AST SpaceMobile partners with Verizon to provide satellite-based broadband service, securing $100 million investment.

From CNBC: 2024-05-29 07:30:01

AST SpaceMobile partners with Verizon after recent deal with AT&T, focused on providing broadband service through satellites to unmodified smartphones. The partnership includes a $100 million raise for AST, $65 million in prepayments and $35 million in debt, with $45 million conditional on regulatory approvals and a commercial agreement. Major players like SpaceX and Apple are also pursuing direct-to-device communications projects. AST plans to launch its first five commercial satellites this year, while SpaceX seeks to add phone service to its Starlink offering. Elon Musk’s company recently achieved a video call via satellite-connected unmodified phones.



Read more at CNBC: AST SpaceMobile, Verizon partner on satellite internet