AST SpaceMobile is set to deploy nearly 60 satellites for broadband networks, challenging SpaceX. The Texas-based company reported over $1.5 billion in funding, with plans to launch 45-60 satellites by 2026. Shares surged 10%, with a 140% increase this year. The company aims to provide service in the US, Europe, Japan, and beyond.

CEO Abel Avellan confirmed plans to deploy 45-60 satellites by 2026, with orbital launches every 1-2 months. Currently, AST SpaceMobile has 6 satellites in orbit for commercial and government use. They plan to launch service in the US this year, expanding to the UK, Japan, and Canada by early 2026.

AST SpaceMobile joins the space broadband race, competing with SpaceX’s 8,000+ Starlink satellites. Other players include Globalstar backed by Apple, and Project Kuiper backed by Amazon. The company’s goal is to establish a strong presence in strategic markets and provide continuous service globally.

Read more at CNBC: SpaceX rival AST SpaceMobile soar on report of satellite deployment