commission auction for mid-band spectrum.
The AWS-3 auction raised approximately $3.57 billion in gross bids across 200 licenses, according to the FCC.
Other winning bidders included T-Mobile, AT&T, and SpaceX. Reuters reported that T-Mobile won licenses with a bid of about $278 million, AT&T bid about $121 million, and SpaceX bid about $8.5 million.
The spectrum auction focused on AWS-3 mid-band licenses, which are valuable for expanding wireless network capacity and supporting advanced 5G services.
The auction also marked the FCC’s first spectrum auction in four years. Congress authorized the one-time sale to help meet demand for wireless spectrum and to fund federal telecom security programs.
Reuters previously reported that proceeds from the auction will largely be used to support the FCC’s “Rip and Replace” program, which reimburses telecom providers for removing Huawei, ZTE, and other covered Chinese equipment from U.S. networks.
The FCC said the program had faced a funding shortfall after Congress initially approved less than the amount needed to fully reimburse participating providers.
For Verizon, the winning bids could strengthen its mid-band spectrum holdings and support network capacity across key markets.
The auction results also highlight continued demand for mid-band spectrum among major wireless carriers and emerging connectivity players as mobile data usage, 5G adoption, and network performance requirements continue increasing.
