Shares of AST SpaceMobile Inc. (NASDAQ: ASTS) surged nearly 16% on Wednesday to close at $86.70 after the company announced a partnership with Verizon to deliver space-based cellular connectivity starting in 2026.
The agreement will allow Verizon customers to access mobile service directly from space, expanding coverage in remote and underserved areas without traditional cell towers. The deal marks another major step for AST SpaceMobile as it pushes toward building the first space-based broadband network accessible by standard mobile phones.
Verizon shares also edged higher by 0.7% following the announcement, signaling investor confidence in the partnership’s long-term potential. The collaboration positions both companies to compete in the growing satellite-to-cell market alongside players such as SpaceX’s Starlink and Lynk Global.
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