SpaceX could be about to buy 80,000 cell towers in an effort to compete with Verizon, AT&T and T-Mobile.

Elon Musk’s SpaceX (SPCX) may be about to send another message to telecom giants: We’re seriously coming to your rescue.

The company plans to buy 80,000 cell sites across the United States, Bloomberg reported Friday. SpaceX is reportedly in talks with two of the companies, Crown Castle and American Tower, among the largest cell tower owners.

“Committing about $30 billion to spectrum is serious enough. Committing to 80,000 macro sites could be a point of no return,” said Laurent Yoon, an analyst at Bernstein. “This is a significant number, largely consistent with the scale required for a nationwide terrestrial wireless network. It remains unclear whether SpaceX ultimately leases anything close to this figure, but the reported scope suggests a much higher level of commitment than spectrum accumulation alone.”

Shares of AT&T (T), Verizon (VZ) and T-Mobile (TMUS) saw sharp declines in pre-market trading.

Earlier this month, SpaceX announced that it had acquired a national portfolio of low-band spectrum.

Concerns had already been growing on Wall Street that Starlink could disrupt traditional wireless carriers like AT&T, Verizon and T-Mobile by moving from a rural broadband service to a direct mobile competitor.

Following its strategic acquisition of Earth’s spectrum and rapid deployment of advanced satellites, SpaceX had laid the groundwork for launching its own autonomous cellular network alongside its direct-to-cell transmission capabilities.

Yoon said: “Starlink broadband is the threat that investors can see today and that incumbents are starting to recognize. Starlink Mobile remains the biggest long-term question given the size and profitability of the wireless market.

Brian Sozzi is the editor-in-chief of Yahoo Finance, host of the Sozzi unleashed morning show, the ‘Powerful actors with Brian Sozzi podcast and member of the Yahoo Finance editorial leadership team.