Answer Description

Sharing a device's cellularly connected internet to nearby devices is called tethering.

Wikipedia

Tethering, or phone-as-modem (PAM) is the sharing of a mobile device's Internet connection with other connected computers. Connection of a mobile device with other devices can be done over wireless LAN (Wi-Fi), over Bluetooth or by physical connection using a cable, for example through USB. If tethering is done over WLAN, the feature may be branded as a personal hotspot or mobile hotspot, which allows the device to serve as a portable router. Mobile hotspots may be protected by a PIN or password. The Internet-connected mobile device can act as a portable wireless access point and router for devices connected to it.