LatAm telcos: Starlink‘s capacity surge could reshape broadband prices; CINT partners w/ Mistral; GLOB/CINT: Anthropic‘s FDE strategy

研报英文原文证据摘录

LatAm telcos: Starlink‘s capacity surge could reshape broadband prices; CINT partners w/ Mistral; GLOB/CINT: Anthropic‘s FDE strategy

Global Research

16 July 2026ab

TMT Daily Equities

Emerging MarketsLatAm telcos: Starlink's capacity surge could

reshape broadband prices; CINT partners w/ Telecommunications

Mistral; GLOB/CINT: Anthropic's FDE strategy Leonardo Olmos,AnalystCFA

leonardo.olmos@ubs.com

+55-11-9658 7533

TMT Calendar: next main events: Gustavo Farias

Associate Analyst

(July 21) AMX earnings release gustavo.farias@ubs.com

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LatAm telcos: Starlink's capacity surge could reshape broadband prices

What happened: Yesterday, we hosted a SpaceX teach-in call with UBS analysts John

Hodulik and Gavin Parsons. Key takes were:

Pricing set by capacity, not by the market. Starlink's leadership mostly

comes from outside the telecom industry and the company plans to price

aggressively to sell all available capacity, according to the analysts, aiming to

capture a large share of the fixed broadband market.

From remote areas to mass-market broadband. Starlink serves >10mn

customers on ~10,000 V2 mini satellites; the V3 upgrade (up to 100,000 units,

with 10x downstream capacity) could bring a ~100x capacity increase, shifting

the product from niche to mass-market broadband. Launch costs are 80–90% of

constellation expenses, so Starship's cost cuts directly improve economics. In

the US, this could support 25–30mn customers over five years.