AT&T has become the first major U.S. telecom provider to bundle Amazon Leo satellite broadband with its fiber and 5G networks for enterprise and public-sector customers. The service will be delivered through AT&T terminals, with installation, support and billing handled as part of a managed offering. Amazon Leo is not broadly live, and the companies have disclosed neither pricing nor a launch date. AT&T said the rollout will be phased, initially focusing on backup connectivity and rural coverage rather than direct-to-phone service. Amazon CEO Andy Jassy said in July that Leo had close to 400 satellites in orbit and more than 20 partners extending the network globally. The agreement gives Amazon access to AT&T's nearly 2.5 million business accounts instead of requiring it to build a comparable enterprise sales force. AT&T has said fiber and 5G cannot economically reach about 2% of rural traffic. Starlink remains the market leader, with 12.0 million subscribers and more than 11,000 satellites, while Amazon has approval for a 3,232-satellite constellation. AT&T traded near $25.32, down 1.11% intraday but up 6.43% over the past month, while Amazon fell 1.9% to $252.09. Investors will watch SpaceX's response on carrier pricing and AT&T's Oct. 21 Q3 2026 earnings for evidence of enterprise bookings linked to Leo.