Second 5G FCC Auction Nets $2 Billion

The Federal Communications Commission (FCC) raised $2 billion in its second auction of 5G spectrum on Tuesday. The FCC sold off millimeter-wave (mmWave) high-bandwidth spectrum in the 24 GHz band. 2,904 licenses of the 2,909 offered were awarded and with these licenses, carriers can launch a variety of mobile services. “By making more spectrum available, we’ll ensure that American consumers reap the substantial benefits that 5G innovation will bring and we’ll extend U.S. leadership in 5G,” FCC Chairman Ajit Pai said in a statement. The FCC has not yet identified the winners of the auction.