LEO Space Race: AST SpaceMobile Shares Erupt Ahead Of Inaugural Satellite Launch

A new space race is emerging in telecommunications.

Low-earth orbit satellite constellations are being constructed in hyperspeed fashion, led by SpaceX's Starlink. Now, AST SpaceMobile is preparing to send the first five commercial satellites to LEO to build out its space-based cellular broadband network.

AST SpaceMobile announced Wednesday after-hours, "First 5 commercial satellites on target for dedicated orbital launch in the first half of September, each the largest-ever communications arrays to be deployed commercially in low Earth orbit." 

"We stand at a pivotal moment for AST SpaceMobile," AST SpaceMobile CEO Abel Avellan wrote in a statement. 

Avellan continued, "The arrival of our first five commercial satellites at the launch site marks the culmination of years of relentless innovation and perseverance, in partnership with industry leaders like AT&T, Google, Verizon, Vodafone, and Rakuten, among others. The upcoming orbital launch is a significant step toward fulfilling our mission to eliminate dead zones and empower communities worldwide with space-based cellular broadband connectivity."

AST SpaceMobile said the first five commercial satellites will provide coverage across the US for more than 5,600 cells in the "premium low-band spectrum." 

Shares of AST SpaceMobile blasted off to record highs, soaring as much as 42% in the cash session.

Hmmm.

While AST SpaceMobile is just beginning to build its LEO satellite constellation for a space-based cellular broadband network, rival SpaceX has already launched 100 satellites to power its cellular Starlink system, according to PCMag. Starlink has nearly 6,300 satellites in LEO, providing high-speed internet across the US and dozens of countries worldwide. 

In May, Starlink wrote on X, "Starlink is connecting more than 3M people with high-speed internet across nearly 100 countries, territories, and many other markets." 

Meanwhile, T-Mobile is expected to go live with Starlink service later this year. 

The LEO telecommunications race is blasting off.