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AT&T T

Media & TelecomMarket cap $140B8 connections

AT&T is America's largest telecommunications company, operating the nation's #2 wireless network (100M+ customers) and AT&T Fiber (the fastest-growing fiber internet provider, passing 30M+ homes). After divesting WarnerMedia (now WBD) and DirecTV, AT&T refocused on connectivity. Its fiber buildout is its most important multi-decade investment, bringing gigabit internet to millions of homes currently served only by cable.

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Suppliers 4

Companies that sell to AT&T

  • MicrosoftTechnology · $2.8TAT&T moved its network cloud to Azure (2021)since 2021
  • American TowerReal Estate · $95BAT&T leases American Tower cell sites
  • Crown CastleReal Estate · $48BAT&T leases Crown Castle towers
  • SBA CommunicationsReal Estate · $22BAT&T leases SBA tower space for wireless coverage

Partners 3

Strategic partnerships, joint products and alliances

  • AppleTechnology · $3.0TOriginal iPhone exclusive carrier 2007since 2007
  • VerizonMedia & Telecom · $165BCompeting wireless carrier duopoly
  • AST SpaceMobileAerospace · $5BAT&T partnership for AST space-based cellular

Competitors 1

Companies it competes with

  • T-MobileMedia & Telecom · $210BWireless carrier competition

Key relationships in depth

AT&T & Apple

AT&T held exclusive US carrier rights for the original iPhone from June 2007 through early 2011. Steve Jobs negotiated an unprecedented arrangement in which AT&T had no control over the iPhone's design, software, or pre-installed apps, a complete reversal of the standard carrier handset model of the era. AT&T reportedly paid Apple approximately $10 to 11 per month per iPhone subscriber as a revenue share.

Why it matters: The AT&T exclusivity deal transformed the mobile industry by demonstrating that a device maker could dictate terms to carriers rather than the reverse. AT&T gained millions of new subscribers and four years of competitive differentiation. The arrangement ended the era of carrier-customized, carrier-branded handsets and set the template for how Apple manages all carrier relationships globally.

AT&T & Microsoft

AT&T and Microsoft have a landmark hybrid cloud partnership under which AT&T has committed to Microsoft Azure as its primary cloud platform for a reported $2B multi-year agreement, including migrating AT&T's legacy telecom operations systems to Azure. AT&T's 5G network operations, AI-powered customer service (Ask AT&T AI assistant), and employee collaboration tools run on Microsoft Azure and Microsoft 365. The partnership also covers Microsoft Teams integration with AT&T's business communications services for enterprise customers.

Why it matters: AT&T's transformation from a traditional telecom to a software-defined network company requires cloud infrastructure that can handle the complexity of managing millions of network devices while reducing operational costs. Azure's capabilities in network function virtualization (NFV) and software-defined networking (SDN) align with AT&T's strategy of moving network intelligence from proprietary hardware to cloud-hosted software, which can be updated continuously rather than through expensive hardware refresh cycles.

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Relationships are compiled by VexMap from company filings, announcements and reporting, and last reviewed September 2026. Spotted something wrong? Tell us. Not investment advice.