AT&T and T-Mobile committed to spend a combined $1.8 billion in an auction for the high-frequency spectrum needed to deliver some of the fastest 5G speeds, per Ars Technica.
Why it matters: Spectrum is the foundation of any cellular network and delivering 5G requires higher frequency bandwidth than many carriers have in their possession.
US Cellular, Verizon and upstart Starry also agreed to plunk down significant cash at the auction.
The bottom line: Verizon already has a significant amount of high-bandwidth spectrum, while Sprint plans to tap its nationwide mid-band spectrum as the center of its 5G strategy.
