AT&T is the largest provider of wireless and fiber broadband connectivity in the U.S. AT&T's wireless business serves about 120 million subscribers under the AT&T, Cricket, and AT&T PREPAID brands, making it one of three national carriers alongside T-Mobile and Verizon. AT&T also operates a fiber broadband network passing over 32 million locations, with roughly 10.4 million fiber customers, and a fixed wireless product (AT&T Internet Air) with 1.5 million subscribers. AT&T generates revenue primarily through recurring monthly subscription fees — wireless service fees driven by subscriber count and per-user pricing, and broadband fees driven by fiber customer count and penetration within its built footprint. AT&T's core strategic thesis is convergence: customers who subscribe to both wireless and fiber broadband churn less and generate higher lifetime value. AT&T argues converged customers have lifetime values more than 15% higher than standalone customers, and wireless share runs 10 percentage points higher within AT&T's fiber footprint than outside it. AT&T is aggressively expanding its fiber network, targeting over 40 million locations by year-end 2026 and approximately 60 million by 2030, partly through its pending acquisition of Lumen's Mass Markets fiber assets. Legacy copper-based wireline revenues are in structural decline, and AT&T is actively decommissioning its copper network, targeting elimination across the large majority of its footprint by 2029.