The federal Communications Commission’s continuing sale of wireless licenses has acquired over $69.8 billion after three weeks of bidding, a record sum that could change cell phone carrier’s chances for the next decade.The auction profits have already surpassed the $44.9 billion raised in 2015 by a previous stage of midrange cellular licenses, which US cell phone carriers used at a time to increase their 4G service. Those companies are now investing billions of dollars in the next wave of fifth-generation coverage. The 5G standard promises to increase the flow of data to phones and other wireless devices such as personal computers, cars and industrial machinery.The recent bids have surpassed Wall Street’s highest forecasts, suggesting that numerous companies are fighting over the most valuable wireless rights. The 5G auction launched December 8 and will pause for the holidays until January 4, when total bids could increase even more.
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