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Satellite designer AST Spasmobile Said that it is preparing to deploy about five dozen satellites to power the cellular-based broadband network, a step that sets up the company as a rival Elon MuskMajor SpaceX.
The company in Texas released its second quarter earnings after the bell on Monday, stating that its satellites are completely funded and preparing to deploy with more than $ 1.5 billion on their balance sheet.
Space company shares increased by more than 10% on the news on Tuesday. The stock that is in a boom for space broadband technology is more than 140%.
CEO Ebel Avalon said, “We are confirming our fully funded plan to deploy 26 to 60 satellites to 45 to 60 satellites by 2026 to support continuous service in America, Europe, Japan and other strategic markets,” said CEO Abel Evalon. Report“We have planned an average of every one to two months during 2025 and 2026.”
The AST spacemobile currently has six satellites in the orbit, which are used for both commercial and government applications. The company plans to deploy service to the US by the end of the year, followed by the UK, Japan and Canada in the first quarter of 2026.
Evale said that AST Spasmobile has planned to launch satellites every one to two months to reach its target of 45 to 60 by next year.
With Monday’s announcement, the company joins the growing race to create a broadband service in space, remarkable player SpaceX is currently claiming over 8,000 starlink satellites in the class. Other rivals in space include GlobalstarSupported by AppleAnd Project KuperSupported by Heroic,
