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Verizon CEO Dan Schulman stated on Monday that SpaceX requires up to $500B and 80,000 cell towers to match Verizon's network, estimating an eight-year build time. Elon Musk replied on X that it will take 2 or 3 years. SpaceX's recent $8B spectrum deal caused Verizon shares to drop 8.8%.
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Summary by ByteBrief

SpaceX to Invest $8B to $10B in Skydance

SpaceX reports Q3 capex of $19.6B, up from $6.9B a year earlier, and Q3 connectivity revenue, which includes Starlink, up 69% YoY to $5.2B (Becky Peterson/Wall Street Journal)

SpaceX Secures 40 Billion Nvidia Chip Deal