After the FCC’s first two millimeter wave spectrum auctions, last year, attracted limited investment, its third sale looks set to generate higher revenues than expected. The main, ‘clock’ phase of the two-stage auction – the FCC’s biggest sale of high frequency spectrum to date – has now ended, providing strong indicators of the final result. The second phase focuses on the exact frequencies and locations each successful bidder will negotiate. Auction 103 spans the upper 37 GHz, 39 GHz, and 47 GHz band, following on from Auction 101, in 28 GHz, and Auction 102, in 24 GHz. In the most recent process, gross bids reached $7.6bn during the clock phase and 99.9% of available licences were snapped up. Though the…