ASTS

AST SpaceMobile develops a space-based cellular broadband network providing mobile connectivity directly to standard smartphones without requiring specialized terminals or ground-based cellular infrastructure. Headquartered in Midland, Texas, AST builds a constellation of large low Earth orbit satellites with substantial phased array antennas communicating directly with unmodified 4G/5G smartphones, enabling global mobile coverage including remote regions, oceans, and developing countries lacking terrestrial cell towers. The company's technology addresses the connectivity gap affecting approximately 50% of the global population without reliable cellular coverage, offering telecommunications operators a space-based complement to terrestrial networks extending service to previously unreachable areas. AST SpaceMobile's business model involves partnering with mobile network operators including Vodafone, Rakuten Mobile, Orange, and AT&T, who will market satellite-enabled coverage to existing subscribers while paying AST for wholesale network access. The company successfully launched its BlueWalker 3 test satellite in September 2022, the largest commercial communications array ever deployed in low Earth orbit, demonstrating direct smartphone connectivity achieving 5G speeds during testing. AST plans deploying an initial constellation of approximately 100 satellites beginning in 2024 providing continuous global coverage, requiring capital investments exceeding $1 billion funded through equity raises, debt financing, and potential government contracts. The company faces significant technical risks including manufacturing and launching satellites meeting ambitious specifications, regulatory challenges coordinating spectrum access across dozens of countries, and competition from Starlink, OneWeb, and terrestrial 5G networks expanding coverage through conventional infrastructure buildouts.